Sensex drops by 100.62 points, ends below 16K

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Mumbai, June 3: The Bombay Stock Exchange sensitive index today closed below the 16K level at 15,962.56, down 100.62 points from its previous close of 16,063.18 amidst bouts of volatility. After opening with a wide negative gap of 211.46 points at 15,851.72, the benchmark index dropped at an intraday low of 15,709.51 on sustained selling pressure across the sector. However, it bounced back in late trading but ended the session in red.

Meanwhile, the broader based S&P CNX Nifty index of National Stock Exchange fell 23.70 points to close at 4,715.90. The market staged a smart intra-day rebound in second half of the trading session led by recovery in Reliance Industries (RIL). Panic selling in early trade by wary investors kept the market depressed in the first half, brokers said.

Overall, the market witnessed volatile trading throughout the day following the global sentiments, brokers added. The market breadth was negative on BSE with 1810 shares declining as compared to 860 that advanced and 55 remained unchanged. The BSE Mid-Cap index declined 0.56 pc to 6,547.30 and the BSE Small-Cap index shed 0.97 pc to 7,882.29. The total turnover was quoted at Rs 5229 crore on BSE against Rs 4,809.14 crore in the previous session.

Turnover in NSE's futures&options segment amounted to Rs 40448.71 crore as compared to Rs 35257.77 crore in the previous session.

Sectoral indices on BSE witnessed a mixed trend. Oil&Gas index was up 2.02 pc, Power index was down 2.64 pc, Bankex declined 0.77 pc and Capital Goods index plunged 2.24 pc. Bharti Airtel slumped 4.23 pc to Rs 840.55 on 4.15 lakh shares. The stock had hit an intra-day high of Rs 868.65 in opening trade. It was the top loser from the Sensex pack.

Select scrips staged a smart recovery from their early lows.

Reliance Infrastructure ended down 3.72pc to Rs 1126.90, off day's low of Rs 1085, HDFC was down 2.87 pc to Rs 2458, off day's low of Rs 2432, Bharat Heavy Electricals by 2.86pc to Rs 1550, off day's low of Rs 1501.15 and Jaiprakash Associates ended 2.31pc down to Rs 207, off day's low of Rs 200.20, after recovery.

However, Reliance Industries (RIL) gained 2.31 pc to Rs 2410 on 11.65 lakh shares. As per reports, the Punjab Infrastructure Development Board (PIDB) has received proposals from Reliance Industries and Omaxe to set up an expressway from Pathankot to Ajmer and a ring road around Amritsar respectively.

Larsen&Toubro declined 2.44pc to Rs 2845, ICICI Bank lost 0.90pc to Rs 757.95 after its ADR slumped 6pc and HDFC Bank shed 0.40pc to Rs 1306 after its ADR fell 5.5pc, India's largest lender State Bank of India (SBI) slipped 0.94pc to Rs 1381.

UNI

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