Sensex tanks 281 points

A benchmark index of Indian equities markets plunged 281 points Monday on weak global cues and a sell-off in metal, realty and power stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,047.73 points, closed at 16,877.35 points, down 1.64 percent or 281.09 points from its previous day’s close at 17,158.44 points.

The BSE metal index was down 357.32 points, followed by realty index, down 48.26 points, and power index, down 52.28 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange also closed 1.67 percent down at 5,117.95 points.

The major Sensex losers were Maruti Suzuki, down 5.65 percent at Rs.1,079.90; Sterlite Inds, down 5.19 percent at Rs.99.55; Hindalco Inds, down 4.67 percent at Rs.116.30; Gail India, down 4.52 percent at Rs.338.35; and BHEL, down 3.95 percent at Rs.219.80.

The gainers were Dr Reddy’s Lab, up 1.10 percent at Rs.1,629 and Cipla, up 0.43 percent at Rs.327.90.

Among other Asian markets, Japan’s Nikkei closed 1.86 percent down and Hong Kong’s Hang Seng closed 2.99 percent down. China’s Composite index was 1.26 percent down.

At closing bell here, European markets were in the red. France’s CAC was down 2.19 percent while Germany’s DAX was trading 1.69 percent lower. Britain’s FTSE 100 was down 1.72 percent.