Coal India, Sun Pharma register losses in debut trade on BSE

Coal India, Sun Pharma register losses in debut trade on BSE

Mumbai: State-run Coal India and drug-maker Sun Pharma, which entered the coveted league of 30 Sensex companies on Monday, tumbled on the bourses amid the overall bearish broader market trend following the US credit ratings downgrade.

Shares of Coal India opened the day on a weak note and were trading down by 1.58% at 386.15 on the BSE. The stock touched an intra-day low of 378.40 and a high of 387.85.

Similarly, Sun Pharma made a sluggish start and fell by 1.94% to trade at 488.05 on the BSE. The scrip hit an intra-day low of 484.55 and a high of 494.40.

The entry of the two new companies into the Sensex pack ends the over five-year journey of Anil Ambani group firms Reliance Communications (RComm) and Reliance Infra (R-Infra).

RComm and R-Infra ended their Sensex journey on Friday on a disappointing note, with their shares falling by over 7%.

Shares of RComm were today trading lower by 5.32% at 87.20, while R-Infra went down by 3.54% to 505.25.

The 30 stocks currently listed on the Sensex include Reliance Industries, four Tata Group companies - TCS, Tata Steel, Tata Power and Tata Motors - and two from Deepak Parekh-led HDFC Group, namely HDFC and HDFC Bank.

PSUs like ONGC, NTPC, SBI and Bhel; IT firms TCS, Infosys and Wipro; auto-makers Maruti, Hero Honda, M&M and Bajaj Auto; banking major ICICI Bank; and firms like Bharti Airtel, ITC, L&T, HUL, Jindal Steel, Hindalco, Sterlite Industries, Cipla, DLF and Jaiprakash Associates are the other companies listed on the Sensex.

The BSE Sensex tanked by over 500 points at the opening bell this morning and was later trading at 16,855.49, down by 450.38 points at 1055 hours.