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Sensex set for another weak close

Source : SIFY
Last Updated: Wed, Mar 20, 2013 09:51 hrs
Broker monitors index numbers on his computer terminals at a stock brokerage firm in Mumbai

With just a few more minutes to go for the bell, and several blue chip stocks under pressure due to heavy selling, the market looks headed for a weak close again.

At 18,874.70, the Sensex is now down 133.40 points or 0.7% from its previous close.
The Nifty is down 56 points or almost 1% at 5685.95.



Realty stocks are hammered once again. With key stocks in that space posting sharp losses, the BSE Realty index is now down as much as 4.6%. Power, capital goods, PSU and bank stocks are the other major losers. Meal and oil stocks are down as well.

Bharti Airtel is down 4.3%, with court summons against the company in the additional spectrum allocation case triggering a sell-off at the counter. State Bank of India is down nearly 4%. NTPC is down 3.5%.

ICICI Bank, ONGC, Hindalco, Larsen & Toubro and BHEL are down 2.4% - 3%. Maruti Suzuki, Tata Steel, GAIL India, Jindal Steel & Power, Mahindra & Mahindra, Wipro, HDFC Bank and Sterlite Industries are also trading notably lower.

Reliance Infrastructure has plunged nearly 10%. Jaiprakash Associates, IDFC, ACC, DLF, Punjab National Bank, Power Grid Corporation, Bank of Baroda and Ambuja Cements are down 2% - 5%.

Hindustan Unilever, Cipla, Asian Paints, Tata Motors, Lupin, Tata Consultancy Services, Hero Motocorp, Ranbaxy Laboratories, Tata Power, ITC and Infosys are up in positive territory with sharp to moderate gains.

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