Nifty tests 4950; Bharti, ICICI Bk, Wipro, SBI, TCS drag

At 13.07 hrs IST, the Nifty has tested the 4950 on the downside. The markets began to crack yesterday late in the afternoon after consolidating for four sessions. There was a volatility in the markets. The broader indices also turned into red.

The breadth of the market worsened with 1,220 stocks advancing against 1,614 stocks declining. Heavy selling was seen in realty, metal and banking stocks. All BSE sectoral indices were trading in red. The BSE IPO index was down 1%.

In the largecap space, telecom heavyweight Bharti Airtel was down 3%. Reliance Infrastructure, ICICI Bank, Tata Steel and Wipro were down 2-3%. TCS and SBI were other losers. However, stocks like ACC, HDFC, HDFC Bank, ITC and NTPC were up 0.2-2%.

The Sensex was down 134.33 points or 0.80% at 16651.32, and the Nifty down 50.20 points or 1.01% at 4938.80.

Top gainers on the BSE Midcap - Havells India, Peninsula Land, Asian Star, Monnet Ispat and AIA Engineering were up 3-7%.

Top losers on the BSE Midcap - KGN Industries, HOEC, Welspun Gujarat, Patni Computer and United Phosphorous were down 4-9%

Top gainers on the BSE Smallcap - Bliss GVS, Jindal Drilling, Hinduja Venture, Pratibha Ind and Prime Securities were up 7-11%.

Top losers on the BSE Smallcap - Sahara One, Vikas WSP, Resurgere Mines, Sakthi Sugars and Kanani Industries were down 5-5%.

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