Mkts close in deep red: Banks, IT, FMCG culprits

Mkts languish at lower levels; FMCG, IT, banks down

The markets have been hovering in particular range at lower levels since morning and not shown any signs of recovery from those levels. FMCG, technology, banking, realty and capital goods stocks are putting pressure. The Sensex is still holding above 17000 mark and the Nifty have not slipped below 5000 mark. Market breadth is negative too. Midcap and small cap stocks are also in red. On the global front, European markets were trading lower.

At 2:24 pm, the Sensex was down 249 points at 17,089 and the Nifty down 54 points at 5,080. About 1104 shares have advanced, 1775 shares declined, and 207 shares are unchanged.

Amongst Sensex 30, only 7 stocks were trading in the green. ITC, Satyam and Infosys were top gainers on the bourses while Tata Steel, Bharti Airtel, ACC, Tata Comm and Cairn India were gainers.

Tata Steel, Reliance Power, Reliance Industries, Bharti Airtel and Aishwarya Telecom were most active shares.

BSE IT, Bankex and FMCG indices slipped over 2.7% each; Capital Goods and Realty down 1% each. Power, Oil & Gas, Auto and Healthcare fell over 0.5%.

Mkts tumble: All BSE indices in red

The markets have tumbled and are not showing any signs of recovery from their lower levels. FMCG, banking and technology stocks have hammered the most, respective indices were down over 2.5%. However, telecom and cement stocks are witnessing buying interest. Midcap and small cap stocks also slipped. Market breadth is also hovering around 1:3. On the global front, Asian markets closed in red. European markets are trading lower.

At 12:34 pm, the Sensex was down 259 points at 17,079 and the Nifty down  57 points at 5,077. Midcap and Small Cap indices were down nearly 1%.

ITC, Satyam and Infosys were biggest losers while Reliance Comm, Bharti Airtel, ACC, Tata Comm, Idea and Cairn India were gainers.

All BSE Indices are in the red. Technology stocks are the major culprits, BSE IT Index down 3% as TCS, Satyam, Wipro, Infosys, HCL Tech etc under selling pressure.

Banking stocks like Kotak Mahindra, BOB, Axis Bank, Bank of India and ICICI Bank etc also lost ground. The BSE Bankex fell over 2.7%.

BSE FMCG Index was down 2.66% as United Breweries, ITC, Marico, Dabur and HUL fell nearly 1-5%.

Other indices like Capital Goods, Realty and Oil & Gas lost over 1%, and Metal, Power, Healthcare and Auto down over 0.5%.

Aishwarya Telecom, Reliance Power, Reliance Capital, Reliance Industries and Bharti Airtel were most active counters.

The Indian rupee depreciated nearly 1% today, trading at around 41.79 per dollar.

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