Home ECONOMY Sensex down 177 points down; auto stocks sink

Sensex down 177 points down; auto stocks sink


Mumbai, Oct 13 :

A week after it lost nearly one percent due to negative global cues, a benchmark index of Indian equities markets Monday fell 177.62 points or 0.68 percent in the early morning session as automobile, oil and gas and capital goods stocks plunged.

stock exchange sensexHeavy selling pressure was observed in healthcare and Abanks. All sector-based indices of the S&P Bombay Stock Exchange (BSE) were trading in the red, except information technology (IT) and technology, entertainment and media (TECK) scrips.

The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 26,275.07 points, was trading at 26,119.76 points (at 10.15 a.m.) in the early morning trade session, down 177.62 points or 0.68 percent from the previous day’s close at 26,297.38 points.

The Sensex touched a high of 26,276.57 points and a low of 26,092.69 points in the trade so far.

The S&P BSE automobile index was down 125.05 points, followed by oil and gas index which was lower by 102.95 points, capital goods index lost 84.99 points, healthcare index decreased by 76.71 points and bank index fell 68.89 points.

However, TECK index was up 11.93 points, followed by IT index index which gained 9.90 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also down. It fell 37.95 points or 0.48 percent at 7,822 points.

According to Angel Broking, the Indian markets opend negatively tracking SGX Nifty and Asian markets. US market ended on negative note owing to European growth concerns which led to global negative sentiment.

“European markets closed in the negative territory on Friday, extending this month’s steep losses on concerns the European Central Bank will dither as Germany heads
for recession,” the broking firm said.