Sensex down more than 90 points, bank stocks fall

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

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) traded more than 90 points down during the session.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also marginally down in the late-afternoon session. It was down by 20.30 points or 0.24 percent at 8,377.70 points.

The Sensex of the S&P BSE, which opened at 27,880.72 points, was trading at 27,803.81 points (at 2.45 p.m.), down 92.16 points or 0.33 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, oil and gas, metal and fast moving consumer goods (FMCG) came under heavy selling pressure.

The S&P BSE IT index rose by 143.29 points, consumer durables index went up 122.43 points, automobile index rose 50.74 points, TECK index was higher by 44.67 points and healthcare index was up 24.06 points.

The S&P BSE bank index receded by 174.66 points, capital goods index was lower by 171.70 points, oil and gas index fell by 73.52 points, metal index lost 65.07 points and FMCG index was down by 31.28 points

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