The Midcap, Smallcap and Nifty Junior indices are also trading with significant losses on the NSE.
After exhibiting sideways session for the major part of the day, the market tumbled sharply after the Rail Budget was announced. Selling was evident in cement and metal stocks, where the government proposed a freight rate hike.
The BSE Sensex plunged 374 points from the day's high to hit a low of 28,695. Currently, the BSE benchmark index, the Sensex is down 211 points at 28,797.
The NSE Nifty slipped below 8,700 and touched a low of 8,673. The NSE index, however, has recouped some losses and now trading above 8,700 - with a loss of 65 points at 8,702.
The broader markets are under-performing the CNX Nifty index, the Midcap and Nifty Junior indices have dropped 1.4 per cent each at 12,821 and 19,210, respectively. The Smallcap index has also shed nearly a per cent at 5,577.
There are no gainers in sectoral indices. The CNX Metal and PSU Bank indices have slipped 1.5 per cent each at 2,517 and 3,709, respectively.
The Pharma, Auto, FMCG and IT indices are the other significant losers.
The breadth remains negative - out of 1,693 stocks so far traded on the NSE 957 stocks have declined, while 490 stocks have advanced.
Among cement shares: JK Lakshmni Cement has plunged almost 3 per cent at Rs. 345. Heidelberg Cement and ACC have dropped over a per cent each at Rs. 77.30 and Rs. 1,637.
While, India Cement has recovered losses, and is now up around a per cent at Rs. 99.35 and Grasim Industries has added over 0.5 per cent at Rs. 3,689.
In metal space, SAIL and Hindalco have slipped over 2.5 per cent each at Rs. 68.20 and Rs. 149, respectively.
Hindustan Copper, Orissa Minerals, Coal India, Jindal Saw and Tata Steel are the other prominent losers.
The BSE Sensex plunged 374 points from the day's high to hit a low of 28,695. Currently, the BSE benchmark index, the Sensex is down 211 points at 28,797.
The NSE Nifty slipped below 8,700 and touched a low of 8,673. The NSE index, however, has recouped some losses and now trading above 8,700 - with a loss of 65 points at 8,702.
The broader markets are under-performing the CNX Nifty index, the Midcap and Nifty Junior indices have dropped 1.4 per cent each at 12,821 and 19,210, respectively. The Smallcap index has also shed nearly a per cent at 5,577.
There are no gainers in sectoral indices. The CNX Metal and PSU Bank indices have slipped 1.5 per cent each at 2,517 and 3,709, respectively.
The Pharma, Auto, FMCG and IT indices are the other significant losers.
The breadth remains negative - out of 1,693 stocks so far traded on the NSE 957 stocks have declined, while 490 stocks have advanced.
Among cement shares: JK Lakshmni Cement has plunged almost 3 per cent at Rs. 345. Heidelberg Cement and ACC have dropped over a per cent each at Rs. 77.30 and Rs. 1,637.
While, India Cement has recovered losses, and is now up around a per cent at Rs. 99.35 and Grasim Industries has added over 0.5 per cent at Rs. 3,689.
In metal space, SAIL and Hindalco have slipped over 2.5 per cent each at Rs. 68.20 and Rs. 149, respectively.
Hindustan Copper, Orissa Minerals, Coal India, Jindal Saw and Tata Steel are the other prominent losers.
No comments:
Post a Comment