Sensex closes 128 points down

A benchmark index of Indian equities markets on Wednesday closed 128 points down in line with weak global bourses. Metal, capital goods and banking stocks were the worst performers. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,359.96 points, closed at 17,313.34 points, 0.73 per cent or 127.53 points down from its previous day’s close at 17,440.87 points. The Sensex touched a high of 17,411.67 points and a low of 17,250.80 points in intra-day trade. The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.92 points down at 5,225.70 points. On the sectoral front, the BSE metal index was down 256.28 points, capital goods index was down 242.96 points and the banking index was down 208.85 points. The main Sensex losers were BHEL, down 4.98 per cent at Rs.208; Jindal Steel, down 4.78 per cent at Rs.336; ICICI Bank, down 3.56 per cent at Rs.879.55; Tata Steel, down 3.42 per cent at Rs.350.70 and Sterlite Inds, down 3.17 per cent at Rs.93.20. Axis Bank hit a three-month low and closed 3.56 per cent down after Morgan Stanley downgraded the bank to underweight from equal weight. From gulftoday