Indices close lower on 'Hung' assembly fears
Mumbai, May 14: For the second consecutive day, the benchmark indices closed lower and remained choppy throughout the session ahead of India's biggest event, the election results on Saturday, May 16.
The 30-share BSE Sensex closed 146.74 points or 1.22 pc lower at 11,872.91 and the 50-share NSE Nifty declined 1.15 pc or 41.80 points, to settle at 3,593.45. The broader indices ended marginally higher; the BSE Midcap Index was up 15.48 points, to 3,756.93 and the Smallcap Index rose 23.94 points, to 4,244.15.
The
sell-off
in
shares
of
oil
&
gas
exploration,
technology,
capital
goods
and
select
financials
companies
kept
the
markets
under
pressure.
05:00
PM
Heavy selling pressure pulls Sensex, Nifty down
The Sensex was down 166.11 points or 1.38 pc at 11853.54, and the Nifty was down 49.20 points or 1.35 per cent at 3586.05. Indian indices are trading weak.
Heavy selling pressure is seen in banking, oil & gas, IT capital goods and FMCG stocks. Reliance, Infosys, ICICI Bank, Bharti Airtel and L&T were major draggers to the Sensex. Out of the BSE Sensex 30 stocks, only four stocks were trading lower.
About
1150
shares
advanced,
1533
shares
declined,
and
435
shares
were
unchanged.
02:30
PM
Markets witnessing selling pressure
At 12:15 hours IST, the markets were witnessing selling pressure, despite showing smart recovery from the lows of the day. The Sensex was trading at 11,840, down 179 points and the Nifty was down 44 points, to 3,590, at 12:15 hours IST. The broader indices were quiet in trade.
Markets
witnessed
High
volatility.
Shares
of
oil
&
gas
exploration,
technology,
select
financials
and
auto
along
with
L&T
and
Bharti
were
putting
pressure
while
select
pharma,
select
power,
metal
and
cement
stocks
were
helping
the
markets.
12:00
PM
Markets open red post Exit polls
Taking cues from global markets and post exit polls results, Indian indices open negative on Thursday, May 14. At 9:56 am, the Sensex was trading at 11,750, down 269 points and the Nifty was down 70 points, to 3,564. The CNX Midcap fell 72 points, to 3,973. About 518 shares declined while 55 shares advanced.
Metal, oil & gas exploration, banking, infrastructure, realty, select technology and telecom stocks witnessed selling in large. Though NTPC and Idea gained, Suzlon, Unitech, Tata Motors, Axis Bank, DLF, Tata Steel, ICICI Bank, Hindalco, Sterlite, Reliance Communication, Reliance Capital, L&T, HDFC, Bharti and TCS lost ground.
All
exit
polls
predicted
hung
parliament
with
no
majority
for
UPA
or
NDA.
Most
exit
polls
gave
a
slender
lead
to
UPA
over
NDA.
10:40
AM
OneIndia News