Home ECONOMY Sensex below 27,000-mark, plunges over 3 percent

Sensex below 27,000-mark, plunges over 3 percent


Mumbai, Jan 6:

A benchmark index of Indian equities markets plunged 855 points or three percent-plus in Tuesday’s trade session as negative global cues like falling crude oil prices and speculations over Greece’s future within Eurozone subdued sentiments.
Market analysts opined that the fall in Indian markets was due to heavy corrections in crude oil prices and investor concerns over a potential Greek exit of the Eurozone.

On the domestic front, the operations of state-owned monopoly Coal India Limited (CIL) were hit as workers launched a five-day nationwide strike against the government’s plans to allow private players in the sector — and this, too, hampered market sentiments.

All sector-based indices of the S&P Bombay Stock Exchange (BSE) closed the day’s trade in red.

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

The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 27,694.23 points, closed trade at 26,987.46 points, down 854.86 points or 3.07 percent from the previous day’s close at 27,842.32 points.

The Sensex touched a high of 27,698.93 points and a low of 26,937.06 points during intra-day trade.

Sector-wise, S&P bank index plunged by 659.27 points, capital goods index fell by 514.36 points, automobile index dropped by 505.04 points, oil and gas index was lower by 413.61 points and healthcare index dropped by 391.60 points.

Other sector-based indices which came under heavy selling pressure were S&P metal index which went down by 381.33 points, consumer durables index slid by 304.67 points and IT index dipped by 268.39 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE), too, closed three percent or 251.05 points down at 8,127.35 points. (IANS)