Sensex down over 80 points; bank stocks fall

Mumbai, June 26 (IANS) The parleys to resolve the Greek debt crises and subdued investor sentiment led a benchmark index of the Indian equities markets to trade in the red during the mid-afternoon session on Friday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) traded more than 80 points down during the session.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also marginally down in the mid-afternoon session by 17.50 points or 0.21 percent at 8,380.50 points.

The Sensex of the S&P BSE, which opened at 27,880.72 points, was trading at 27,812.26 points (at 1.30 p.m.), down 83.71 points or 0.30 percent from the previous day’s close at 27,895.97 points.

The Sensex touched a high of 27,912.86 points and a low of 27,675.16 in the intra-day trade so far.

According to Angel Broking, Indian markets opened lower tracking the SGX Nifty and global cues.

“Indian markets rose (on Thursday) notably on the government’s decision to launch three flagship schemes, including the ‘Smart City’ mission to spend Rs.48,000 crore on creating 100 smart cities across India, bolstering optimism regarding the prospects of the domestic economy,” the firm said.

“Gains were also helped by short covering on the eve of the expiry of derivative contracts.”

During intra-day trade on Friday, healthy buying was observed in information technology (IT), consumer durables, automobile, technology, entertainment and media (TECK), and healthcare sectors.

However, stocks of bank, capital goods, metal, oil and gas and power came under heavy selling pressure.

The S&P BSE IT index rose by 129.42 points, consumer durables index went up 92.44 points, automobile index rose 65.87 points, TECK index was higher by 39.39 points and healthcare index was up 34.47 points.

The S&P BSE bank index receded by 201.26 points, capital goods index was lower by 166.99 points, metal index fell by 68.59 points, oil and gas index lost 58.87 points and power index was down by 11.21 points.

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