Sensex trades in red; power stocks fall

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Mumbai: A benchmark index of Indian equities markets Tuesday fell 36 points or 0.14 percent in the early morning session as power, realty and information technology (IT) stocks plunged.

Heavy selling pressure was observed in healthcare and banks. All sector-based indices of the S&P Bombay Stock Exchange (BSE) were trading in the red, except information technology (IT) and technology, entertainment and media (TECK) scrips.

The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 26,537.42 points, was trading at 26,348.02 points (at 10.30 a.m.) in the early morning trade session, down 36.05 points or 0.14 percent from the previous day’s close at 26,384.07 points.

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The Sensex touched a high of 26,550.79 points and a low of 26,325.39 points in the trade so far.

The S&P BSE power index was down 121.69 points, followed by realty index which was lower by 110.02 points and IT index lost 69.50 points.

However, bank index was up 104.66 points, healthcare index gained 67.08 points and capital goods index was higher by 51.25 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also down. It fell 23.55 points or 0.30 percent at 7,860.70 points.

According to Angel Broking, the Indian markets opened in positive territory tracking SGX Nifty.

“US markets closed in the negative territory Monday. The weakness that emerged on US markets partly reflected lingering concerns about global economic growth and monetary policy divergence,” the broking firm was quoted in a statement.

“European markets steadied Monday, but gains were tempered by scepticism about the European Central Bank’s promise of further measures to bolster the region’s sluggish economy.”

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