Sensex Drops by 130 Points

Sensex Drops by 130 Points
Indian equities were in the red on Friday after a key index opened lower and closed trade 130 points down under selling pressure. The index had risen more than 400 points this week after the country’s central bank announced an interest rate cut.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,459.72, against the previous close of 17,503.71 points. After moving up to an intra-day high of 17,519.88 and touching a low of 17,231.34, it closed the day at 17,373.84, down 129.87 points, or 0.74 per cent.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended the day 0.78 per cent or 41.55 points down at 5,290.85 points.

There was an evident selling pressure, especially in capital goods, banking and power stocks. The BSE capital goods index was down 184.77 points at 9,873.98.

Top losers included Hindalco, down 3.15 points at Rs.125; Tata Power, down 2.45 points at Rs.105; ONGC, down 6.10 points at Rs.266.15; BHEL, down 5.15 points at Rs.246.05; Larsen and Toubro (L&T), down 26.27 points at Rs.1,292.50; and ICICI Bank, down 17.30 points at Rs.860.50.

Top gainers included Mahindra and Mahindra, up 20.40 points at Rs.726.65; Wipro, up 3.15 points at Rs.424.40; Tata Steel, up 3.40 points at Rs.470.40; Cipla, up 2.05 points at 321.10; and Coal India, up 1.25 points at Rs.362.55.

The midcap index was down 63.21 points while the small cap index down 32.25 points.

While, 1,267 stocks advanced in the day’s trade, 1,335 scrips declined, with 116 stocks remaining unchanged.
Next Story : Mining Scam: SC Orders CBI Probe Against BSY's Kin
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store