Metal and auto stocks lead Sensex bloodbath

A benchmark index of Indian equities fell 298 points yesterday as concern over Eurozone and a depreciating rupee weighed on sentiments. Metals, auto and consumer durable stocks came under intense selling on heavy funds outflow. The 30-scrip Sensitive Index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 16,132.68, closed at 16,030.09, down by 1.83 per cent or 298.16 points from its previous close of 16,328.25. The Sensex touched a high of 16,132.68 and a low of 15,974.60 in the intra-day. The midcap index of the BSE rose 46.35 points, while smallcap index closed 70.43 points down. The wider 50-scrip S&P CNX Nifty of the National Stock Exchange also closed 1.71 per cent down at 4,858.25. Markets globally felt the impact of the political uncertainty in Greece where efforts to form a new government collapsed Tuesday. During the day, the Indian rupee slumped to a record low of 54.42 to a dollar over rising concern over the fiscal deficit and poor economic outlook coupled with weak global cues. Auto, metal, capital goods and banking shares were the worst performers. The metal index fell 2.68 per cent or 274.87 points, auto index by 2.59 per cent or 252.61 points, consumer durables index slipped by 1.94 per cent or 128.67 points, capital goods index by 1.69 or 154.15 points, and banking index fell 1.65 per cent or 177.61 points.