Sensex slips over 100 points; banking, oil and gas stocks drop

A benchmark index of Indian equities markets was trading 101.34 points or 0.41 percent down Tuesday, a day after Bharatiya Janata Party-led government was sworn-in. Banking and oil and gas stocks slumped.

Selling pressure was seen in banking, oil and gas, capital goods and metal sectors, while some good buying was observed in IT sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 24,748.10 points, was trading at 24,615.54 points in the early session, down 101.34 points or 0.41 percent from the previous day's close at 24,716.88 points.

The Sensex touched a high of 24,777.31 points and a low of 24,611.18 points in trade.

The S&P BSE bankex went down by 161.71 points, oil and gas index dropped by 136.71 points, capital goods index slipped by 89.45 points and metal index slumped 81.05 points. However, IT index gained 83.42 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also went down by 22.45 points or 0.31 percent and was trading at 7,336.60 points.