Sensex drops 471.01 pts

Mumbai, May 12 (FN Agency) The BSE Sensex on Wednesday further lost by 471.01 pts to settle at 48,690.80 as selling pressure was seen in Metal, Materials, Bankex, Finance and Energy stocks. The Nifty too eased by 154.25 pts to 14,696.50. The sensex rose marginally by 10 pts to open at 49,171.28. During the day it nosedived 611 pts to 48,550.72, days low, before closing at 48,690.80, tumbling down by 471.01 pts from its previous close. The sensex registered days high and low at 49,171.28 and 48,550.72 pts respectively.

The Nifty recorded days high and low at 14,824.05 and 14,649.70 pts respectively. The sectoral indices like Metal, Materials, Bankex, Energy, Finance and Oil and Gas stocks dragged the market further. Seeing scrips, IndusInd Bank was a major loser, down 3.39 pc to Rs 916.90 followed by Hind Unilever, ICICI Bank, ONGC and Axis Bank. While, Titan, Maruti Suzuki, Powergrid, SBI and NTPC capped from further losses, broker informed. The Mid Cap declined by 0.92 pc and Small Cap by 0.62 pc. In 30 scrips, 7 advanced while 23 declined. There will be no trading in BSE and NSE on Thursday on account of ‘Id ul Fitr’, broker informed.