Sensex falls 126 points; auto, realty stocks slump

Mumbai, May 3 (IANS) A benchmark index for Indian equities markets was trading 126 points down at around noon Thursday, led by selling pressure in auto, realty and banking stocks due to sluggish global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 17,271.77 points, was ruling at 17,176.12 points at the noon trade, down 0.73 percent or 125.79 points from its previous close at 17,301.91 points.

The Sensex touched a high of 17,271.77 points and low of 17,148.66 points in the intra-day.

The wide-based 50-scrip S&P CNX Nifty of the National Stock Exchange was down 0.77 percent at 5,199 points.

There was heavy selling pressure in auto, realty and banking stocks.

The BSE auto index was down 1.97 percent. The realty index fell 1.80 percent and the banking index was trading 1.62 percent down.

Hero MotoCorp plunged 6.73 percent at Rs.2093.90 on earnings concern.

Banking stocks slumped a day after the Reserve Bank of India (RBI) announced guidelines for implementation of the Basel III norms.

ICICI Bank fell 3.03 percent at Rs.854.95. The country's largest lender State Bank of India was down 2.12 percent at Rs.2,094.

Other major Sensex losers included: DLF, down 2.50 percent at Rs.187.20; Coal India, down 2.20 percent at Rs.338.25 and Tata Steel, down 1.71 percent at Rs.454.25.

Only eight of the 30 Sensex scrips were in the positive terrain. Hindustan Unilever, up 1.53 percent at Rs.431.50; Wipro, up 1.48 percent at Rs.410.50; HDFC Bank, up 0.97 percent at Rs.555.15 and Infosys, up 0.86 percent at Rs.2492.50 were among the prominent Sensex gainers.

null