Business

Sensex down 44 points; IT stocks fall

NEWS WORLD INDIA | 0
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| May 14 , 2015 , 11:32 IST
  Sensex 302 Points Down in Early Trade   NEW DELHI : BULLION . PTI GRAPHICS(PTI5_14_2015_000060B) A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), slipped by 44 points or 0.16 percent during the late-afternoon trade session on Thursday. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also traded in the red during the late-afternoon session. It was down 10.35 points or 0.13 percent at 8,225.10 points. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,290.17 points, was trading at 27,207.11 points (at 2.55 p.m.) in the late-afternoon trade session, down 43.99 points or 0.16 percent from the previous day's close at 27,251.10 points. The Sensex has touched a high of 27,293.99 points and a low of 26,948.62 points in the intra-day trade so far. In Thursday's trade, healthy buying was observed in automobile, oil and gas, bank, metal and fast moving consumer goods (FMCG) stocks. However, information technology (IT), consumer durables, healthcare, technology, entertainment and media (TECK) and capital goods sectors came under selling pressure. The S&P BSE automobile index augmented by 156.04 points, followed by oil and gas index which gained 80.84 points, banking index increased by 69.26 points, metal index was higher by 49.58 points and FMCG index was up by 26.77 points. NEW DELHI : INFLATION AND W P I . PTI GRAPHICS(PTI5_14_2015_000062B) The S&P BSE IT index receded by 86.14 points, consumer durables index lost 42.89 points, healthcare index declined by 28.60 points, TECK index fell by 24.98 points and capital goods index was down by 5.34 points. The markets were impacted by a number of factors, some of them being negative international cues, outflow of foreign funds due to a tax issue, weakening rupee, stalemate in parliament over crucial bills like land acquisition and goods and services tax (GST), and disappointing quarterly results. However, the official data on the annual rate of wholesale price inflation (WPI) which decelerated further to its lowest in six months helped in calming some nerves on the market. The WPI stood at (-)2.65 percent for April from (-)2.33 percent for the month before, this data should provide more room for the Reserve Bank of India (RBI) to ease its monetary policy stance.