Sensex closes 67 points down as bearish mood prevails (Roundup)

Mumbai, May 9 (IANS) Indian equities fell for the second day Wednesday as concern over European economies and the depreciating rupee weighed on the markets. Banks, oil and gas, steel, auto and power stocks came under intense selling pressure on heavy funds outflow.

Amid volatile trade, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 16,436.41 points, closed at 16,479.58 points, down by 0.40 percent or 66.60 points from its previous close of 16,546.18 points.

The Sensex touched a high of 16,615.74 points and a low of 16,422.93 points in the intra-day. The Sensex midcap was down by 59.39 points and smallcap fell by 80.86 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was also down 0.50 percent down at 4,974.80 points.

Market participants and analysts said trading was in the negative zone as uncertainty prevailed over the Greece bailout and the Indian rupee extended losses. Asian and US stocks earlier had closed in the red. The sentiment was also bearish in European markets.

The banking index fell 1.89 percent. Banking majors such as State Bank of India (SBI) fell by 3.64 percent at Rs.1,887.60, ICICI Bank was down 1.02 percent at Rs.821.80 and HDFC Bank was down 0.58 percent at Rs.512.45.

The metals index was down by 2.06 percent, oil and gas index down by 1.31 percent and auto index down by 0.96 percent.

Major Sensex losers included DLF, down 4.18 percent at Rs.182.10, Mahindra and Mahindra, down 3.21 percent at Rs.655.15, NTPC, down 2.92 percent at Rs.151.45, Jindal Steel, down by 2.90 percent at Rs.470.65 and Coal India, down 2.52 percent at Rs.326.45.

The major gainers included ITC, up 5.61 percent at Rs.240.50, TCS, up 2.13 percent at Rs.1,225.90, Hindaclo, up 1.36 percent at Rs.119, Bajaj Auto, up 1.19 percent at Rs.1,511 and Wipro, up 1.11 percent at Rs.408.65.

null