The BSE Sensex falls further in the late trade of the day. Both BSE Sensex and NSE Nifty were down over 1% each. Heavy sell off seen in oil & gas, capital goods, power, IT, and auto stocks.
The Sensex was down 225.76 points or 1.39% at 15992.77, and the Nifty was down 75.35 points or 1.53% at 4848.90.
Top losers on the Sensex were Tata Motors at Rs 227.40 down 2.49%, ONGC at Rs 247.50 down 2.44%, Jindal Steel at Rs 430.80 down 2.41%, L&T at Rs 1,146 down 2.24% and HDFC Bank at Rs 494.85 down 2.19%.
Top losers on the BSE Midcap - Fresenius Kabi, Pantaloon Retail, Apollo Tyres, Dewan Housing and S Mobility were down 6-15%
Fresenius Kabi was down another 15% today following yesterday's 20% fall after the foreign parent's proposed offer for sale to increase its holding in the company. The move is in contrast to market expectations of a delisting offer from the parent.
FMCG major Hindustan Lever was trading at Rs 420.40 down 1.48% from its previous close of Rs 426.70.
Rupee: The rupee recovers after a weak opening above 56 to the dollar. Yields continue to fall for the second day as traders see buying opportunity in weak economic data.
The Indian market slips in late afternoon trade as European markets turn negative. The Nifty was dragged down by rate sensitives, commodities and technology stocks. Midcap infra & textile shares pulls down the broader markets. The breadth also turns negative.
The BSE Sensex witnessed a sudden fall in the afternoon trade and lost nearly 150 points after a gap down of 20 points. India Rupee depreciates further to Rs 55.85 per dollar. IT stocks were the biggest losers in trade today. Selling pressure was also seen in oil &gas, power, capital goods.
The benchmark index Nifty slipped below 4900 mark in the afternoon trade. Asian shares and the euro extended losses on Friday as China's factory activity data delivered its weakest reading this year, highlighting concerns the worsening euro zone debt crisis will further undermine global economic growth.
It was a flat start for the Indian market at the start of the new series. Asian indices were trading weak. Automobile and cement shares will be in focus as companies from these two sectors will start unveiling monthly sales volume data for May 2012 from today, 1 June 2012.
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Rate cut no reason to buy realty; like autos, banks: Emkay