Markets continued to trade with a negative bias in the past one hour on back of the continued selling pressure witnessed by the realty, FMCG, auto, capital goods and banking stocks. The Sensex was down 147 points at 20,153 and and the Nifty was lower by 44 points at 6035.
Meanwhile, banking stocks continued to witness the selling pressure cconsecutively for the third day, BSE banking index- bankex was down more than 0.65% or 87 points at 12,746. Bank of Baroda was the top loser, the stock was trading lower by nearly 3% at Rs 850 followed by State Bank of India, Indusind Bank, Federal Bank and ICICI Bank down more than 1% each.
The fertilizer stocks also took a beating after the government deffred to take a decision to free urea prices. Rashtriya Chemicals and Fertilizers was down 3.7% at Rs 94, Tata Chemicals was down 3.7% at Rs 383, Gujarat State Fertilizers fell more than 1.3% to Rs 348 and MP Agro Industries was down more than 4% at Rs 2.
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(Updated at 12.30)
Markets continued trade on a weak note on back of consistent selling pressure visible in realty, auto, capital goods and banking stocks.
The Sensex was down 120 points at 20,180 and Nifty was lower by 35 points at 6044.
On the economic front the government anounced the inflation figures for the week ended December 25. Primary article inflation was recorded at 20.20% versus 17.24% in the previous week, fuel index inflation was unchanged at 11.63% and the food article inflation was at 18.32% compared to 14.44%.
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NTPC was the top gainer on the Sensex the stocks was trading higher by more than 1.3% at Rs 201, Reliance Infrastructure, Bharti Airtel, HDFC Bank, Hindalco Industries and Tata Steel wer other notable gainers. On the other hand Sterlite Industries was the top loser the stock shed nearly 4% and was at Rs 183. Bajaj Auto, Cipla, Maruti Suzuki, StatBank of India and ONGC were also among the losers, down more than 2% each.
BSE Realty index was the top sectoral loser, the index was down more than 1.4% or 40 points at 2741, auto, capital goods, FMCG and BSE banking index- bankex were also trading in the red down more than 0.65% each. While BSE Teck, IT, power, oil &gas and healthcare indices were among the gainers on the sectoraal front.
Sunteck Realty, Anant Raj Industries, Unitech, Indiabulls Real Estate and Mahindra Lifespace were among the top losers on the realty index. IBN 18 Broadcast was the top gainer on the teck index the stocks was trading higher by more than 3.5% at Rs 95 followed by JMD Telefilms, HCL Technologies, Bharti Airtel, MTNL and Tech Mahindra
The broader markets were in line with the benchmark indices, the mid-cap index was trading lower by more than 59 points or 0.76% at 7694 and the small-cap index was at 9706 down 33 points.