BSE's 3 new indices stage volatile debut

The three new indices introduced by the Bombay Stock Exchange (BSE) debuted on Monday in a market which witnessed extreme volatility, closing in negative territory finally.

The BSE Metal index was the biggest loser, down 3.41 per cent to close at 4242.43 points while the BSE Oil & Gas index was the second biggest loser, down 1.88 per cent to close at 2537.96 points. The BSE Auto index fell 1.41 per cent to close at 2154.02.

Most Sensex heavyweights which also feature in the sectoral indices fell on Monday. Auto pivotal Maruti Udyog fell 2.87 per cent to Rs 361, Tata Motors was down 2.47 per cent to Rs 372.95, Bajaj Auto was down 0.32 per cent down to Rs 862.10 while Hero Honda Motors was up 0.68 per cent to Rs 449.90.

Metal heavyweights Tata Steel was the biggest loser in the Sensex basket, down 5.60 per cent to rs 245.15 and Hindalco fell 0.35 per cent to Rs 1128.55. Oil & Gas pivotals HPCL was the second biggest loser in the Sensex basket, down 4.87 per cent to Rs 298.70, Reliance Industries fell 2.62 per cent to Rs 451.20 while ONGC gained 0.86 per cent to Rs 695.15.

Brokers said that the introduction of the new indices would make it simpler for investors to track these sectors which have been in the limelight for the past some time.

Added a dealer from a local brokerage," Majority of investors look at sectors before investing and this will give them a clearer idea of how these major sectors are faring in the market."