Commodity Online
MUMBAI: Stock markets tumbled on weak sentiments ahead of the union budget as the key benchmark index, Sensex opened slightly higher but slipped into the negative zone.

The Sensex fell by over 100 points or 0.75% to 14385 points in the opening trading session today, with heavy selling pressure gripping metals, oil & gas and consumer durables stocks.



The sectoral index, BSE metals tumbled by close to 2% at 10626 points with key metal stocks including Tata Steel, Hindalco and NALCO recording major fall. Tata Steel Ltd fell by over 2% at Rs.382.75, Hindalco Industries Ltd fell by close to 6% at Rs.81.35 and National Aluminium Company Ltd (NALCO) recorded a fall of over 2.5% at Rs.297.05. Steel major, JSW Steel Ltd was trading at Rs.592.90 down by 3.75% during the morning trading session on the Bombay Stock Exchange (BSE) today.

Oil & Gas stocks traded negative as index heavyweight Reliance Industries Ltd fell by close to 1% at Rs.2004.50 in the morning trading session. Essar Oil Ltd traded at Rs.148.80 down by close to 2.5% on BSE.

The weakness gripped the markets as the expectations over the upcoming budget gets into doldrums. Experts opined that the markets might remain weak till the union budget, which is to be tabled in the parliament on 6th of July.

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