ওয়াশিংটন বাংলা রেডিও Washington Bangla Radio USA

Mumbai, Dec 28 (IBNS): The BSE Sensex shed 0.92 percent on Wednesday as investors cut losses a day ahead of monthly derivatives contracts expiry, triggering a selloff in shares of banks over concerns of poor asset quality and flagging credit growth.

The 30-share benchmark index, ended 146.10 points up at 15,727.85, with 18 of its components closing in the red, in a day of a flat opening and thin trade after having fallen as much as 1.3 percent at one point.

The broader 50-share National Stock Exchange (NSE) Nifty index ended 0.94 percent or 44.70 points down at 4,705.80 points on Wednesday.

Jindal Steel and Power dropped more than 7 percent and state-run oil companies also closed lower while fears of declining asset quality amid slow credit growth and an expected rise in bad loans for banks weighed down investor confidence.

Meanwhile, recovering from early lows, the rupee on Wednesday closed higher by 5 paise at 52.97 against the dollar as fag-end dollar selling of the U.S. currency by some banks and exporters underpinned month-end demand from importers.