Sensex trades flat, bank stocks plunge

A benchmark index of Indian equities markets was trading flat in the 2.00 p.m. trade session Tuesday due to worries over the US debt ceiling crisis.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,722.90 points, was trading at 20,613.81 points around 2.00 p.m. trade session, up 6.27 points or 0.03 percent from the previous day's close at 20,607.54 points.

The Sensex touched a high of 20,759.58 points and a low of 20,446.73 points during the trade so far. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 6,103.15 points, down 9.55 points or 0.16 percent. Market sentiments were subdued due to the looming US debt ceiling crisis which reaches its deadline on Oct 17 amidst the US federal government shutdown. 

Good buying was seen in metal, information technology (IT) and technology, media and entertainment (TECk) sectors, while selling pressure was seen in the bank, consumer durables, capital goods, healthcare and public sector undertakings (PSUs) sector. The S&P BSE metal index gained 105.02 points, IT index was up 83.54 points and TECk index was higher by 49.84 points. 

However, sustained selling pressure was observed in bank index which lost 153.51 points, followed by consumer durables index which was down 55.56 points, capital goods index down 36.14 points, healthcare index was lower by 35.60 points and PSU index was 32.62 points down.