Mumbai, Dec 24: The benchmark indices witnessed selling pressure throughout the session amid volatility, which was expected. It was a settlement day; the December contract got expired on Wednesday, Dec 24. This was the third consecutive weak closing for markets. Sell-off was led by shares of major oil exploration, auto, realty, telecom, metal, technology, capital goods and power companies. Midcap and small cap stocks also followed the same trend. However, shares of oil marketing companies and banking ended in positive terrain.
The Nifty went closer to 2900 mark, but did not break that level. It closed with a loss of 51.80 points or 1.74 per cent at 2916.85, after touching an intraday low of 2900.45. The Sensex was hovering around 9600 level for major part of the day; it has hit a low of 9,502.53, before ending the day at 9,568.72, down 118.03 points or 1.22 per cent from previous close.
Benchmark indices still in negative terrain
The benchmark indices continue to trade in negative terrain. Shares of oil exploration, telecom, power, realty, metal, auto, and select technology companies are taking beating on the bourses. Midcap and smallcap indices are also following a similar trend. There is some volatility ahead of Dec series settlement.
The Sensex went down 101 points to 9,574 and the Nifty lost 39 points to 2,929, at 2.13 hours IST. BSE Midcap and Small cap indices fell nearly 1 per cent.
Benchmark indices trading lower
The benchmark indices are trading lower with some volatility ahead of settlement of the December series. Selling continues in oil exploration, realty, auto, metal, power, and select cement and capital goods stocks. Midcap and small cap indices have slipped further.
However, buying is seen in OMCs, major technology, select banking and telecom stocks.
The Sensex went down 53 points to 9,633 and the Nifty tumbled 19 points to 2,949, at 10:56 hours IST. BSE Midcap and Small cap indices lost close to 1 per cent.
Markets weak; Satyam slips by 14 pc
The markets have slipped in early trade and continue to fall for the third consecutive day, following weak global cues. Selling is seen in auto, realty, metal, oil, and select technology stocks.
At 9:56 am, the Sensex fell 74 points to 9,612 and the Nifty lost 15 points to 2,953. CNX Midcap 100 tumbled 0.55 to 3,649.
Among the frontliners, Tata Motors, SAIL, Tata Steel, Sterlite Industries, Maruti, M&M, DLF, ONGC and Reliance Industries are losers.
Satyam crashed another 14 per cent, after World Bank admitted to debarring Satyam for 8-years due to data theft.
OneIndia News (With inputs from Agencies)