Sensex Drops 100 Points; ONGC, Bajaj Auto Slump
By IANS
Mumbai: Indian equities markets were under pressure for the fourth consecutive session with benchmark Sensex trading nearly 100 points down in the afternoon session.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened marginally higher at 17,651.14 points, was trading at 17,532.79 points in the late afternoon session, down 0.56 percent or 98.92 points from its previous close at 17,631.71 points.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red for the fourth session in row. The Nifty was ruling 0.67 percent or 35.85 points down at 5,298.75 points.
There was heavy selling pressure in realty, auto, metal and oil and gas stocks. The BSE realty index was down 2.09 percent, auto index fell 1.33 percent and metal index was down 1.11 percent.
Oil and Natural Gas Corporation (ONGC) slumped for the second day after the official auditor Comptroller and Auditor General (CAG) pulled up the firm for not placing emphasis on exploring oil and gas and being tardy in monetising discoveries. ONGC scrip fell 2.18 percent at Rs.275.95.
Other major Sensex losers were: Sterlite Inds, down 4.35 percent at Rs.99.95; Bajaj Auto, down 3.65 percent at Rs.1,632.50; BHEL, down 2.80 percent at Rs.216.60; and Hero MotoCorp, down 2.06 percent at Rs.1,873.40.
Only 10 of the 30 Sensex scrips were in the positive. Tata Power, up 1.88 percent at Rs.100.05; Jindal Steel, up 1.51 percent at Rs.364.15; Wipro, up 1.10 percent at Rs.367.60; and Coal India, up 0.51 percent at Rs.361.10 were among the major Sensex gainers.
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