Sensex trades in red, bank stocks down

Mumbai, July 10 :

A benchmark index of Indian equities markets Thursday fell 143.63 points or 0.56 percent as the new government began presenting its maiden budget, wiping off the early gains.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,513.74 points, was trading at 25,301.18 points (at 12.30 p.m.) trade session, down 143.63 points or 0.56 percent from the previous day’s close at 25,444.81 points.

The markets had earlier made gains of about 64.08 points or 0.25 percent around 9.20 a.m. as automobile, capital goods and consumer durables stocks surged.

However, heavy selling pressure was observed in bank, consumer durables, capital goods, automobile and metal sector. Meanwhile, scrips of information technology (IT) and technology, entertainment and media (TECK) stocks grew.

The Sensex touched a high of 25,613.72 points and a low of 25,117 points in the trade so far.

The S&P BSE bank index tanked 259.66 points, followed by consumer durables index which slipped 145.26 points, capital goods index decreased by 119.56 points, automobile index fell 94.54 points and metal index was lower by 94.34 points.

However, IT index was up 58.06 points, TECK index grew by 11.87 and realty index gained by 6.52 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 36.80 points or 0.49 percent, down at 7,548.20 points.

(IANS)