Sensex trades 466 points down; capital goods stocks hit

” The BSE S&P capital goods index plunged by 444.35 points. This was followed by automobile index which dropped 380.56 points, FMCG index sank by 214.99 points and oil and gas index declined by 204.21 points.”
Mumbai, April 20 (IANS): Below-expectation quarterly-results coupled with negative global cues led to a benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), registering heavy losses and trading 466 points or 1.64 percent down during the late afternoon session on Monday.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading deep in the red during the late afternoon trade session. It was lower by 145.90 points or 1.70 percent at 8,460.10 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 28,525.65 points, was trading at 27,976.01 points (at 2.30 p.m.) in the late afternoon trade session, down 466.09 points or 1.64 percent from the previous day’s close at 28,442.10 points.

The Sensex touched a high of 28,539.46 points and a low of 27,944.64 points in the intra-day trade so far.

According to Angel Broking, the weakness observed in the Indian markets was due to the negative global cues such as last week’s sell-off in the Chinese futures, which fell sharply amid concerns about new trading regulations.

The financial situation of the Greek debt crisis and its fall-out on the Eurozone economies and also concerns about a string of disappointing fourth-quarter results added to the negative sentiments.

In Monday’s trade, all 12 sector-based indices of the BSE were trading in the red.

Stocks of capital goods, automobile, fast moving consumer goods (FMCG), oil and gas, information technology (IT), healthcare, metal, banks and technology, entertainment and media (TECK) came under heavy selling pressure.

The BSE S&P capital goods index plunged by 444.35 points. This was followed by automobile index which dropped 380.56 points, FMCG index sank by 214.99 points and oil and gas index declined by 204.21 points.

The S&P BSE IT index decreased by 196.92 points, healthcare index dived by 180.01 points, metal index receded by 167.20 points, bank index was lower by 156.53 points and TECK index was down by 111.77 points.