Sensex drops 552.81 pts in opening trade

Mumbai, Jun 27: Snapping the two-day positive rally, the benchmark index of Bombay Stock Exchange (BSE) on Friday, June 27 slipped 552.81 points to 13,869.01 on high inflation expectations in the opening trade. After opening in negative territory at 14,127.76, down by 294.06 points, as against previous close of 14,421.82, the Sensex plunged further on sustained selling pressure across the sectors.

Even the Nifty index of National Stock Exchange (NSE) tumbled over 158 points to 4,156.85 following the downtrend in the market. BSE Mid-cap and Small-cap indices were under heavy pressure with a fall over 2-2.5 per cent and all the sectoral indices were languishing in the red. Banking and auto stocks too hit badly on prevailing worries over high interest rates.

MaX India Ltd dropped 6.98 per cent to Rs 153.25, HDFC Bank fell 5.24 per cent to Rs 1,058.45, Bank of India declined by 6.43 pc to Rs 230, Tata Motors was down by 5.14 pc to Rs 489.45 and Mahindra&Mahindra declined 5.89 pc to Rs 520.10. They all led the negative rally in the early trade.

Marketmen expect a bad trading session ahead as the Asian markets are also under downward pressure and back home, the annual inflation data is awaited.

UNI