Sensex ends in red; IT stocks plunge (Roundup)

A benchmark index of Indian equities markets ended in the negative territory Wednesday, as information technology (IT), technology, entertainment and media (TECK) and fast moving consumer goods (FMCG) came under sustained selling pressure.

However, capital goods, metal, automobile, bank and consumer goods sectors rallied.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 24,909.03 points, ended at 24,805.83 points -- down 52.76 points or 0.21 percent from the previous day's close at 24,858.59 points.

The Sensex touched a high of 24,925.90 points and a low of 24,773.93 points in trade.

The S&P BSE IT index dropped by 107.59 points, TECK index was down 48.94 points and FMCG index was lower by 15.55 points.

However, BSE capital goods index gained 194.68 points, followed by metal index which was up 154.27 points, automobile index increased by 97.25 points, bank index was higher by 90.69 points and consumer durables index surged 64.61 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed in negative territory. The Nifty closed trade 13.60 points or 0.18 percent down at 7,402.25 points.

Major Sensex gainers were: Hero MotoCorp, up 3.57 percent at Rs.2,543.35; Hindalco Inds, up 3.48 percent at Rs.160.55; Hindustan Unilever, up 2.26 percent at Rs.605.35; Tata Steel, up 2.06 percent at Rs.536.60; and Bajaj Auto, up 1.56 percent at Rs.1,999.75.

Major Sensex losers were: Tata Consultancy Service (TCS), down 1.92 percent at Rs.2,089.40; Bharti Airtel, down 1.59 percent at Rs.353.45; Reliance Industries, down 1.54 percent at Rs.1,077.90; ONGC, down 1.30 percent at Rs.411.40; and HDFC, down 1.14 percent at Rs.902.35.

Among the Asian markets, Japan's Nikkei closed 0.22 percent up. While China's Shanghai Composite Index was lower by 0.60 percent, Hong Kong's Hang Seng ended 0.66 percent down.

In Europe, London's FTSE 100 was trading 0.32 percent down and Germany's DAX Index was lower by 0.20 percent, while the French CAC 40 Index was down by 0.14 percent at the closing bell here.