Sensex trades in red; auto stocks down

A benchmark index of Indian equities markets was trading in the negative territory in the late afternoon trade session Wednesday, down 127 points or 0.50 percent as automobile and oil and gas stocks declined.

The markets were cautious amidst weak global cues as a result of the worsening security situation in Iraq and the US threatening intervention with crude oil prices scaling to a nine-month high.

However, healthy buying was observed in healthcare stocks.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,565.19 points, was trading at 25,393.74 points around 2.30 p.m. trade session, down 127.45 points or 0.50 percent from previous day's close at 25,521.19 point.

The Sensex touched a high of 25,609.28 points and a low of 25,114.30 points during the trade so far.

The S&P BSE automobile index was down 100.62 points, oil and gas index moved lower by 79.57 points, consumer goods slipped 73.25 points, metal index fell 67.62 points and information technology (IT) index lost 56.56 points.

However, healthcare index was higher by 51.70 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the negative territory. It was down 30.65 points or 0.40 percent at 7,601.05 points.