Sensex closes 44 points down

A benchmark index for Indian equities markets closed 44 points down in lackluster trading Wednesday, largely due to heavy selling pressure in metal stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 17,125.96 points, moved into the positive terrain in the afternoon. However, the Sensex slipped back in the negative and ended the day at 17,199.40 points, down 0.26 percent or 44.44 points from its previous close at 17,243.84 points.

The Sensex touched a low of 17,075.89 points and high of 17,319.15 points in the intra-day.  The 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.32 percent lower at 5,226.85 points.

There was heavy selling pressure in metal, consumer durables and oil and gas stocks.  The BSE metal index fell 1.34 percent to 10,720.67 points. The consumer durables index fell 1.05 percent and the oil and gas index closed 0.86 percent down.

Jindal Steel fell 2.92 percent to close at Rs.486.55. The heavyweight Reliance Industries fell 1.36 percent to Rs.732.90.  Bharti Airtel, down 2.27 percent at Rs.322.85; Sterlite Inds, down 1.97 percent at Rs.102.25; BHEL, down 1.92 percent at Rs.250.90 and Tata Power, down 1.87 percent at Rs.102.45 were among the major Sensex losers.

Prominent Sensex gainers were: Sun Pharma, up 2.08 percent at Rs.578.95; NTPC, up 1.79 percent at Rs.165.20; Infosys, up 0.92 percent at Rs.2,802.35; SBI, up 0.43 percent at Rs.2,160.30 and HDFC Bank, up 0.33 percent at Rs.526.25.