Sensex 1.40 percent down; bank, oil and gas stocks plunge

Mumbai  :  A benchmark index of Indian equities markets was trading more than one and a half percent down in mid-afternoon trade Friday, after official data showed that the Indian economy last fiscal grew at its slowest pace in the last 10 years.

The economy grew by a sluggish five percent in the financial year ended March 31, 2013.

According to data released by the Central Statistics Office (CSO), in the fourth quarter of the 2012-13, the Indian economy grew by just 4.8 percent.

Bank, oil and gas, fast moving consumer goods (FMCG), capital goods, metal and public sector undertaking (PSU) stocks plunged Friday. However, information technology (IT) index was up.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,186.67 points, was trading at 19,933.07 points in the mid-afternoon session, down 282.33 points or 1.40 percent from its previous day’s close at 20,215.40 points.

Sensex touched a high of 20,191.29 points and a low of 19,917.57 points in intra-day trade.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) has shown downward movement and was trading at 1.51 percent or 92.55 points down at 6,031.50 points.

The S&P BSE bank index, down 234.64 points, followed by oil and gas index, was 151.27 points lower, FMCG index, down by 125.62, capital goods index, 107.22 points down, metal index was 92.60 points lower and PSU index was 78.72 points down.

However, IT index was up 27.41 points.