Indian Stock Market Tumbles After Opening Above 16k

Bombay Stock ExchangeAfter opening positively at 16,341.55, the 30 share index has been fluctuating between the positive and negative in the morning sessions of the trade. Selected stocks from auto and real estate boosted, whereas IT and banking stock declined.

Asian stocks touched the highest in seven-weeks headed by commodity stocks. Growth in metal costs together with oil trading at an all-time peak strengthened the significance of commodity manufacturers.

The BSE Midcap arose 0.44%, whereas BSE Smallcap ascended 0.26%. Amongst the sectoral indices, BSE Auto climbed 0.65%, BSE Realty gained 1.30%, whereas BSE IT slumped 1.50% and BSE Bankex turned down 0.21%. There were 1,073 advancements as against 634 declinations.

The key gainers amongst the Sensex include ONGC that climbed 1.94% to Rs 919.00, which was being followed by M&M that gained 1.09% at Rs 749.00 and Dr Reddy’s that climbed up 1.05% at Rs 651.80. The other gainers’ were Tata Motors, Bajaj Auto, L&T, BHEL and Hindalco and Cipla.

The major losers’ at the BSE Sensex include Infosys that declined 2.12% to Rs 1,813.95, TCS rejected 1.41% at Rs 1,008.00 and Satyam went down 1.33% at Rs 423.80. Wipro, Maruti, HDFC, ICICI Bank and Ambuja Cement also slid.

New Delhi-based paper producer Magnum Ventures got listed at Rs 37 on the BSE with a premium of 23.33%, against its issue price of Rs 30 per share.