business-india-news

Sensex down nearly two percent, bank stocks plunge

Mumbai, Sep 30 : A benchmark index of Indian equities markets Monday closed 348 points, or nearly two percent, down in volatile trade on negative global cues and in anticipation of poor quarterly current account deficit figures later in the day.


Markets showed concern over a possible shutdown of the US Federal government services due to a political deadlock over so-called Obamacare plan in the budget and with Italy likely to face new elections.

Domestically, the market expected a widened current account deficit for the April-June quarter that might put more pressure on the rupee and invite a ratings cut by international agencies.

The 30-scrip S and P Sensex of the Bombay Stock Exchange (BSE), which opened at 19,643.89 points, closed at 19,379.77 points, down 347.50 points or 1.76 percent from Friday's close at 19,727.27 points.

The Sensex saw a high of 19,651.31 points and a low of 19,320.73 points in the day's trade.

The wider 50-scrip S and P CNX Nifty of the National Stock Exchange (NSE) also gained mere 97.90 points or 1.68 percent at 5,735.30 points.

Sector-wise, bank, capital goods, metal, automobile and oil and gas scrips tanked. However, information technology (IT) stocks gained.

The S and P BSE bank index plunged 320.07 points, capital goods index was down 231.96 points, followed by metal index which was lower by 209.44 points, automobile index was down 165.11 points and oil and gas index decreased by 145.78 points.

Healthy buying was observed in IT index which rose 4.37 points.

The prominent Sensex gainers were: Hindustan Unilever, up 1.06 percent at Rs.627.40; Sun Pharma, up 0.47 percent at Rs.592.40; Infosys, up 0.30 percent at Rs.3,015.45; NTPC, up 0.27 percent at Rs.148.20; and Gail India, up 0.09 percent at Rs.326.70.

The losers were: Tata Steel, down 5.65 percent at Rs.271.60; BHEL, down 4.58 percent at Rs.137.35; ICICI Bank, down 4.15 percent at Rs.884.95; Coal India, down 3.92 percent at Rs.295; and Larsen and Toubro (L and T), down 3.53 percent at Rs.788.60.

Among the Asian markets, Japan's Nikkei closed 2.06 percent down. Hong Kong's Hang Seng was lower by 1.50 percent. However, China's Shanghai Composite Index was 0.68 percent up.

In Europe, London's FTSE 100 was trading 0.77 percent down and Germany's DAX Index was lower by 1.01 percent. The French CAC 40 Index was down by 1.27 percent.

--IANS (Posted on 30-09-2013)

business-india-news headlines

TCS posts robust net profit for quarter, fiscal

STORY opens in Kolkata

Zebra Technologies to acquire enterprise business from Motorola Solutions

Airtel launches Night Store

Order for release on interim bail unworkable: Subrata Roy to SC

Diesel under-recovery falls to Rs.5.49/litre

Celebrate this spring with Zyra from Tanishq

Yatra.com raises Rs 140 cr in funding

Punj Lloyd secures Rs 3,254 cr order to develop Libyan city infra

TCS net up 38 percent for fiscal 2013-14

Indian Rupee : Currency Exchange (Forex) Rates - 16 April 2014

Rupee falls to 60.37 against dollar

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top