Sensex below 18,000 as selling intensifies (Lead)

May 23rd, 2011 - 4:59 pm ICT by IANS  

Sensex Mumbai, May 23 (IANS) A benchmark index for Indian equities markets was Monday ruling below the 18,000-level as selling intensified across the breadth of the market. Broader markets were also in the red amid negative global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 18,269.06 points, was ruling at 17,991.45 points, down 3343.64 points or 1.83 percent from its previous close at 18,326.09 points.

It had fallen to an intra-day low of 17,971 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange was also trading weak at 5,386.35 points, down 1.84 percent.

Broader markets too were ruling in the negative with the BSE midcap index ruling 1.39 percent down and the BSE smallcap index 1.56 percent down.

Realty, capital goods, power and metal stocks were among major losers at this time.

The market breadth was negative with 703 stocks advancing, 2,046 on the decline and 98 unchanged.

ITC was the sole gainer on the Sensex at this time, while major losers included BHEL, ICICI Bank, Reliance Infra and Tata Motors.

Asian markets ended in the red.

The Nikkei of the Japanese stock exchange closed 1.52 percent lower at 9,460.63 points, while Hong Kong’s Hang Seng ended 2.11 percent down at 22,711.02 points.

The Shanghai Composite index of the Chinese markets also closed in the negative at 2,774.57 points, 2.93 percent down.

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