Sensex trails by 128 points in afternoon trade

Mumbai, Apr 25 (UNI) The 30 share Sensitive Index (Sensex) of the Bombay Stock Exchange (BSE) traded 128 points down at 11,786 points at 1350 hrs.

Crude oil prices at USD 73.18 per barrel were one of the main worries for the market affecting the margins in the manufacturing sectors.

Earlier the benchmark index of the Bombay Stock Exchange (BSE) opened firm at 11,943 with a gap of 27 points but soon slipped into the red due to negative sentiment after a long bull run.

The National Stock Exchange (NSE) S&P CNX Nifty index was down by 47 points to 3,501 points.

Earlier the Sensex dipped as low as 11,765.07 in the mid-morning session with a loss of 150 points from the last close of 11,915 points.

The pressure on the markets was from almost all sectors led by the BSE Metal index trailing by 1.62 per cent, BSE Healthcare Index was down by 1.37 per cent, BSE Auto index also down by 1.28 per cent, BSE IT index was down by 1.13 per cent and BSE Teck index was down by 1.19 per cent, all other sectoral indices were in the red too.

However, there was buying in the small cap companies as the BSE smallcap index was up by 0.69 per cent, also BSEbankex was up by 0.17 per cent and BSE Consumer Durable index was up by 0.58 per cent.

Top losers on the Sensex were Ranbaxy, NTPC, Tata Power, Hindalco, Bajaj Auto, Tata Steel, Maruti, Grasim Industries, Infosys, TCS.

The top gainers were SBI, BHEL, HDFC Bank, Satyam Computers, ICICI Bank, HDFC, Cipla and Wipro .

Brokers, however, felt that the bull run was still on and this was only a temporary correction in the market.

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