Sensex down 300 pts; European markets slip 1-2%
Earning woes, weak global cues and rally in dollar dragged the Sensex below 18000 levels. Earning woes were kicked off by engineering heavyweight BHEL for this week. Concerns over Greece debt was weighing heavily on the global markets. Dollar index has now crossed important resistance level of 76.
Earning woes, weak global cues and rally in dollar dragged the Sensex below 18000 levels. Earning woes were kicked off by engineering heavyweight BHEL for this week. Concerns over Greece debt was weighing heavily on the global markets. Dollar index has now crossed important resistance level of 76.
At 14.36 hrs IST, the Sensex was down 323.91 points or 1.77% at 18002.18, and the Nifty was down 102.60 points or 1.87% at 5383.75. About 732 shares advanced, 1980 shares declined, and 930 shares remain unchanged.The worrisome factor for the market is turnover. Deep cuts have opened in largecaps and midcaps indicating cash based selling today. European markets shed in the range of 1-2% amid Greece debt concerns. Heavy selling was seen in realty, capital goods, power, banks, metal and auto stocks. Buying in ITC pushed the FMCG index into green. BSE Midcap and Smallcap indices were down 1.4% and 1.5% respectively.Nifty gainers: ITC, GAIL, BPCL and Siemens were up 0.5-2%. Nifty losers: BHEL, Sesa Goa, Reliance Infra, IDFC and Tata Motors were down 3.5-6.5%.Midcap gainers: Shree Global, KGN Industries, MVL, Kwality Dairy and Motherson Sumi were up 3-5%. Midcap losers: DB Realty, KS Oils, Aurobindo Pharma, PTC India and Prestige Estates were down 5-9%. Smallcap gainres: Magma Fincorp, Nirlon, Global Cap Mkts, Shristi Infra and Unisys Soft were up 5-9%. Smallcap losers: Smartlink Network, Falcon Tyres, Ashapura Mine, MIC Electronics and Kirloskar Ind were down 8-11%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
