Sensex falls for third straight day on Iraq tensions

The Indian stock markets' key indices closed in the red for the third straight day Friday due to selling pressure in auto, capital goods, power and metal stocks as escalating tensions in Iraq dampened investors' sentiments.

The 30-scrip S&P Sensex (sensitive index) of the Bombay Stock Exchange (BSE), which opened in the positive at 25,237.54 points, ended the day at 25,105.51 points, down 0.38 percent or 96.29 points from its previous day close at 25,201.80 points.

The Sensex touched a high of 25,276.31 points and low of 25,056.18 points in the intra-day.

This is the third straight day of decline in the 30-scrip index. The Sensex dropped 44 points and 275 points in the previous two sessions respectively.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also closed in the red for the third straight day. The Nifty closed 0.39 percent or 29.25 points down at 7,511.45 points.

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

There was selling pressure in power, metal, capital goods and auto stocks.

The BSE auto index fell 0.91 percent. Power index dropped 0.78 percent. Oil and gas index fell 0.46 percent and metal index fell 0.65 percent.

Mahindra & Mahindra, 2.87 percent down at Rs.1141.90; Tata Power, down 2.74 percent at Rs.101.35; Hindalco Inds, down 2.18 percent Rs.163.65; Sun Pharma, 1.68 percent at Rs.631.15; and SSLT, down 1.08 percent at Rs.291.80, were among the major Sensex losers.

Only seven of the 30 Sensex scrips closed in the positive. Axis Bank, 1.35 percent higher at Rs.1,867.65; Bajaj Auto, 0.64 percent higher at Rs.2,174.70; TCS, up 0.50 percent at Rs.2,286.50; and Bharti Airtel, up 0.24 percent at Rs.338.30 were the prominent Sensex gainers.