Mumbai, Feb 12: The benchmark indices continued the sell-off for the second consecutive day and ended on a weak note on the back of negative global cues. Frontline indices had started the day with negative bias following bad Asian cues. As the day progressed, they began the recovery process and were about to return back into positive territory but weak European cues pushed the markets lower again.
The Sensex ended at 9,449 down 168 points and the Nifty at 2,893 down 32 points.
Markets continue to trade lower
The benchmark indices continue to trade lower amid choppiness. Selling is seen in technology, oil&gas exploration stocks as well as Bharti Airtel, BHEL, ICICI Bank, Maruti and Ranbaxy Labs.
However, power, cement stocks and stocks like SBI, Reliance Communication, M&M, HDFC and Tata Motors are supporting the benchmark indices.
The Sensex was trading at 9,544, down 74 points and the Nifty was at 2,913, down 12 points, at 12.26 hours IST. However, BSE Midcap and Small Cap indices gained over 1-1.5 per cent.
Markets weak; selling seen in technology, banking
Markets continue to be weak due to selling pressure and certain weak stocks. The benchmark indices are witnessing some selling pressure, as shares of oil&gas exploration, capital goods, technology, banking, pharma companies and stocks like Bharti, SAIL and Sterlite Industries are weak. However, support is coming from power stocks as well as from Idea, Reliance Communication, DLF, Siemens, ABB and Tata Motors.
The Sensex was trading at 9,526, down 92 points and the Nifty was at 2,909, down 16 points, at 10.33 hours IST. However, broader indices like BSE Midcap and Small cap indices went up 0.5-0.7 per cent.
Market breadth is in favour of advances due to positive broader indices; about 1516 shares have advanced while 1299 shares declined. Nearly 200 shares are unchanged.
Markets opens low; selling seen in oil&gas
The benchmark indices have opened marginally lower. The Nifty is still holding 2900 mark. Selling is seen in oil&gas exploration, capital goods, banking and select technology and telecom stocks.
At 9.56 am, the Sensex was trading at 9,548, down 70 points and the Nifty was at 2,909, down 16 points. However, CNX Midcap gained 5.75 points at 3445.
Among frontliners, ICICI Bank, ACC, Infosys, SAIL, L&T, Cairn, ONGC, Reliance Industries and HDFC are draggers. However, Siemens, DLF, Reliance Communication, Unitech, Hero Honda, Idea and Ranbaxy have gained.
OneIndia News (With inputs from Agencies)