Sensex plunges 171 points as rupee hits record low

Mumbai  :  A benchmark index of Indian equities markets fell 0.88 percent or 171 points Monday as the rupee hit a record low against the dollar.

Despite the dampened spirit, some positive buying was seen in fast moving consumer goods (FMCG), technology, media and entertainment (TECK), IT and capital goods stocks.

There was selling pressure on oil and gas, public sector undertakings (PSU), auto, metal and banking index (bankex) scrips.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 19,418.98 points, closed at 19,324.77 points, down 171.05 points or 0.88 percent from the previous day’s close at 19,495.82 points.

The Sensex touched a high of 19,422.69 points and a low of 19,185.92 points intra-day.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended 0.96 percent or 56.35 points down at 5,811.55 points.

The S&P BSE FMCG index inched up 49.48 points, TECK index moved up 16 points, IT index rose 19.81 points and capital goods index went up 11.79 points.

Oil and gas index plunged 172.85 points, PSU index dropped 114.47 points, auto index fell 162.97 points, metal index slipped 104.44 points and bankex went down 138.57 points.

The major Sensex gainers were: Bharat Heavy Electricals Ltd (BHEL), up 2.32 percent to Rs.182.65; Wipro, up 1.50 percent at Rs.356.05; and ITC, up 1.39 percent at Rs.346.85.

The major losers were: ONGC, down 3.49 percent at Rs.304.45; HDFC, down 3.01 percent at Rs.824.30; Tata Motors, down 2.70 percent at Rs.288.20; Gail India, down 2.63 percent at Rs.318.10; Coal India, down 2.32 percent at Rs.290.20, and NTPC, down 2.23 percent at Rs.140.30.

Among the Asian markets, Nikkei dipped 1.40 percent; Hang Seng was down by 1.31 percent, Shanghai Composite Index dropped 2.44 percent and KOSPI dipped 0.90 percent.

In Europe, the FTSE 100 was trading 0.82 percent up; Germany’s DAX Index was up by 2.27 percent and French CAC 40 Index was up by 1.73 percent.
Photo : AFP