Sensex slumps 117.57 points, Wipro tanks

[1]

A benchmark index for Indian equities markets was trading 117.57 points lower in the afternoon session on Wednesday, affected by a decline in the shares of IT and power firms whose share prices came down by over 7 per cent.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 17,225.54 points, was ruling at 17,093.70 points in the late afternoon session, 0.66 per cent or 113.59 points lower from its previous close at 17,207.29 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.83 per cent lower at 5,179.05 points.

Scrips of India's third largest IT bellwether Wipro which reported 7.7 per cent increase in consolidated net profit were trading 7.08 per cent lower at Rs.411.10.

Shares of Gail India were 2.99 per cent lower to trade at Rs.337.85 while Bharat Heavy Electricals Ltd (BHEL) was ruling 2.06 per cent lower at Rs.232.40.

State Bank of India (SBI), 2.02 per cent lower at Rs.2,144.25 and ICICI Bank 1.72 per cent lower at Rs.832.90 were among the other top Sensex losers.

The country's leading telecom firm Bharti Airtel was, however, trading 1.84 per cent up at Rs.312 while Maruti Suzuki was ruling 0.94 per cent up at Rs.1,378.30.

Other major gainers were: Hero MotoCorp up 0.90 percent at Rs.2,215; Sterlite Industries 0.85 per cent up at Rs.106.70 and HDFC Bank 0.20 per cent up at Rs.542.80.