Sensex closes 160 points down; bank stocks fall

A benchmark index of Indian equities markets closed trade 160 points down Tuesday, a day after key economic data on industrial production and inflation renewed India Inc's hopes for a lending rates cut.

Apart from fast moving consumer goods (FMCG) and healthcare index, all sector-based indices of the S&P Bombay Stock Exchange (BSE) ended the day's trade in red.

Heavy selling pressure was observed in banking, consumer durables, oil and gas, capital goods and information technology (IT) stocks.

The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 27,611.56 points, closed the day's trade at 27,425.73 points, down 159.54 points or 0.58 percent from the previous day's close at 27,585.27 points.

The Sensex touched a high of 27,670.19 points and a low of 27,324.58 points in the intra-day trade.

The S&P BSE banking index was down 118.14 point, followed by consumer goods index which was lower by 116.97 points, oil and gas index which fell 103.39 points, capital goods index that dipped by 103.31 points and IT index which slipped 51.10 points.

However, FMCG index gained by 57.10 points and healthcare index was higher by 19.96 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed the day's trade down 23.60 points or 0.28 percent at 8,299.40 points.