Sensex wilts under selling pressure, down 90 pts

By Staff
|
Google Oneindia News

Mumbai, Oct 31: The Bombay Stock Exchange Sensitive Index (Sensex) in intra-noon trade was trading 90 points below the previous close, as traders booked profit at higher margin.

After opening in the green by 24 points at 13, 048.76, the sensex is currently trading at 12,934.77.

The volatilty according to experts is temporary and the sensex is expected to touch new highs soon. The RBI credit policy has also had a small bearing on the prices. RBI today announced a 25bps hike in the repo rate from seven per cent to 7.25 per cent, however the reverse repo rate has been left untouched at six per cent. Bonds have turned volatile after the credit policy today.

Major sectoral indices on the BSE are trading down in the red, led by the tech sector which is down by 1.46 per cent and is followed by the auto sector which is also down by 0.90 per cent. The consumer durables sector is down by 0.96 per cent.

The pack of gainers on the BSE-30 index were led by HDFC, Satyam Computers, ONGC, ITC, L&T, Hero honda, Hidnalco and TCS all up between 0.16 to 1.79 per cent.

The losers are Reliance communications, Bharti Airtel, Wipro, Gujarat Ambuja, Tata Motors, HDFC bank, Tata Steel, Reliance Energy, Bajaj Auto and Infosys, who are all down between 1.56 to 4.21 per cent.

UNI

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