Sensex extends slide; capital goods, realty among laggards

Moneycontrol Bureau

Benchmark indices were under pressure in early trade Thursday, with realty and capital goods shares figuring among the key laggards.

The Sensex was down 185 points at 18616, and the Nifty was down 60 points at 5612.

Brokers said the biggest worry right now is the slowdown in foreign fund flows.

With market operators and high networth individuals having lost heavily in the midcap carnage over the last couple of months, there were no strong hands to absorb selling by foreign funds, they said.

Market breadth was negative with declining stocks outnumbering gainers nearly 4 to 1.

Adani Power shares were flat after gaining around 9 percent on Wednesday. Investors are worried that State Electricity Boards may contest the CERC order awarding a tariff compensation to the company.

After a steady performance in the last few sessions, midcaps once again are being targeted by bears. Core Projects, HDIL and Opto Circuits were down 2-3 percent.

Gainers included M&M Financial Services, GAIL, Indraprastha Gas and Crompton Greaves, up 1-2 percent.