Nifty breaks 5K on weak European cues; DLF, L&T dip 4%

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At 14:17 hours IST, the Sensex extended the losses on the back of weak European cues. All the three indices of Europe fell 1.5% each on fall in banking and commodity stocks. The sell-off in realty, capital goods, auto, power, metal, cement and banking stocks along with heavyweight Reliance Industries forced the Nifty to test 5,000 mark.

The Sensex was down 200 points at 16,808 and the Nifty declined 68 points to 4,995. The market breadth weakened further; about 392 shares advanced while 867 shares declined on the NSE. The broader indices slipped over 1% each.

In largecaps, DLF and L&T plunged over 4%. Unitech and Jaiprakash Associates fell 5-7%.

ICICI Bank, SBI, SAIL, Maruti Suzuki, Tata Motors, Reliance Infrastructure, Tata Steel and Hindalco declined 2-3.4%.

Reliance Industries, NTPC, Wipro, BHEL and Sterlite Industries lost 1-1.5%.

However, buying continued in Bharti Airtel, ITC, HUL, Cairn, IDFC, HCL Tech, HDFC Bank and M&M.  

In the midcap space, AstraZeneca was up over 9%. Pidilite Industries, Marico, Torrent Power and Kirloskar Brothers gained 2.5-3.5%. However, Madras Cements, Prism Cement, Jai Corp, STC India and Shriram Transport Finance fell 5-7%.

In the smallcap space, Cambridge Solutions surged 17.40%. C and C Construction went up 10.46%. HBL Power, Jai Balaji Industries and NRB Bearings gained 5-7%. However, Elgi Equipments, Henkel India, Escorts, Hindustan Organic Chemical and Sanghvi Movers slipped 7% each.

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