Sensex down 70 points; bank, PSU stocks plummet
A benchmark index for Indian equities markets Friday was down 70 points in the afternoon trade following heavy selling pressure in bank, public sector undertaking (PSU) and capital goods stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,543.95 points, was ruling at 18,447.08 points around 12.30 p.m., down 70.26 points or 0.38 percent from its previous close at 18,517.34 points.
The benchmark index touched a high of 18,556.50 points and low of 18,427.02 points intra-day.
The BSE midcap index was down 2.83 points. However, the smallcap index was higher by 5.19 points.
The wider 50-scrip S and P CNX Nifty of the National Stock Exchange slumped 23.09 points or 0.42 percent at 5,603.85 points.
There was heavy selling pressure in bank, PSU, metal, capital goods, health care and fast moving consumer goods (FMCG) stocks.
The bank index was down 108.95 points, while the PSU index was lower by 50.57 points, followed by metal index down 35.96 points, capital goods index down 26.54 points, healthcare index down 23.09 points and FMCG index, down 19.38 points.
Among the other Asian markets, Japan's Nikkei rose 1.56 percent, while Hong Kong's Hang Seng gained 0.62 percent. China's Shanghai Composite Index was up 0.58 percent.