Sensex closes 129 points down; metal, power stocks slump (Roundup)

Mumbai, July 9 (IANS) Amid negative global cues, a benchmark index for Indian equities markets closed 129 points lower Monday on profit booking ahead of the quarterly results.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,449.93 points, closed at 17,391.98 points, down 0.74 percent or 129.14 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.79 percent lower at 5,275.15 points.

The rupee too slipped below 56 against the dollar Monday, the lowest level in more than a week, tracing similar weakness in other Asian currencies on renewed concerns over the global economic growth.

Brokers said investors remain worried about global economic growth after sluggish US jobs data.

Also, a report about the alleged unearthing of a "stock market scam" by the Intelligence Bureau dampened sentiment.

The BSE metal index was down 170.07 points, while the power index and the capital goods index were down 30.91 points and 126.72 points respectively.

Major Sensex losers were Hero MoroCorp, down 2.62 percent at Rs.2,030; Jindal Steel, down 2.56 percent at Rs.443.50; Tata Steel, down 2.32 percent at Rs.437.05; Bajaj Auto, down 2.30 percent at Rs.1,505.15; Maruti Suzuki, down 2.28 percent at Rs.1,189.

The only three Sensex gainers were TCS, up 0.95 percent at Rs.1,258.10; Dr Reddy's Lab, up 0.82 percent at Rs.1,646.60 and Hindalco Inds, up 0.12 percent at Rs.124.20.

In the Asian region, the Japan's Nikkei closed down 1.37 percent, while Hong Kong's Hang Seng closed 1.88 percent down and China's Composite index closed 2.37 percent down.

At closing bell here, European markets were trading in the red as investors are not hopeful of progress on the Eurozone debt crisis at a meeting of finance ministers later in the day in Brussels.

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