Wed, 16 May 2012 09:59:08 GMT

Sensex tanks 324 points in noon trade

Mumbai: A benchmark index for Indian equities markets was trading over 324 points low from its previous close around 12:15 p.m. Wednesday as automobile, metal and power stocks came under intense selling pressure.

Sensex tanks 252 points in early trade

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 16,003.77 points, down by 1.99 percent or 324.48 points from its previous close of 16,328.25 points.

The Sensex touched a high of 16,132.68 points and a low of 15,978.35 points in the intra-day trade. The sensex midcap was down 76.73 points and smallcap was down by 81.16 points.

The BSE auto index was down 3.38 percent or 329.40 points, metal index was down 2.79 percent or 286.13 points, power index was 2.46 percent down or 44.61 points, consumer durable index was down 2.46 percent or 163 points while banking index was down 2.33 percent or 250.36 points.

Oil and gas index was down 0.22 percent or 16.11 points and health care index down 0.36 percent or 23.94 points.

Stocks of Tata Motors were down 6.92 percent at Rs.270.20; HDFC, down 4.96 percent at Rs.613; BHEL, 4.31 percent at Rs.2007.50; ICICI Bank, 3.46 percent at Rs.788.45 and Tata Steel, 3.18 percent down at Rs.404.50.

Other major Sensex losers included: Maruti Suzuki, down 3.14 percent at Rs.1176.70; Jindal Steel, 2.68 percent down at Rs.453.55; Hindalco Inds, down 2.63 percent at Rs.111.20; DLF, down 2.43 percent at Rs.182.35; and SBI, down 2.40 at Rs.1815.25.

The only two Sensex gainers were Gail India up 0.89 percent at Rs.317.40 and TCS up 0.13 percent at Rs.1227.65.

Source: IANS

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