Sensex down 53 points; auto stocks lower

A week after it lost nearly one percent due to negative global cues, a benchmark index of Indian equities markets Monday fell 53.16 points or 0.20 percent in the mid-afternoon session as automobile, healthcare and capital goods stocks plunged.

Heavy selling pressure was observed in oil and gas and fast moving consumer goods (FMCG). All sector-based indices of the S&P Bombay Stock Exchange (BSE) were trading in the red, except information technology (IT), metal and technology, entertainment and media (TECK) scrip.

The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 26,275.07 points, was trading at 26,119.76 points (at 1.00 p.m.) in the mid-afternoon trade session, down 53.16 points or 0.20 percent from the previous day's close at 26,297.38 points.

The Sensex touched a high of 26,276.57 points and a low of 26,092.69 points in the trade so far.

According to Angel Broking, the Indian markets opend negatively tracking SGX Nifty and Asian markets. US market ended on negative note owing to European growth concerns which led to global negative sentiment.

"European markets closed in the negative territory on Friday, extending this month's steep losses on concerns the European Central Bank will dither as Germany heads

for recession," the broking firm said.

The S&P BSE automobile index was down 141.13 points, followed by healthcare index which was lower by 128.90 points, capital goods index lost 80.14 points, oil and gas index decreased by 55.53 points and FMCG index fell 52.43 points.

However, IT index was up 147.69 points, followed by metal index index which gained 116.56 points and TECK index was higher 59.27 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also down. It fell 6.00 points or 0.08 percent at 7,853.95 points.