Sensex down 200 pts; metals, auto, IT, oil & gas slip
At 13:30 hours IST - equity benchmarks witnessed further selling in the markets led by sell-off in auto, metal, telecom, IT and realty stocks. All BSE sectoral indices were trading in red.
January 07, 2011 / 14:02 IST
At 13:30 hours IST - equity benchmarks witnessed further selling in the markets led by sell-off in auto, metal, telecom, IT and realty stocks. All BSE sectoral indices were trading in red.
The broader markets too were reeling under selling pressure. BSE Midcap and Smallcap indices were down 1.5% each. The 30-share BSE Sensex was down 281.35 points or 1.39% at 19903.39, and the Nifty was down 77.95 points or 1.29% at 5970.30. About 771 shares advanced, 2063 shares declined, and 391 shares remain unchanged. Heavyweights Reliance Industries, ONGC and Bharti Airtel were down 1.3%, 1.4% and 2.5%, respectively. IT majors Infosys, Wipro and HCL Tech lost 1-2.2%.Hindalco from metal space was the top loser on NSE Nifty; plunged 5.5%. Jindal Steel, SAIL, Tata Steel and Tata Steel fell 1.4-3%. ITC and HUL from FMCG segment were down 0.7-1.5%.Tata Motors and M&M from auto pack tumbled 3% each; Maruti and Bajaj Auto declined 1% each. DLF from realty space slipped one percent.There was a mixed trend in financial space, HDFC Bank, HDFC, Axis Bank and PNB lost 0.7-1.3% while ICICI Bank led the markets with gain of 2.2% followed by SBI with 0.6% jump.Sun Pharma and Reliance Communications were up 2-2.5%. Cairn, IDFC, Cipla, Power Grid, Reliance Infrastructure and BPCL were other gainers.In midcap space, UTV Software, Praj Industries, Gammon Infra, Bata India and Shree Global gained 2.8-3.5% while Shiv Vani Oil, Money Matters, GVK Power, Ruchi Soya and IBN18 Broadcast lost 4-5.5%.In smallcap space, Visa Steel surged 12%. Atco Corp, Zenith Infotech, Carol Info and Bheema Cements rallied 5% each. However, Simplex Project, Sahara One, Lloyds Metals, Falcon Tyres and INOX Leisure slipped 5-7%._PAGEBREAK_Sensex hits 20K; Hindalco, M&M, Tata Motors top losersAt 11:48 hours IST - the benchmark Sensex was under bears' control for fourth consecutive session today, dragged down especially by heavyweights like Reliance Industries, Bharti Airtel and Infosys, which were down 1.4-2.2%. The index has tested the 20,000 level and the Nifty fell below 6000-mark - psychologically important levels.Financial (barring ICICI Bank), realty, auto, FMCG, metal, capital goods and cement companies' shares were also under pressure. However, Sun Pharma, ICICI Bank, Power Grid, Reliance Communications, Cipla, IDFC and Reliance Infrastructure were only gainers.Higher inflation and likely hike in key rates in upcoming RBI's policy meet could be main reasons behind this consistent fall. Jagdish Malkani said the markets are mirroring the larger picture focussed on concerns like inflation, policy drifts and fast moving interest rates. He added that even though the markets saw a pullback in the last week of December, the volumes had been muted and it wasn
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