Sensex slips 120 points; banking, capital goods stocks fall

A benchmark index of Indian equities markets closed 120.41 points down Friday on weak European cues and selling pressure in banking, capital goods and realty stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,275.20 points, closed at 17,158.44 points, down 0.70 percent or 120.41 points from its previous day’s close at 17,278.85 points.

The BSE bank index was down 156.02 points, followed by capital goods index down 114.20 points, and realty index that was down 16.75 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange also closed 0.72 percent down at 5205.10 points.

The major Sensex losers were Dr Reddy’s Lab, down 2.68 percent at Rs.1,611.20; BHEL, down 2.47 percent at Rs.228.85; Cipla, down 1.67 percent at Rs.326.50; ICICI Bank, down 1.58 percent at Rs.935; and Wipro, down 1.47 percent at Rs.363.20.

The main gainers were Bajaj Auto, up 2.67 percent at Rs.1,590.60; Maruti Suzuki, up 2.43 percent at Rs.1,144.55; TCS, up 1.86 percent at Rs.1,223.05; Coal India, up 0.38 percent at Rs.360.95; and Tata Steel, up 0.28 percent at Rs.415.80.

Among other Asian markets, Japan’s Nikkei closed 1.43 percent down and Hong Kong’s Hang Seng closed 0.42 percent up. China’s Composite index was 0.74 percent down.

At closing bell here, European markets were in the red. France’s CAC was down 0.81 percent while Germany’s DAX was trading 0.42 percent lower. Britain’s FTSE 100 was down 0.52 percent.