Sensex down 239 points; oil stocks plunge

Mumbai, Dec 11:

Following international global cues and negative domestic sentiments, a benchmark index of Indian equities markets closed Thursday’s trade down 239 points or 0.86 percent.
stock exchange sensex

International cues like continued fall in crude prices which have led to higher valuation of dollar and raised questions over the impact on the Stimulus plan affected sentiments.

“Equity market is in gap compared to expectation since start of the month. None of the news provide a platform to head-on to the expectation of reform, rate-cut and stabilization of world economy,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

All the industry based-sectors of the S&P Bombay Stock Exchange (BSE) closed in the red expect for healthcare.

Heavy selling pressure was seen in oil and gas, auto, information technology (IT), capital goods and technology, entertainment and media (TECK) stocks.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 27,796.34 points, closed trade at 27,602.01 points, down 229.09 points or 0.82 percent from the previous day’s close at 27,831.10 points.

The Sensex touched a high of 27,796.34 points and a low of 27,539.47 points in the intra-day trade.

The S&P BSE oil and gas index tanked by 255.88 points, automobile index ended 152.74 points lower, IT index lost 123.10 points, capital goods index fell by 68.37 points and TECK index shed 60.95 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended 62.75 points or 0.75 percent down at 8,292.90 points.

The major Sensex gainers were: Coal India, up 1.00 percent at Rs.363.75; Hindalco Inds, up 0.91 percent at Rs.155.60; DrReddy, up 0.86 percent at Rs.3,430.05; Maruti Suzuki, up 0.53 percent at Rs.3,338.60; and BHEL, up 0.47 percent at Rs.254.30. (IANS)

The major Sensex losers were: ONGC, down 3.21 percent at Rs.349.35; Tata Steel, down 2.85 percent at Rs.420; Bharti Airtel, down 2.77 percent at Rs.343.70; Reliance Industries, down 2.76 percent at Rs.906.30; and Tata Power, down 2.59 percent at Rs.84.75. (IANS)

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