Sensex crashes by 115 pts on weak Asian markets,oil pirce surge
Mumbai, Apr 24: The Sensex of BSE today crashed by 115.06 points, quoting below 12,000 barriers and ended at 11,915.24 points following a reports that weak Asian markets and a surge in oil price to above USD 75 a barrel level, triggered a correction on the bourses today, brokers said.
The market remained weak almost throughout the trading session, accentuating at the fag end.
Asian stocks were mostly in the red. Japan's Nikkei 225 average was down 2.8 per cent as a rise in the yen cast a shadow over the earnings prospects of exporters. Concerns about political uncertainty in Japan also troubled Japanese stocks. Key indices in Hong Kong, South Korea and Singapore were down between 0.4-1.4 per cent.
The 30-share BSE Sensex plunged 115.06 points (0.96%) to settle at 11,915.24. The Sensex recorded high and low at 12,071.07 and 11,882.48 points respectively before it opened high at 12,063.73 points from it previous close of 12030.30 points.
The S&P CNX Nifty was down 24.15 points (0.68%) to settle at 3,548.90.The Nifty opened low at 3572.80 points. Later it registered a high and low at 3585.35 and 3536.30 points respectively during the day.
Selling was conspicuous in IT stocks, in private sector banks HDFC Bank and ICICI Bank, as well as auto shares. Select metal and FMCG stocks advanced. Index heavyweight Reliance Industries (RIL) also weakened at the end of the trading session.
Select side-counters surged as investors appetite for individual companies remained strong. Shares of companies sitting on large real estate and real estate developers were in demand. Select construction stocks and auto component makers, too, edged higher.
Side-counters Malabar Building, Bombay Dyeing, Pratibha Industries, Indo Tech Transformers, Hindustan Motors, National Oxygen, Essar Oil, Suashish Diamond, Noida Toll Bridge Company, 3M India, Atlas Copco, Yuken, Suprajit Engineering, Rico Auto, Micro Tech, Numeric Power, Gangotri Textiles, Bata India, Kalyani Brake, Financial Technologies, Simplex Infrastructure, Sai Service Station, NOCIL, BL Kashyap, Whirlpool, Electrosteel Castings, Gabriel India, Reliance Industrial Infrastructure, Hyderabad Industries, Madhav Marbles, Linc Pen&Plastics, Shalimar Paints, BSEL Infrastructure, Jagatjit Industries, Elder Pharma, HEG, Subex Systems, Finolex Industries, surged.
The market breadth was positive. While 1,410 stocks rose on BSE, 1,070 declined. A total of 73 scrips were unchanged.
BSE clocked a turnover of Rs 4,391 crore, much lower than Friday's Rs 5,680 crore, brokers added.