Due to heavy selling in key bank, realty and oil stocks, the market is down sharply in the red this afternoon. Stocks from automobile and metal sectors are also mostly trading lower.
Capital goods stocks, which opened on a firm note this morning, are struggling to find support now. Power, FMCG and healthcare stocks are trading mixed. A few stocks from information technology and consumer durables sectors have posted notable gains.
The Sensex is now down 130 points or 0.66% at 19,440.44. The Nifty is down with a loss of 32 points or 0.5% at 5876.95.
ICICI Bank has lost over 4% and HDFC Bank
is down by a little over 2%, with investors pressing sales at the counter, following reports the finance ministry and the Reserve Bank of India are probing into money laundering allegations against some private sector banks. Axis Bank
and Yes Bank
are also trading weak, losing 1.8% and 1.2%, respectively.
Tata Motors, Bharti Airtel
and Reliance Industries
are down 2.2% - 2.4%, contributing significantly to the market's decline. Maruti Suzuki
is down nearly 2% and GAIL India
is down with a loss of 1.8%, while Jindal Steel
& Power is trading lower by 1.3%. Tata Steel
, Coal India
and Larsen & Toubro are also trading weak.
Realty stocks Indiabulls Real Estate
, Parsvnath Developers
, Anant Raj Industries
and Sobha Developers
are down 1% - 4%.