Sensex slumps by 56.20pts in opening trade

Mumbai, June 13: The barometer Sensex today slumped by 56.20 points during early trade on the Bombay Stock Exchange (BSE) to hover at 14,074.75 from it's previous close of 14,130.95 after opening stronger at 14,139.92, on discouraging cues from global indices.

On the other hand, the Nifty Index also tanked by 22 points on the National Stock Exchange (NSE) at 4,133.20 from its previous close of 4,155.20 after opening unchanged.

Market analysts said the total turnover on the premier BSE amounted to Rs 448 crore and explained that the market breadth here was even as 753 shares have advanced as compared to 750 that have declined. Among the Sensex pack, 16 slipped while the rest gained, they said.

''Foreign Institutional Investors (FIIs) were net buyers in equities of approximately Rs 335.30 crore while Domestic Institutional Investors (DIIs) sold almost Rs 80.86 crore of equities yesterday'' traders said.

Today's early gainers include Dr Reddy's Laboratories (DRL), Tata Motors, Maruti Udyog, Bajaj Auto, Reliance Industries (RIL), ONGC and ICICI Bank.

The laggards were ACC, HDFC, Hero Honda, SBI and HDFC Bank.

Majority of Asian indices edged lower today, mirroring the overnight fall in the US markets, with export-related shares such as Toyota Motor Corp retreating on concerns over global growth, while Sumitomo Metal Mining and BHP Billiton lost ground on weaker metals prices. Japan's Nikkei slipped 0.21 per cent, while Hong Kong's Hang Seng index slumped 0.14 per cent.

South Korea's Seoul Composite was down by 0.14 per cent, Singapore's Straits Times slipped by 0.02 per cent, however, China's Shanghai Composite was up by 2.10 per cent to 4,157.23 US stocks plunged yesterday as investors grappled with a seemingly relentless rise in bond yields. The Dow Jones industrial average slipped 129.95 points, or 0.97 per cent, to 13,295.01. The blue chip index is now 381 points, or 2.8 per cent, below its all time closing high of 13,676.32, reached earlier on June 4, this year.

The broader stock indices also declined. The Standard&Poor's 500 index fell 16.12 points, or 1.07 per cent, to 1,493.00, while the Nasdaq composite index dropped 22.38 points, or 0.87 per cent, to 2,549.77.

Crude oil was little changed in New York after fall in gasoline yesterday on speculation US fuel stockpiles rose a sixth week as refiners increased output. Crude oil for July delivery was USD 65.29 a barrel, down six cents, in after-hours electronic trading on the New York Mercantile Exchange in Singapore.

UNI

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