Mkts end at two-month low on weak global cues
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.
12:
35
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
per
cent.
9:
38
AM
OneIndia News