Sensex down 168 points; Breadth too turns negative
The market weakened considerably in mid-noon deals on the back of sudden selling pressure in select banking, energy and infrastructure related shares.
The financials in particular are the major laggards in trade so far today. The likes of HDFC, HDFC Bank, Axis Bank and SBI have accounted for a loss of 138 points on the BSE index.
The BSE benchmark index so far has touched a low of 28,655, and is now down 168 points at 28,676. The Nifty has shed 54 points at 8,703.
The India VIX (Volatility) index is down 0.5 per cent at 15.7275.
The CNX Energy index has plunged 1.3 per cent to 7,825. The Bank Nifty is down 0.5 per cent at 19,048, and the Infra index is almost unchanged at 3,248.
Federal Bank down over 3 per cent is the major loser in the banking space. Kotak Bank, Bank of India, Axis Bank, Bank of Baroda and HDFC Bank have declined 1-2 per cent each.
Indian Oil is the major loser in the energy space, down 2.2 per cent at Rs. 342. ONGC and Power Grid have slumped 1.8 per cent each to Rs. 310 and Rs. 148, respectively. NTPC, Cairn India, Gail India and Reliance Industries are the other major losers.
Telecom major - Bharti Airtel remains the stand-out gainer in the Nifty-50, up 7 per cent at Rs. 367.
On the other hand, HDFC is the major loser, down 4 per cent at Rs. 1,314.
The breadth too has turned negative - out of 1,701 stocks traded on the NSE, 883 have declined and 600 have advanced so far.
The market weakened considerably in mid-noon deals on the back of sudden selling pressure in select banking, energy and infrastructure related shares.The financials in particular are the major laggards in trade so far today. The likes of HDFC, HDFC Bank, Axis Bank and SBI have accounted for a loss of 138 points on the BSE index.
The BSE benchmark index so far has touched a low of 28,655, and is now down 168 points at 28,676. The Nifty has shed 54 points at 8,703.
The India VIX (Volatility) index is down 0.5 per cent at 15.7275.
The CNX Energy index has plunged 1.3 per cent to 7,825. The Bank Nifty is down 0.5 per cent at 19,048, and the Infra index is almost unchanged at 3,248.
Federal Bank down over 3 per cent is the major loser in the banking space. Kotak Bank, Bank of India, Axis Bank, Bank of Baroda and HDFC Bank have declined 1-2 per cent each.
Indian Oil is the major loser in the energy space, down 2.2 per cent at Rs. 342. ONGC and Power Grid have slumped 1.8 per cent each to Rs. 310 and Rs. 148, respectively. NTPC, Cairn India, Gail India and Reliance Industries are the other major losers.
Telecom major - Bharti Airtel remains the stand-out gainer in the Nifty-50, up 7 per cent at Rs. 367.
On the other hand, HDFC is the major loser, down 4 per cent at Rs. 1,314.
The breadth too has turned negative - out of 1,701 stocks traded on the NSE, 883 have declined and 600 have advanced so far.
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