Mumbai, May 6: The PIIGS (Portugal, Italy, Ireland, Greece, and Spain) debt crisis continues to haunt the US and Asian markets.
Weak global cues forced the benchmarks at two-month low. While Sensex fell below the 1700 mark, Nifty closed blow the psychological 5100 levels.
The indices were at this low levels in the first week of Mar 2010.
BSE Sensex tanked 100 points to shut shop at 16987 and NSE Nifty
closed at 5090, down 34 points.
4: 31 PM
Sensex tanks 100 pts; RIL, Infosys down
With European markets like DAX, CAC and FTSE turning green, benchmarks recovered some of its losses.
At 1:58 pm, BSE Sensex was down 101.38 points or 0.59 per cent at 16986.58, and NSE Nifty down 31.35 points or 0.61 per cent at 5093.55.
Metals, realty, auto and IT stocks were witnessing buying at lower sides.
Index heavyweight Reliance was down 0.88 per cent. Hindustan
Lever was up 2.6 per cent. IT giant Infosys was trading down 0.8
per cent. Refinery major HPCL was up 1.08 per cent.
2: 37 PM
Nifty rangebound; selling in metal, auto, power
Nifty is rangebound between 5080-5100 as selling persisted in the markets. Metal, auto, capital goods, realty, power and banking stocks witnessed selling. Sensex also tanked over 150 points.
At 12:11 pm, BSE Sensex was trading at 16905.35, down 182.61 points or 1.07 per cent and NSE Nifty was trading at 5059.15, down 65.75 points or 1.28 per cent.
While Cipla, Suzlon Energy, Ranbaxy Labs, HUL and Sun Pharma were the largecap gainers, Tata Motors, Jindal Steel, Ambuja Cements, Cairn India and HDFC lost.
The BSE Midcap index was also down 0.5 per cent. However, BSE Smallcap index outperformed other indices and was trading in the green.
STC India, Dredging Corp, Thomas Cook, HT Media and Brigade Enterprises were midcap gainers, Gee Kay Finance, Jain Irrigation, Hing Nat Glass, Sintex India and Aban Offshore lost.
In the smallcap arena, GRUH Finance, Uflex, Hyderabad
Industries, Zylog Systems and Fem Care Pharma were the gainers
while Spice Mobiles, DCM Shriram Con, Solvay Pharma, DCM Shriram
Ind and Modern India slipped.
Mkts open red again on crisis in PIIGS countries
The markets began the day lower yet again reacting to the European debt crisis, which has affected the global markets.
At 9:02 am, NSE Nifty was trading at 5112, down 12 points and BSE Sensex was at 17040, down 47 points.
Cairn India, JSPL, Sterlite Industries, L&T, Hero Honda and Maruti were the early losers among the frontliners.
On the positive side, buying interest was seen in ICICI Bank, PNB, ONGC and HUL. Riding on the news of financial ministry's approval of cash subsidy to oil marketing companies, BPCL, HPCL and IOC rose 1.5 to 2 per cent.
Crisis in PIIGS countries in Eurozone have been putting pressure
on global markets throughout the week. US markets fell 0.6 to 0.9
per cent on Wednesday, May 5 and Asian markets declined 0.5 to 3
9: 38 AM