Sensex down 132 points as stocks decline on weak global cues

Last Updated: Tue, Feb 26, 2013 04:24 hrs

It's a weak start for stocks on the Indian bourses this morning, with investors tracking global cues and pressing sales at several counters from across various sectors.

Amid worries about the eurozone economy following the uncertainty about the election outcome in Italy, the U.S. and Asian markets tumbled, setting up a weak start for the Indian bourses.

The BSE benchmark Sensex is down 132 points or 0.685 at 19,199.69. The Nifty index of the National Stock Exchange is down with a loss of 40 points or 0.68% at 5814.75.

Automobile, oil, metal and bank stocks are mostly trading weak. Shares from capital goods, healthcare and power sectors are also trading lower. Select realty stocks edged up in opening trades, but retreated subsequently. A few stocks from information technology and FMCG sectors are trading higher.

Maruti Suzuki, Tata Motors and Mahindra & Mahindra are trading lower by 1% - 1.6%. Hero Motocorp and Bajaj Auto are down by around 0.6%.

ICICI Bank, HDFC, Larsen & Toubro, Hindalco and ONGC are down 1% - 1.2%. Wipro, Coal India, Reliance Industries, Tata Steel, Jindal Steel & Power, GAIL India, Sun Pharmaceutical Industries, Tata Power and State Bank of India are also trading weak.

IDFC, Ambuja Cements, Lupin, Jaiprakash Associates, BPCL, Sesa Goa, Power Grid Corporation, ACC, Cairn India, Ranbaxy Laboratories, Axis Bank and Ultratech Cement are all trading weak.

Bharti Airtel is up 3.7% at Rs 319. BHEL is up nearly a percent following an announcement from the Ministry of Railways that a Memorandum of Understanding was signed on Monday, between Indian Railways and Bhel for setting up of Greenfield MEMU coaches manufacturing facility by Bhel at Bhilwara in Rajasthan.

DLF, Hindustan Unilever, Grasim Industries and Infosys are up in positive territory with modest gains.

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