Sensex down 524 points, bank stocks plummet

Mumbai, Jan 30 (IANS) A benchmark index of Indian equities markets plunged 524 points or 1.77 percent down in Friday’s late afternoon trade session, as banking, consumer durables and capital goods stocks declined.

The markets plunged after scaling a new high of 29,844.16 points in the morning trade session. It surpassed the previous high of 29,786.32 points touched Jan 28.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 29,801.60 points, was trading at 29,157.30 points (2.50 p.m.), down 524.47 points or 1.77 percent from the previous day’s close at 29,681.77 points.
The Sensex touched a high of 29,844.16 points and a low of 29,070.48 points in the trade so far.
Heavy selling pressure was observed in banking, consumer durables, automobile, capital goods, metal and healthcare stocks. While healthy buying took place in realty, information technology (IT) and power sectors.
The S&P BSE bankex was down 753.65 points, followed by consumer durables index which was lower by 219.30 points, automobile index declined by 198.46 point, capital goods index declined 167.26 points and metal index lost 98.59 points.
However, realty index was up 21.83 points, IT index was higher by 16.64 points and power index gained 5.42 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading down 147.25 points or 1.64 percent at 8,805.10 points. The Nifty had touched a new record high in the morning trade at 8,996.60 points.