Sensex declines to 14-week low on concerns

A benchmark index for Indian equities markets on Friday fell for the seventh straight day, closing at a three-and-half month low as concerns about the European debt crisis continued to plague investors. Also, the rupee falling to its biggest weekly loss in eight weeks to 51.33 a dollar spooked traders. The 30-scrip sensitive index (Sensex) of the BSE, which opened lower at 16,387.7 points, closed at 16,371.51 points - down 90.2 points or 0.55 per cent from its previous close at 16,461.71 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended in the red, 28.95 points or 0.59 per cent lower at 4,905.8 points. Broader markets also closed in the negative, with the BSE 500 index closing 0.64 per cent down. The BSE midcap index shed 1.03 per cent, while the BSE smallcap index fell 1.9 per cent. The market breadth at the BSE was negative with 882 stocks advancing and 1,989 scrips declining. Another 108 remained unchanged. According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net sellers on Friday to the tune of $31.69 million. Among gainers on the 30-scrip Sensex were: Hero MotoCorp, up 3.05 per cent at Rs.2,184.15” Tata Power, up 2.42 per cent at Rs.97.45.