Sensex down over 300 points as selling intensifies

Last Updated: Mon, Sep 30, 2013 08:32 hrs

Due to sustained selling almost across the board, the market continues to languish deep down in the red now, extending its morning fall.

Concerns about a likely U.S. government shutdown amid a budget talk impasse and worries about the domestic economy are contributing to the decline. The Sensex is down 302.95 points or 1.54% at 19,424.32. The Nifty is at 5745.70, down 87.50 points or 1.5% from its previous close.

Capital goods, PSU, metal, realty, power and bank stocks are mostly trading sharply lower, and the indices tracking their performances are now down 2% - 2.8%. Automobile and oil stocks are also trading notably lower.

Tata Steel, BHEL, NMDC, Coal India, ONGC, Jaiprakash Associates, ICICI Bank, Punjab National Bank, Bharti Airtel, DLF, IndusInd Bank and Mahindra & Mahindra are down 3% - 5.4%.

Larsen & Toubro is down nearly 3%. Hero Motocorp, Hindalco, Bank of Baroda, Asian Paints, Axis Bank, IDFC, Tata Motors, NTPC, ITC, Grasim Industries, Maruti Suzuki, State Bank of India, Tata Power, HDFC Bank, HDFC, Dr Reddy's Laboratories and Reliance Industries are also trading notably lower.

Bucking the weak trend, HCL Technologies, Wipro, Infosys, Lupin, Hindustan Unilever, BPCL, Sun Pharmaceutical Industries, Ambuja Cements, ACC and Bajaj Auto are trading in positive territory, gaining 0.3% - 2%.

Financial Technologies has plunged nearly 12% to Rs 133 on heavy selling on the back of reports that the Economic Offences Wing is conducting raids at the company's Mumbai Head Quarters.

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