Sensex trades in red; oil and gas stocks down

A benchmark index of Indian equities markets was trading in the red in the late afternoon trade session Thursday -- over a 125 points down as oil and gas and bank stocks fell.

The markets were cautious amid weak global cues as a result of the worsening security situation in Iraq with crude oil prices scaling up to a nine-month high.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,327.09 points, was trading at 25,120.74 points around 1.30 p.m. trade session, down 125.51 points or 0.50 percent from the previous day's close at 25,246.25 points.

The Sensex touched a high of 25,425.85 points and a low of 25,069.66 points during the trade so far.

The S&P BSE oil and gas index was down 411.65 points, bank index moved down by 168.81 points and metal index was lower by 153.12 points.

However, information technology (IT) index gained 105.30 points, technology, entertainment and media (TECK) index was up 43.93 points and automobile index was higher by 34.93 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the red. It was down 30.65 points or 0.41 percent at 7,527.55 points.