Sensex closes 274 points down; banks stocks fall
Posted on Jun 18 2014 | IANS
Mumbai, June 18 : A benchmark index of Indian equities markets closed Wednesday's trade 274.94 points or 1.08 percent down as bank and oil and gas stocks declined.
The markets were cautious amidst weak global cues as a result of the worsening security situation in Iraq with crude oil prices scaling up to a nine-month high.
The 30-scrip sensitive index (Sensex) of the S and P Bombay Stock Exchange (BSE), which opened at 25,565.19 points, closed trade at 25,246.25 points, down 274.94 points or 1.08 percent from the previous day's close at 25,521.19 point.
The Sensex touched a high of 25,609.28 points and a low of 25,114.30 points during the intra-day trade.
The S and P BSE bank index was down 188.81 points, oil and gas index moved lower by 166.86 points, automobile index slipped 152.97 points, capital goods index fell 147.14 points, consumer durables index was lower by 131.41 points and metal index lost 123.06 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also in the negative territory, down 73.50 points or 0.96 percent at 7,558.20 points.
The major Sensex gainers were: Cipla, up 2.98 percent at Rs.425.15; Hindalco Inds, up 2.74 percent at Rs.167.15; Gail India, up 1.55 percent at Rs.451.20; Maruti Suzuki, up 0.83 percent at Rs.2,438; and DrReddys Lab, up 0.60 percent at Rs.2,422.75.
The losers were: BHEL, down 3.21 percent at Rs.240; Tata Consultancy Services (TCS), 2.43 percent at RS.2,222.75; NTPC, down 2.26 percent at Rs.151.25; Reliance Industries, down 2.12 percent at Rs.1,066.80; and Tata Motors, down 2.08 percent at Rs.431.50.
Among the Asian markets, Japan's Nikkei closed 0.93 percent up. China's Shanghai Composite Index was lower by 0.54 percent, while Hong Kong's Hang Seng lost 0.09 percent.
In Europe, London's FTSE 100 was trading 0.43 percent up and Germany's DAX Index was higher by 0.20 percent, while the French CAC 40 Index gained 0.08 percent at the closing bell here.