Sell off in telecom, IT, FMGC drags Nifty down

Posted By: Staff
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Mumbai, Oct 7: BSE Sensex ended the day down by 151.88 points or 0.9 per cent, at 16,806.66, while NSE Nifty shut shop at 4985.75, down 0.83 per cent or 41.65 points.

Sell off in technology, banking, realty, telecom and FMCG stocks along with heavyweight Reliance Industries took Nifty down.

Even though the Asian markets ended higher, the Indian equities slipped heavily in the last hour of the trade. .

IT companies like Wipro, TCS, Infosys and HCL Tech were down 2.5 to 4.3 per cent while Tech Mahindra dipped 1.57 per cent.

Selling continued in the telecom for the tird day. . Reliance Communication was down 2.31 per cent and Idea Cellular down 1.24 per cent. Bharti Airtel fell 0.29 per cent and Tata Teleservices down 0.15 per cent.
4: 35 PM

Sensex volatile; broader indices outperform

With the traders trading cautiously at current levels, Sensex was extremely volatile. At 1: 57 am, Sensex was down 57 points, to 16,901 and the Nifty fell 19 points, to 5,007.

The lack of european cues also led to the choppy trade.

The markets gained support from the buying in capital goods, metal, realty and select power stocks along with Tata Motors and HDFC Bank.

However, the continual selling in technology, telecom, FMCG and select banking stocks weighed on the markets.

The broader indices continued to outperform the benchmarks. They went up 1.4 to 2 per cent.
2: 46 PM

Metal, realty, power help Sensex hold up 17k mark

Buying interest in metal, capital goods, oil & gas, realty, power and banking stocks was helping the Sensex hold the 17000 mark.

At 12: 02 pm, Sensex was up 114 points at 17,073 and the Nifty rose 35 points to 5,063.

The broader indices continued to outperform the benchmarks rising 1.8 to 2 per cent.

However, selling in technology and telecom stocks along with Maruti and HUL capped the gains to some extent.
12: 27 PM

Mkts open +ve; ITC, Idea, RIL, L&T gain

Led by strong global cues, the Sensex opened the day on a positive note. At 9:56 am, the Sensex was up 119 points at 17,079 and the Nifty was up 34 points at 5,061. The CNX Midcap surged 69 points, to 6,683.

The early gainers among the frontliners are SAIL, Sterlite, Hindalco, Tata Steel, BHEL, L&T, Siemens, Cairn India, ITC, Bharti Airtel, Idea, Suzlon Energy, Unitech and Reliance Industries.

However, TCS and Wipro were down on profit taking and Infosys plunged 2 per cent ahead of its Q2 numbers. BPCL was another loser.

Among the midcaps, Omnitech shot up 6 per cent, IRB Infrastructure went up 4 per cent and Pyramid Saimira, Gitanjali Gems, UCO Bank and Raymond gained 4 to 5 per cent. Ultratech Cement went up 2 per cent.
10: 32 AM

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