Sensex falls for second day; ends 44 points down

The Indian stock markets' key indices closed in the red for the second straight day Thursday as oil and gas stocks slumped on escalating tensions in Iraq.

The 30-scrip S&P Sensex (sensitive index) of the Bombay Stock Exchange (BSE), which opened in the positive at 25,327.09 points, ended the day at 25,201.80 points, down 0.18 percent or 44.45 points from its previous day's close at 25,246.25 points.

The index witnessed volatile session touching a high of 25,425.85 points and low of 25,069.66 points in the intra-day.

The benchmark Sensex had slumped 275 points or 1.08 percent Wednesday.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) closed 0.23 percent or 17.50 points down at 7,540.70 points.

Spike in crude oil prices due to escalating tensions in Iraq dampened investors' sentiments.

Oil and gas index of the BSE slumped 3.11 percent. ONGC tumbled 5.13 percent to Rs.420.45. Reliance Industries slumped 2.38 percent to Rs.1041.40.

The BSE banking index fell 0.91 percent. Power index dropped 0.80 percent and capital goods index fell 0.60 percent.

However, there was good buying support in technology and consumer durables stocks. IT index of the BSE rose 1.89 percent. Consumer durables index advanced 0.94 percent and healthcare index closed 0.59 percent higher.

The major Sensex losers were Maruti Suzuki, 2.48 percent down at Rs.2378.50; Coal India, 1.94 percent down at Rs.386.40; Gail India, 1.88 percent down at Rs.442.70; SBI, 1.21 percent down at Rs.2606.10; and HDFC Bank, 1 percent down at Rs.825.65.

Prominent Sensex gainers included: TCS, up 2.23 percent at Rs.2275.10; Infosys, up 2.09 percent at Rs.3312.40; Mahindra & Mahindra, up 1.41 percent at Rs.1175.70; Wipro, up 1.25 percent at Rs.537.25; and Sun Pharma, up 1.09 percent at Rs.641.95.