Bank, tech stocks pull Sensex down 91 pts

BSE Bankex down 2.66%, BSE-Teck Index down 0.99% yesterday.

Banking and technology stock prices were mauled yesterday, pulling the Bombay Stock Exchange Sensex down 1.56 per cent (91.32 points) to 5,759.29.

Of the 30 scrips in the Sensex basket, 23 ended the day with losses. The Hero Honda scrip was the largest loser, ending 6.63 per cent lower at Rs 494.60.

Index heavyweight Infosys Technologies fell 1.66 per cent to Rs 4,888 and Satyam Computer was down 1.34 per cent to Rs 294.

However, Wipro gained nearly 2 per cent at Rs 1,455. The State Bank of India scrip was down 2.85 per cent at Rs 616.25 and ICICI Bank was down 4.39 per cent at Rs 289.65.

The FMCG pivotal Hindustan Lever scrip was down 3.27 per cent to Rs 149.35, dragging the FMCG index down by 1.65 per cent.

The Reliance Industries stock was down 1.90 per cent to Rs 572.35.

Hanu Bhatia, vice- President, Parag Parikh Securities said: "The Sensex appears to be range bound, with the lower levels at 5550 and the upper level at 6,081. It needs to breach either one to show decisive movement."

Among auto stocks, the Tata Motors scrip was down 3.24 per cent to Rs 503.15 and Bajaj Auto was down 1.24 per cent at Rs 897.65.

The ONGC scrip was up a marginal 0.36 percent to Rs 840.60 but Bhel was down 3.20 per cent at Rs 608.10, MTNL was down 2.14 per cent at Rs 141.95 and HPCL was down 1.75 per cent at Rs 502.50. As a result, the BSE PSU index lost 0.87 per cent.

The Gujarat Ambuja Cements scrip was down 3.14 per cent to Rs 311.50, ACC was down 2.76 per cent at Rs 264.65, Grasim was down 2.64 per cent at Rs 1,143.70 and L&T was down 1.34 per cent at Rs 583.

Ranbaxy Labs was down 1.27 per cent at Rs 978 and Cipla was down 0.69 per cent to Rs 1,228.25.