Sensex down by 139.34 pts, close at 13,330.51

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{image-sensex, big_14072008.jpg}Mumbai, Jul 14: The Sensex of the Bombay Stock Exchange today slid by 139.34 points to close at 13,330.51 on sustained selling pressure in select blue-chip stocks amid bouts of volatility.

The benchmark index resumed the day with a negative gap of 109.51 points at 13,360.34 from its previous close of 13,469.85 and furthered the losses. However, it gained 89.51 points at day's high of 13,559.36 in mid-afternoon trade but later failed to sustain the gains and slipped at a day's low of 13,269.62, lost 200.23 points in late trade before closing with a slight recovery.

Meanwhile, the broader based S &P CNX Nifty index of National Stock Exchange fell 9.03 points to close at 4039.70.

The key indices ended the volatile session with losses for the second straight day on sustained selling in IT and select blue-chip stocks, brokers said.

IT pivotals tumbled, hit by sharp fall in American depository receipts (ADRs) on the New York Stock Exchange (NYSE) on Friday.

The market breadth was negative as 1587 shares declined against 983 that advanced and 73 remained unchanged. The BSE Mid-Cap index slipped 0.64pc to 5,330.80 and the Small-cap index fell 1.10pc to 6,640.06.

The total turnover of Rs 4191 crore was quoted on BSE as compared to Rs 5,386.39 crore in previous session. Turnover in NSE's futures and options segment amounted to Rs 40096.24 crore against Rs 50149.82 crore in the previous session.

The BSE Sensex was down 6956.48 points or 34.29 per cent in the calendar year 2008 so far from its close of 20,286.99 on December 31, 2007. The all-time high of 21,206.77 was struck on January 10, 2008.

Sectoral indices on BSE ended the session on a mixed note. IT index fell sharply by nearly 6 percent, followed by Bankex and FMCG declining by 1.23 and 1.46 per cent respectively. BSE Metal rose 1.46pc, Auto was up 1.05pc and Oil &Gas gained 1.11 pc.

Country's pharma major, Ranbaxy Laboratories tumbled 10.83 pc to Rs 473.90 on 28.61 lakh shares and was the top loser from the Sensex pack. The stock was hammered on reports that the US government has levelled serious allegations against the company.

However, Ranbaxy strongly denied the allegations raised by the US Department of Justice (DOJ). The company, in a statement, stated that its business in the US continues as normal. Ranbaxy also said the company's deal with Japanese drug maker Daiichi Sankyo is binding and final and remains on track.

Infosys plunged 6.95pc to Rs 1559.90, TCS was down 3.63pc at Rs 770.10 and Satyam Computer Services by 7.60 pc at Rs 410.65.

Mahindra&Mahindra (M&M) surged 4.50pc to Rs 554.90 on 25,411 shares. It was the top gainer from the Sensex pack.

Oil and Natural Gas Corporation (ONGC) galloped 3.60pc to Rs 879.85. The company is reportedly in talks with British firm Imperial Energy Corp to form an alliance, which could include it buying an equity interest in the UK-based firm. If ONGC manages to strike a deal with Imperial Energy, it will strengthen the ONGC's overseas presence.

Reliance Industries rebounded from day's low of Rs 1992.35. It was now up 2.11pc at Rs 2059 on 12.03 lakh shares. State Bank of India vaulted 3.51pc to Rs 1265.10 after touching a low of Rs 1205 in early trade. ICICI Bank recovered from day's low of 573.25 but ended with loss of 1.88pc to Rs 580.40.


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