Serious damages have begun to unfold in the broader markets, serving as a grim reminder to bloody Tuesday and threatening to spill over to largecaps. At 10.36 AM, the Sensex was down 2.61 points at 19012.53, and the Nifty fell 6.30 points to 5755.05.
The first hour of trade looked promising as global cues were positive. US stocks had rebounded from their worst decline in last 3 months on Fed chairman's comments defending bond-buying stimulus. New home sales in US too hit a 4 1/2-year high.
But the momentum seen in the first trades ceased after an hour and the midcaps crashed half a percent. Core Education resumed its terrble journey downwards and fell 36 percent. other losers include Opto Circuit, ABG Shipyard, Educomp Sol, and Jain Irrigation; all these stocks were down between 7 and 10 percent.
At 09.17 AM, the Sensex was up 89.13 points at 19104.27, and the Nifty gained up 32.65 points at 5794.00. Top largecap gainers on the indices were Bhart, Sterlite, BHEL, Jindal Steel, HDFC, DLF, JP Associates and Sesa Goa.
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