Mumbai, Feb 17: Markets saw heavy selling for the second consecutive day and ended sharply lower. The BSE Sensex was below 9000 mark in the last hour of trading due to the heavy fall of rate sensitive, infrastructure, metal, technology and oil & gas stocks.
BSE's 30 share index, Sensex has hit an intraday low of 8,994.34, but some short covering in late trade helped it to get back above 9000 mark and closed at 9,035, down 270.45 points or 2.91 per cent. The 50-share NSE Nifty shut shop at 2770.50, down 78 points or 2.74 per cent, after hitting a low of 2757.30.
Sensex at 9k; realty, power tumbling
Sensex which is trading under extreme pressure is moving towards 9000 mark. Realty, metal, banking, technology and power stocks are tumbling. The 50-share NSE Nifty was trading at 2,768, down 80 points and the 30-share Sensex was at 9,034, down 271 points, at 1:35 hours IST. Broader indices like BSE Midcap and Small cap indices fell 2-2.5 per cent.
Reliance Industries, ONGC, NTPC, ICICI Bank, Infosys, SBI, TCS, DLF, SAIL, HDFC Bank and Reliance Communication tanked 2-7 per cent. While the realty tumbled 5.5 per cent. IT, TECK, Oil & Gas, Power and Auto indices slipped 2-3.7 per cent.
Indices trading lower, Nifty below 2,800
Mumbai, Feb 17: Sell-off in rate sensitive, infrastructure, metal, telecom and oil & gas stocks has made benchmark indices continue to trade lower. The negative Asian markets are also putting pressure on our markets.
The Sensex was trading at 9,108, down 196 points and the Nifty was at 2,789, down 59 points, at 10:44 hours IST. Broader indices are also following same trend; BSE Midcap and Small cap indices fell 1.4-1.8 per cent.
Among frontliners, Reliance Industries, ONGC, SBI, Bharti Airtel, DLF, ICICI Bank, NTPC, BHEL, HDFC, SAIL, TCS and Infosys are leading contributors to this fall.
Markets continue to trade on a weak note
Mumbai, Feb 17: Markets continue to lose ground for the second day in a row following the disappointing interim budget presented by the UPA government on Monday, Feb 16.
At 10 am, the Nifty went down 50 points, to 2,798 and the Sensex was trading at 9,147, down 159 points. CNX Midcap fell 1 per cent, to 3,364.
OneIndia News (With inputs from Agencies)