Sensex down 180 points; bank stocks plunge

Business No Comments on Sensex down 180 points; bank stocks plunge 7

Mumbai, Nov 26 (IANS) A benchmark index of Indian equities markets fell 180 points or 0.87 percent Tuesday a day after it rallied nearly 388 points as crude price dropped after a breakthrough nuclear deal between world powers and Iran over the weekend.

The market sentiment was sober as bank, oil and gas and power stocks were down. However, automobile, capital goods and power scrips surged.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 20,604.27 points, closed at 20,425.02 points, down 180.06 points or 0.87 percent from its previous day close at 20,605.08 points.

The Sensex touched a high of 20,604.27 points and a low of 20,390.62 points intra-day.

The S&P BSE bank index was down 191.76 points, oil and gas was 105.09 points lower, and power index lost 77.81 points. Meanwhile, automobile index increased by 59.77 points, capital goods index moved up by 30.46 points and PSU index gained 5.81 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed Tuesday’s trade 56.25 points or 0.92 percent up at 6,059.10 points.

Major Sensex gainers were: Bharat Heavy Electricals, up 2.57 percent at Rs.147.85; Tata Motors, up 1.23 percent at Rs.390.25; Hindustan Unilever, up 1.06 percent at Rs.587.55; Hero MotoCorp, up 1.01 percent at Rs.2,044.95; and Sesa Sterlite, up 1.00 percent at Rs.176.40.

The main losers were: Bharti Airtel, down 2.72 percent at Rs.327.55; ICICI Bank, down 2.61 percent at Rs.1,045.25; Coal India, down 2.45 percent at Rs.263.15, ITC, down 1.69 percent at Rs.310.85; and HDFC, down 1.53 percent at Rs.806.70.

Among the Asian markets, Japan’s Nikkei closed 0.67 percent down, China’s Shanghai Composite Index was down by 0.14 percent and Hong Kong’s Hang Seng fell 0.01 percent.

In Europe, London’s FTSE 100 was trading 0.46 percent down, Germany’s DAX Index was lower by 0.02 percent and the French CAC 40 Index was down by 0.24 percent.

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