Sensex plunges over 400 points after rail budget (Third Lead)

Mumbai, July 8 (IANS) A benchmark index of Indian equities markets plunged 406.40 points or 1.56 percent in the afternoon session Tuesday after the Bharatiya Janata Party-led government presented its maiden railway budget.

The index of Indian equities markets hit a new high of 26,190.44 points during the early session Tuesday.

All the stocks were trading in red.

Heavy selling pressure was seen in capital goods, metal, consumer durables, oil and gas, auto, realty and banking sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,166.92 points, was trading at 25,693.68 points (at 02.49 p.m.) in the afternoon session, down 406.40 points or 1.56 percent from the previous day's close at 26,100.08 points.

The Sensex touched a high of 26,190.44 points and a low of 25,680.42 points in the trade.

The S&P BSE capital goods index plunged by 628.67 points, metal index plummeted by 544.69 points, consumer durbales index slid by 329.76 points, oil and gas index dropped by 300.82 points, bankex went down by 281.89 points, realty index slipped by 123.98 points, power index went down by 119.61 points and auto index was down by 259.41 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading 118.15 points or 1.52 percent down at 7,669 points.