Stocks from infrastructure, rate sensitive, oil&gas and technology witnessed huge selling pressure post budget. Realty, auto and technology companies were buzzing in early part of the day on expectations of some sops but these industries also got disappointed.
The 30-share BSE Sensex has touched an intraday low of 9,279.10, before closing the day at 9,305.45, down 329.29 points or 3.42 per cent from previous close. The 50-share NSE Nifty was down 3.39 per cent or 99.85 points, to settle at 2,848.50, after hitting a low of 2839.10.
Selling seen in oil&gas, telecom; pressure on markets&13;
Continuous selling in infrastructure, rate sensitive, oil&gas, telecom, metal and technology stocks post budget, is putting huge pressure on the markets. Broader indices are following the same trend.
The 50-share NSE Nifty was trading at 2,847, down 100 points and the Sensex was at 9,302 points, down 332 points, at 2.45 hours IST. Among broader indices, BSE Midcap lost 2.5 per cent and Small cap index fell 1.9 per cent.
Market breadth is in favour of declines; about 992 shares have advanced while 1854 shares declined. Nearly 172 shares are unchanged.
Markets trading sharply lower&13;
The benchmark indices continue to trade sharply lower post interim budget announcement. Banking, metal, power, capital goods, oil&gas, telecom and pharma stocks are leading this fall.
Auto, realty and technology companies were trading higher in morning trade on hopes of expectations of some sops but nothing has come out from that budget.
The Sensex was trading at 9,338, down 295 points and the Nifty was at 2,857, down 90 points, at 1:34 hours IST. Among broader indices, BSE Midcap index fell 2 per cent and Small Cap index lost 1.4 per cent.
Markets seeing losses; telecom, power under pressure&13;
Markets are seeing further losses as banking, oil&gas, telecom, capital goods, power, FMCG and select metal stocks are under pressure. However, only few stocks like DLF, Unitech, Tata Motors, Grasim and M&M are heading positively.
The Nifty futures discount has widened to 15 points from 5 points post speech. Total Stock futures started shedding OI (Alert: it has added nearly 20 crore shares since expiry).
The Nifty broke 2900 mark, hit a low of 2891.80 and is hovering around that mark. It was trading at 2,901, down 46 points and the Sensex was at 9,476, down 158 points, at 11.16 hours IST. However, among broader indices, BSE Midcap is flat while Small cap index gained 0.7 per cent.
Indian markets open weak&13;
The Indian markets opened flat a bit on the back of sell-off in oil & gas, metal, banking, select technology and capital goods stocks. Realty witnessed good selling ahead of Interim Budget which will be presented by the External Affairs Minister Pranab Mukherjee on Monday, Feb 16 in the Lok Sabha.
At 9:58 am, the National Stock Exchange's Nifty went down 19 points, to 2,929 and the Bombay Stock Exchange's Sensex was trading at 9,583, down 51 points. However, CNX Midcap 100 gained 3.45 points at 3,506.
Good trading was seen in stocks like DLF, Tata Motors, Unitech and ABB. Infosys, SAIL, SBI, Reliance Power lost ground.&13;
OneIndia News (With inputs from Agencies)&13;