Home ECONOMY Sensex down 80 points, metal stocks plunge

Sensex down 80 points, metal stocks plunge


Mumbai, Jan 14:

A day after crashing 160 points, the barometer index of the Indian equities markets closed around 80 points or 0.29 percent down in Wednesday’s trade session.

sensex-downInvestor sentiments were marred by global cues such as falling crude oil prices, outcome of European Central Bank (ECB) meet over stimulus, US FED rate decision and likely Greece exit from the eurozone.

Heavy selling was observed in metal, healthcare, banking, oil and gas and fast moving consumer goods (FMCG), while healthy buying was seen in information technology (IT), automobile, technology, entertainment and media (TECK) and capital goods scrips.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,432.14 points, closed at 27,346.82 points, down 78.91 points or 0.29 percent from the previous day’s close at 27,425.73 points.

The Sensex had touched a high of 27,512.80 points and a low of 27,203.25 points in the intra-day trade.

“Market is churning between defensive and cyclical stocks, building inline to important global decisions starting mid next week,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

“ECB meet to decide on QE (quantitative easing), Grexit on 25th Jan and later FED rate assessment. Only post these outcomes can we expect where market is likely to move,” he added.

The S&P metal index tanked 359.80 point, followed by healthcare index which was lower by 133.49 points, banking index lost 99.04 points, oil and gas index fell by 59.95 points and FMCG index slipped by 50.87 points.

However, IT index was up 116.83 points, automobile index gained 71.96 points, TECK index rose by 47.36 points and capital goods index was up 30.08 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day’s trade in red. It was down 21.85 points or 0.26 percent at 8,277.55 points.

The major Sensex gainers were: Hindustan Unilever, up 4.21 percent at Rs.921.95; BHEL, up 3.94 percent at Rs.267.85; Infosys, up 1.99 percent at Rs.2,128.80; Bajaj Auto, up 1.61 percent at Rs.2,363.65; and Maruti Suzuki, up 1.34 percent at Rs.3,516.60.

The losers were: Sesa Sterlite, down 7.63 percent at Rs.188.85; Hindalco Inds, down 6.17 percent at Rs.142.10; Tata Steel, down 3.79 percent at Rs.376.75; ITC, down 3.29 percent at Rs.348.40; and Wipro, down 1.86 percent at Rs.552.40. (IANS)