Sensex falls, banking and consumer goods stocks slump

May 4th, 2012 - 2:25 pm ICT by IANS  

Sensex Mumbai, May 4 (IANS) A benchmark index for Indian equities markets was trading 126 points down at around noon Friday, led by selling pressure in banking, consumer goods, metals and auto stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 17,066.84 points, was ruling at 17,009.23 points at the noon trade, down by 0.83 percent or 141.96 points from its previous close at 17,151.19 points.

The Sensex touched a high of 17,121.37 points and low of 17,008.60 points in the intra-day.

The wide-based 50-scrip S&P; CNX Nifty of the National Stock Exchange was down by 0.80 percent or 41.50 points at 5,146.90 points.

There was heavy selling pressure in banking, consumer goods, metals and auto stocks.

The BSE banking index was down by 1.87 percent or 217.61 points followed by consumer goods index down by 1.81 percent or 167.55 points, metals index was down by 1.37 percent or 148.06 points and auto index was down by 1.26 percent or 128.55 points.

Hero MotoCorp’s scrip plunged 3.87 percent at Rs.1,992.10 on negative buyer sentiments. Stock of other major auto company Bajaj Auto was also down 3.10 percent at Rs.1,512.

Banking stocks slumped a day after the Reserve Bank of India (RBI) announced guidelines for implementation of the Basel III norms.

The country’s largest lender State Bank of India was down by 2.29 percent at Rs.2,037.50. Private lender ICICI Bank’s scrip fell by 1.93 percent at Rs.841.

Other major Sensex losers included: BHEL was down 3.89 percent at Rs.216.45, DLF, down 3.01 percent at Rs.181.80, Tata Steel, down 2.42 percent at Rs.437.45 and Hindalco Inds, down 1.98 percent at Rs.116.50.

Only six of the 30 Sensex scrips were in the positive terrain. Cipla, up 2.74 percent at Rs.326.10; Wipro, up 0.78 percent at Rs.415.50; Tata Power, up 0.69 percent at Rs.101.45, Sun Pharma, up 0.26 percent at Rs.601.40 and ONGC, up 0.21 percent at Rs.265.30 were among the prominent Sensex gainers.

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