Sensex plunges 260 points; metal stocks down

A benchmark index of Indian equities markets closed Friday's trade 259.87 points or 1.02 percent down as metal, capital goods and bank stocks fell.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 25,406.87 points, closed at 25,329.14 points (provisional), down 259.87 points or 1.02 percent from its previous day's close at 25,589.01 points.

The Sensex touched a high of 25,406.87 points and a low of 25,232.82 intra-day.

This is the second consecutive fall of the Sensex in the previous trading session on the back of negative global cues and caution in the interest rate sensitive sectors.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed in the red. It was down 80.70 points or 1.06 percent at 7,568.55 points.

Heavy selling was observed in metal, capital goods, bank, automobile, oil and gas stocks. However, healthy buying was seen in fast moving consumer goods (FMCG) and healthcare scrip.

In Friday' trade, the S&P BSE metal index was down 406.74 points followed by capital goods index which was lower by 362.57 points, bank index lost 258.61 points, automobile index fell 214.69 points and oil and gas index moved down 161.61 points.

However, the S&P BSE FMCG index gained 6.67 points and healthcare index was up 6.29 points.

The major Sensex gainers were: Bharti Airtel, up 2.09 percent at Rs.373.70; DrReddys, up 0.89 percent at Rs.2,780.55; ITC, up 0.72 percent at Rs.348.45; Cipla, up 0.32 percent at Rs.436.50; and Tata Consultancy Service (TCS), up 0.23 percent at Rs.2,476.

The losers were: Sesa Sterlite, down 5.71 percent at Rs.268.50; Tata Power, down 3.79 percent at Rs.91.45; BHEL, down 3.74 percent at Rs.221.60; Tata Steel, down 3.22 percent at 537.55; and Gail India, down 2.85 percent at Rs.406.90.