Markets close on a negative terrain
Mumbai, Feb 16: The markets have reacted quite sharply to the UPA's interim budget Monday, Feb 16. The benchmark indices had started in the negative terrain. But fell further after the statement from Pranab Mukherjee, the stand-in Prime Minister and Finance Minister of India.
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.
5.03
PM
Selling seen in oil&gas, telecom; pressure on markets
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.
3.36
PM
Markets trading sharply lower
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.
1.34
PM
Markets seeing losses; telecom, power under pressure
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.
11.47
AM
Indian markets open weak
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.
OneIndia News (With inputs from Agencies)