Nifty sheds about 100 pts; all BSE sectoral indices in red

At 14:01 hours IST - the 30-share Sensex shed more than 350 points and the Nifty over 100 points in afternoon trade today, pulled down by oil & gas, technology, auto, metal, FMCG and realty companies' shares.

January 07, 2011 / 14:36 IST

At 14:01 hours IST, the 30-share Sensex shed more than 350 points and the Nifty over 100 points in afternoon trade today, pulled down by oil & gas, technology, auto, metal, FMCG and realty companies' shares.

Heavyweights like Bharti Airtel and NTPC were also on sellers' radar. Six shares declined as against every one share advanced on the NSE Nifty 50. Half a percent fall in European markets also weighed on the Indian benchmarks.

Higher inflation and likely hike in key rates in upcoming RBI's policy meet could be main reasons behind this consistent fall. Jagdish Malkani said the markets are mirroring the larger picture focussed on concerns like inflation, policy drifts and fast moving interest rates. He added that even though the markets saw a pullback in the last week of December, the volumes had been muted and it wasn

first published: Jan 7, 2011 02:05 pm

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