After staging a recovery of sorts that very nearly lifted the indices into positive territory, the market has plunged a bit deeper into the red this afternoon following a fresh round of selling in several front line stocks.
The Sensex, which declined to 19,213.47, is now down with a loss of 78.57 points or 0.4% at 19,247.30. The Nifty is down 30 points or 0.5% at 5820.05, off a low of 5808.30 it touched a little while ago.
Bank stocks are the major losers. Consumer durables, PSU and FMCG stocks are also drifting lower. Automobile stocks have come off their highs, with a few even declining into negative territory.
Capital goods, power and pharma stocks too have given up most of their gains. Oil stocks are mostly flat, while a few stocks from information technology and realty sectors are up in positive territory with notable gains. Ranbaxy Laboratories
has lost over 3% at Rs 354. The stock plunged to a low of Rs 342.75 earlier in the day, on fairly heavy selling at the counter, amid reports the Supreme Court will hear a petition seeking probe against the company for allegedly manufacturing and selling adulterated medicines, on Tuesday next week. Bank of Baroda
, Axis Bank
Bank, Punjab National Bank
, ICICI Bank
, HDFC Bank
, Ultratech Cement, Ambuja Cement
and GAIL India
are down 1% - 2.4%.
IT bellwether Infosys
is trading higher by about 1% at Rs 2448. Tata Power
is up nearly a percent. Bajaj Auto, Power Grid Corporation
, Kotak Bank, DLF
are up with modest gains.
Junior Nifty stocks Reliance Communications Adani Enterprises
, Mphasis, Adani Ports
and Zee Entertainment
are up 2.3% - 3.6%. Tata Global Beverages, Glenmark Pharmaceuticals
, Glaxosmithkline Consumer Healthcare, Idea Cellular and Bajaj Finserv
are also up with strong gains.
Crompton Greaves, Yes Bank
Bank, Titan Industreis, Bharat Forge
, Dabur India
, Godrej Properties
, Container Corporation
and Divi's Laboratories
are all trading lower by 1% - 2%.