Sensex down 430 points; capital goods crash

Mumbai, Sep 23 :

A benchmark index of Indian equities markets plummeted by over 430 points or 1.58 percent in trade session Tuesday, due to negative global cues.
The session in which the market slumped by over 430 points, saw capital goods, automobile, bank, healthcare and oil and gas stocks tank.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,244.98 points, closed trade at 26,775.69 points, down 431.05 or 1.58 percent from the previous day’s close at 27,206.74 points.

The Sensex touched a high of 27,256.87 points and a low of 26,744.07 points in intra-trade.

“Sensex fell sharply on the back of profit booking and negative global cues. The selling pressure gained momentum after data released on Eurozone economic activity indicated continuing weakness in the region,” said Sanjeev Zarbade, vice president- private client group research, Kotak Securities.

The S&P BSE capital goods index lost 361.34 points, automobile index was down by 343.05 points, bank index was lower by 325.58 points, healthcare index fell by 298.05 points and oil and gas index plummeted by 286.49 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) too ended in negative territory. It was down 128.75 points or 1.58 percent at 8,017.55 points.

Major Sensex gainers included NTPC, up 0.18 percent at Rs.136.80; Hindustan Unilever, up 0.10 percent at Rs.742.85; ITC, up 0.07 percent at Rs.370.90; and Maruti Suzuki, up 0.07 percent at Rs.3,065.20.

Major Sensex losers included Cipla, down 4.65 percent at Rs.585; Tata Motors, down 4.00 percent at Rs.517.80; Hindalco Inds, down 3.09 percent at Rs.157.05; Tata Steel, down at 2.95 percent at Rs.486.10; and ONGC, down 2.78 percent at Rs.407.45.

In Asian markets, Japan’s Nikkei lost 0.71 percent, Hong Kong’s Hang Seng closed 0.49 percent lower. However, China’s Shanghai Composite was up 0.87 percent.

In Europe, London’s FTSE 100 decreased by 1.29 percent, Germany’s DAX Index was down 1.10 percent. France’s CAC 40 was lower by 1.64 percent.


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