Sensex fell by 385 pts as PSU took a heavy toll

Mumbai, Jul 17: Influenced by the mid-east crisis, the BSE sensitive index (Sensex) fell by 385 points today, as the auto, PSU and Oil&Gas sector took a heavy toll.

As Israel-Lebanon crisis entered its fifth day today and with no signs of cease fire, the situation is set to blow into a full scale war soon. Yesterday, Lebanon based Hezbollah group attacked the Israeli city of Haifa and killed nine people, after Israel blasted Lebanon's International airport killing many civilians in the process.

All this has led to hike in the crude oil prices around the globe and the emergent conditions have affected the Auto, Oil&Gas and various other concerned sectors to decline on bourses globally.

Indian Auto and PSU sectors have taken a strong beating by declining 4.38 and 4.59 per cent respectively with no signs of easing of tension.

Organisation of Petroleum Exporting Countries (OPEC) even now are adamant on not increasing their production capacities, which has aggravated the situation further with crude oil price touching US Dollar 78 per barrel mark.

Most of the Asian benchmark indices including, Japan, Taiwan, SIngapore, Indonesia and Malaysia traded in the red between 0.78 to 2.9 per cent today, Even all the BSE sectoral indices closed in the red led by PSU, Auto, Teck, Capital Goods, FMCG, Metals, and Oild and Gas, all down between 3.19 to 4.59 per cent.

Major gainers today were- Arvind mills, Raymond, Tata Teleservices, Tata Power, Mc Dowells, Crompton Greaves, and Nestle all up between 0.08 to 3.25 per cent.

Loser are Reliance Communications, ONGC, Dr Reddy's Lab, Tata Motors, HDFC, Reliance Energy, Satyam Computers, HLL, Maruti Udyog and Bajaj Auto all down between 4.07 to 7.78 per cent.

The major gainers in the market were- Arvind mills up by 3.25 per cent to Rs 63.25, Raymond by 1.84 per cent to Rs 410.40 and Tata Tele Services up by 0.68 per cent to Rs 481.70. The losers on the index were- Reliance Communications 7.78 per cent to Rs 248.25, ONGC by 7.18 per cent to Rs 1028.35, Tata Motors by 5.81 per cent to Rs 696.85 and HDFC by 5.39 per cent to Rs 1,082.05.

The breadth in the broader market was in the favour of 680 declines as against 1711 advances out of total 2452 shares traded on the BSE.

UNI

Related Stories