Sensex Declines 374.44 Pts; RCom, ONGC Surge

Sensex Declines 374.44 Pts; RCom, ONGC SurgeThe 30-share index Sensex today aped the pessimistic reactions ruling other Asian bourses and was trading 2.19% down during the morning trade.

Asian stock markets, predictably belled the day negatively, after the unsatisfying job data from the US released on Friday. European bourses are also expected to be weighed down by these fears.

The Sensex of the Bombay Stock Exchange (BSE), which opened at 17,069.77 today, lost 374.44 points to trade at 16,743.25.

In the meantime, the broader 50-share S&P CNX Nifty was ruling 2.24% down at 5,020.3.

The BSE midcap index was trading 1.68% down and the BSE smallcap index lost 1.74%.

Out of the 30 scrips on the Sensex, RCom and ONGC were the top gainers at this time.

Shares of RCom belled the day on a high note today, a day after its board approved a 26% equity sale to a strategic investor.

On Friday, the Sensex gained 95.36 points to end the week at 17,117.69 owing to strong buying activity in key stocks by local operators and strong signals from worldwide markets.

The broad-based Nifty also surged 25 points to mark its closure positively at 5,135.50.

IT, automobile and realty scrips made recovery from their initial losses. Banking and FMCG stocks also remained up.

The overall breadth of the stock market was mixed as it saw 1534 progressions as compared to 1550 declinations on Friday (June 04).