Sensex closes 137 points down; automobile stocks down

Mumbai, July 9 : Just a day before the budget, a benchmark index of Indian equities markets Wednesday closed the trade 137.30 points or 0.54 percent down on heavy selling in automobile, capital goods, and information technology (IT) scrips. The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,615.28 points, closed trade at 25,444.81 points (provisional), down 137.30 points or 0.54 percent from the previous day’s close at 25,582.11 points.

The Sensex touched a high of 25,683.97 points and a low of 25,364.77 points in the intra-day trade. The markets assumed bearish sentiment even as India’s growth was projected at 5.4-5.9 percent by the Economic Survey for 2013-14 tabled in parliament by Finance Minister Arun Jaitley. The annual report card on the state of the country’s economy said price rise remained a cause for worry, while calling for a complete rehaul of the subsidy regime and increasing tax revenues.

On Wednesday, the S&P BSE automobile index tanked by 385.13 points, capital goods index dropped by 233.48 points, healthcare index dipped by 169.37 points, IT index went down by 124.26 points and bankex lost 86.16 points. However, oil and gas index was up 90.43 points followed by fast moving consumer durables (FMCG) index which gained 55.09 points

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed 38.20 points or 0.50 percent down at 7,585 points, its lowest mark since June 30.