Sensex plunges by 120.10 pts, closes at 20,345

Written by:
Subscribe to Oneindia News

Mumbai, Jan 3: After two consecutive positive sessions, the Bombay Stock Exchange sensitive index today shed 120.10 points to close at 20,345.20 amid choppy trade on weak global cues.

The benchmark Sensex opened with a negative gap of 55 points at 20,403.91 over its previous close of 20,468.91 on profit booking after yesterday's strong gains in banking and reality stocks. Sensex swung between positives and negatives till late afternoon trade. It touched a day's low of 20,293.87, declined by 226 points from its intra-day high of 20,519.70 during the day trade.

The market edged lower due to decline in major stocks like IT, consumer durables, bank and reality. BSE Mid-cap and Small-cap ended almost flat, after hitting all-time intraday high. However, the broader based Nifty index of National Stock Exchange struck an all-time intra-day high at 6,230, before finally ending flat at 6,178.55.

Total turnover on BSE reached Rs 11,645 crore by the end of the day's session. The BSE Mid-Cap index was down 0.02 to 10,056.87 while the BSE Small-Cap index slipped 0.09 to 13,896.71. Both these indices outperformed the Sensex. BSE Mid-Cap index struck all-time high of 10,151.78 and the BSE Small-Cap index hit all-time high of 14,092.31 today. Among the Sensex pack, 24 declined while the rest gained. Asian and European markets were trading lower today. The US market ended in the red yesterday.

Most of the sectoral indices ended in red. IT declined by about 2 per cent followed by consumer durables, which went down by 1.94 pc, Bankex was down 1,68 pc and reality declined by 1.30 pc. However, Power, PSU and Oil&Gas indices gained 3.17 pc, 2.20 pc and 1.5 pc respectively.

IT pivotals extended their recent fall. TCS and Wipro declined by about 3 per cent, while Satyam Computers was down 2.52 pc and Infosys Technologies declined by 1.95pc.

Cement stocks declined on selling pressure after the Tamil Nadu government on wednesday warned cement companies that it would take over all cement factories in the state in public interest if cement makers did not lower prices. Diversified company Grasim was the top loser from Sensex pack. The stock lost 3.97 pc to Rs 3606.

However, shares from oil drilling and exploration sectors surged on the back of rally in crude prices. India's biggest oil exploration company in terms of market capitalisation, Oil&Natural Gas Corporation gained 3.93 pc to Rs 1319.45 on 4.39 lakh shares.

National Thermal Power Corporation surged 6.78 pc on 65.24 lakh shares. It was the top gainer from Sensex pack. Reliance Energy (REL) gained 6.13pc to Rs 2513.40. The stock hit all-time high of Rs 2585 in late trade. As per reports, Reliance Power, in which REL holds 50pc stake, plans to raise as much as USD 3 billion in the nation's biggest initial public offering. Reliance Power, the power generating unit of REL, will sell 26 crore shares at a price band of Rs 405 to Rs 450 per share.


Please Wait while comments are loading...