Sensex at a 7-month low falling 211 points

Mumbai, April 9 (IANS) A benchmark index of Indian equities markets closed to a seven-month low, falling more than a percent – or 211 points – Tuesday, apprehending lacklustre fourth quarter earning reports by companies starting this week.

There was heavy selling in information technology (IT), oil and gas, bank, public sector undertaking (PSU), consumer durables, fast moving consumer goods (FMCG) and technology, media and entertainment (TECk) stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,481.47 points, closed at 18,226.48 points, down 211.30 points or 1.15 percent from its previous day’s close at 18,437.78 points.

The Sensex slumped to a low of 18,206.61 points intra-day after touching a high of 18,565.56 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also closed the day 0.86 percent or 47.85 points down at 5,495.10 points.

The BSE IT index was down 140.22 points; oil and gas index, down 140.00; bank index, down 103.49 points; PSU index, down 102.39; consumer durables index, down 83.91 points; FMCG index, down 83.02 points; and TECk index, down 71.03 points.

However, the automobile index went up 40.31 points.

Of the 30 Sensex scrips, five closed in the positive. Prominent among these were Tata Motors, up 2.26 percent at Rs.262.75; Tata Consultancy Services (TCS), up 1.10 percent at Rs.1,497.30; Jindal Steel, up 0.73 percent at Rs.332.75; NTPC, up 0.25 percent at Rs.141.15; and ICICI Bank, up 0.12 percent up Rs.989.95.

Among the 25 losers were Wipro, down 12.19 percent at Rs.393.80; ONGC, down 2.91 percent at Rs.303.35; Infosys, down 2.36 percent at Rs.2,766.35; State Bank of India (SBI), down 2.30 percent at Rs.1,987.10; and Gail India, down 2.22 percent at Rs.313.35.

Among other Asian markets, Japan’s Nikkei closed flat, while Hong Kong’s Hang Seng ended the day 0.70 percent up. China’s Shanghai Composite Index ended the day’s trade 0.64 percent higher.

In Europe, Britain’s FTSE 100 was trading up 0.56 percent, and the German DAX was trading 0.24 percent higher. The French CAC 40 was higher by 0.52 percent.

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