Sensex trades in red, oil and gas stocks fall

A benchmark index of Indian equities markets was trading was in red in the late afternoon trade session Thursday - 169.57 points or 0.67 percent down as oil and gas stocks tanked.

The markets were cautious on the expiry day of the June derivatives and the security situation in Iraq.

Heavy selling pressure was observed in oil and gas, metal and bank sectors, while healthy buying was sustained in capital goods, consumer durables and automobile stocks.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,217.69 points, was trading at 25,144.17 points around 2.00 p.m., down 169.57 points or 0.67 percent from the previous day's close at 25,313.74 points.

The Sensex touched a high of 25,309.33 points and a low of 25,117.82 points in the intra-trade.

The S&P BSE oil and gas index tanked 385.27 points, followed by metal index which dropped 88.38 points and bank index was lower by 59.35 points.

However, capital goods index augmented by 151.44 points, consumer durables index was up 62.64 points and automobile index gained 53.04 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading 41.40 points or 0.55 percent down at 7,527.85 points.

--Indo-Asian News Serviec

rv/vm