Sensex down 170 points, interest sensitive stocks hit

Mumbai, June 2 (IANS) Investor anxiety — over whether the apex bank would cut key lending rates led a barometer index of the Indian equities markets to trade deep in the red during the pre-noon session on Tuesday.

The benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading 170 points or 0.61 percent down.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the negative zone. It was lower by 54.25 points or 0.64 percent at 8,379.15 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,7890.73 points, was trading at 27,678.80 points (at 10.45 a.m.), down 170.19 points or 0.61 percent from the previous day’s close at 27,848.99 points.

The Sensex has touched a high of 27,902.53 points and a low of 27,629.23 points in the intra-day trade so far.

All the 12 sector-based indices of the BSE were down. Heavy selling was observed in interest sensitive stocks like banking, automobile, fast moving consumer goods (FMCG), metals and capital goods.

The S&P BSE bank index receded by 100.11 points, automobile index fell by 90.88 points, FMCG index was lower by 85.79 points, metals index dwindled by 85.33 points and capital goods index was down by 50 points.

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