Selling pressure force markets to close weak

Written by: Super Admin
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Mumbai, Mar 2: Markets have witnessed huge selling pressure following weak global markets. Relentless selling was seen in banking, metal, capital goods, power and telecom stocks.

The 30-share BSE Sensex has hit an intraday low of 8,563.52, before closing the day at 8,607.08, down 3.2 per cent or 284.53 points. The 50-share NSE Nifty shed 89.05 points or down 3.22 per cent, to 2674.60, after touching a low of 2659.55.

Market breadth has widened its gap and was in favour of declined throughout the session. About 969 shares advanced while 1920 shares declined. Nearly 157 shares remained unchanged.
4:15 PM

European markets push index down

Markets are still on losses. Sell-off continues in banking, metal, telecom, technology, oil & gas, power and capital goods stocks. Midcap and small cap stocks have also joined the same league. Weakness in European markets is adding some more fuel to the negative sentiments, due to which the Nifty is constantly trading below 2700 mark.

The Sensex was trading at 8,636, down 254 points and the Nifty was at 2,682, down 80 points, at 2 hours IST. The Nifty futures are trading with 30 points discount. Among broader indices, BSE Midcap and Small cap indices tumbled 1.2-1.5 per cent.

Among frontliners, Reliance Infrastructure, Tata Steel, ICICI Bank, Reliance Communication, HDFC Bank, Zee Entertainment and Reliance Capital are top losers, which declined 5-7.5 per cent.
2:48 PM

Markets trading lower; Reliance, ONGC fall

The markets are trading sharply lower. Sell-off continues in banking, metal, telecom, technology, oil & gas, FMCG and power stocks. Sensex was trading at 8,692, down 199 points and the Nifty was at 2,699, down 64 points, at 10:52 hours IST. Among broader indices, BSE Midcap and Small cap indices were down 0.6-0.9 per cent.

Reliance Industries, ONGC, NTPC, Bharti, TCS, HDFC Bank, SBI, HUL, Infosys, ICICI Bank, HDFC and SAIL are leading contributors to this fall. However, only Maruti (because of February sales numbers), Ranbaxy, M&M and BPCL are gainers.

Reliance Petroleum fell 0.5 per cent, to Rs 76 and Reliance Industries slipped 2.2 per cent, to Rs 1,238.10, after the merger news.
11:55 AM

Markets in red; RIL, RPL shares fall

Markets have opened low and all sectoral indices are in red. RPL-RIL merger news is non-event for the markets. At 9.55 am, the Sensex was down 246 points, to 8,646 and the Nifty was down 80 points, to 2,683.

Reliance Industries fell 2.15 per cent, to Rs 1,238 and RPL slipped 0.65 per cent, to Rs 75.85.

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