Sensex falls 1.55 percent; bank, IT stocks plummet

Mumbai  : A benchmark index for Indian equities markets fell 1.55 percent or 292 points Thursday on heavy selling in banking, information technology (IT) and capital goods stocks.

Markets remained lacklustre on weak foreign cues as well as concerns over prospects of early general elections.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 18,731.38 points, closed at 18,509.70 points, down 291.94 points or 1.55 percent from its previous day’s close at 18,801.64 points.

The Sensex slumped to a low of 18,473.85 points in intra-day trade and touched a high of 18,733.62 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also ended 1.73 percent or 98.15 points down at 5,574.75 points.

The BSE bank index was down 245.76 points, followed by IT index, down 169.64 points; metal index, down 155.09 points; capital goods index, down 148.42 points; and consumer durables index, down 146.32 points.

Of the 30 Sensex scrips, only six closed in the positive. Prominent among these were Dr Reddys Lab, up 3.03 percent at Rs.1,890.40; Coal India, up 2.56 percent at Rs.310.20; Hindustan Unilever, up 1.68 percent at Rs.469.90; and Maruti Suzuki, up 1.06 percent at Rs.1,319.45.

Among the 24 losers were Jindal Steel, down 4.32 percent at Rs.329.20; Tata Steel, down 3.97 percent at Rs.304.40; Sterlite Inds, down 3.09 percent at Rs.87.70; Infosys, down 2.74 percent at Rs.2,882.85; and Hero MotoCorp, down 2.67 percent at Rs.1,458.85.

Among other Asian markets, Japan’s Nikkei closed 2.20 percent higher while Hong Kong’s Hang Seng ended the day’s trade 0.14 percent down. China’s Shanghai Composite Index too closed 0.11 percent lower.

In Europe, Britain’s FTSE 100 was down 0.24 percent while the German DAX was trading 0.54 percent higher. The French CAC 40 too was up 0.92 percent.

Photo  : AFP