Monday, June 22, 2009

Sensex Drops Sharply Down As Europe Opens Weak

. Monday, June 22, 2009

By stockOzone team

Selling pressure in benchmarks intensified on Monday with poor opening of the European markets. The worst hit were oil & gas, power and metals stocks while banks and FMCG bucked the trend.

At 2 pm, Bombay Stock Exchange’s Sensex was at 14395.90, down 125.99 points or 0.87 per cent. The index touched an intra-day low of 14371.87 and high of 14668.40.

National Stock Exchange’s Nifty was at 4256.80, down 56.80 points or 1.32 per cent. The broader index hit an intra-day high of 4352.25 and low of 4242.75.

BSE Midcap Index was up 0.04 per cent and BSE Smallcap Index was slipped 0.04 per cent.

Amongst the sectoral indices BSE Oil&gas Index was down 2.49 per cent, BSE Power Index fell 1.79 per cent and BSE Metal Index declined 1.20 per cent.

BSE Bankex was up 0.88 per cent and BSE FMCG Index moved 0.67 per cent higher.

Mahindra & Mahindra (-3.70%), Reliance (-2.53%), Tata Power (-2.52%), NTPC (-2.45%) and TCS (-2.35%) were amongst the Sensex losers.

Market breadth was positive on the BSE with 1166 advances and 1333 declines.

European markets opened lower as traders booked profits in commodities and oil companies. FTSE 100 was down 0.85 per cent, DAX declined 0.95 per cent and CAC 40 slipped 1.50 per cent.

Disclosure: Author does not own any of the stocks discussed here.

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