Home ECONOMY Sensex down 160 points; bank stocks fall

Sensex down 160 points; bank stocks fall

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Mumbai, Jan 13:

A day after the market rallied on the back of positive economic data, a benchmark index of Indian equities markets crashed 160 points in Tuesday’s trade.

sensex-downApart from fast moving consumer goods (FMCG) and healthcare index, all sector-based indices of the S&P Bombay Stock Exchange (BSE) ended the day’s trade in red.

Heavy selling pressure was observed in banking, consumer durables, oil and gas, capital goods and information technology (IT) stocks.

The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 27,611.56 points, closed the day’s trade at 27,425.73 points, down 159.54 points or 0.58 percent from the previous day’s close at 27,585.27 points.

The Sensex touched a high of 27,670.19 points and a low of 27,324.58 points in the intra-day trade.

“As global financial issue continues, volatility in currency and oil provides the shock from which India cannot be isolated. During the same time, market continues to signify quality stocks and expectation is improving alongside next budget,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

The S&P BSE banking index was down 118.14 point, followed by consumer goods index which was lower by 116.97 points, oil and gas index which fell 103.39 points, capital goods index that dipped by 103.31 points and IT index which slipped 51.10 points.

However, FMCG index gained by 57.10 points and healthcare index was higher by 19.96 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed the day’s trade down 23.60 points or 0.28 percent at 8,299.40 points.

The major Sensex gainers were: Mahindra and Mahindra, up 1.25 percent at Rs.1,246.75; Wipro, up 1.18 percent at Rs.562.85; Coal India, up 0.77 percent at Rs.361.45; Cipla, up 0.64 percent at Rs.635.05; and DrReddy, up 0.64 percent at Rs.3,222.75.

The losers were: ONGC, down 2.37 percent at Rs.339.65; ICICI Bank, down 1.57 percent at Rs.341; Hero MotoCorp, down 1.45 percent at Rs.2,893.70; Tata Power, down 1.37 percent at Rs.79.15; and Tata Steel, down 1.37 percent at Rs.391.60. (IANS)