The Sensex continues to trade in the red, registering new intra-day lows. The index is currently down 190 points at 20,308 and the Nifty has shed 65 points at 6,080. In the broader markets, midcaps is down 1% in line with the Sensex while the smallcaps is down 0.9%
Earlier the day, the markets opened lower led by weak cues from Asia and Wall Street. Sell-off in banking stocks weighed on the index. The Sensex dropped 90 points, to 20,406 and the Nifty lost 34 points, 6112 in opening trades. From there on, the markets moved in a narrow range of 100 points and spiralled down sharply since the afternoon trades. Banking and Realty are the two sectors which lead the down fall.
The Asian markets saw a mixed closing. Taiwan Weighted lost nearly 2% while Shanghai Composite, Nikkei and Seoul Composite shed between 0.1% -0.5%. On the other hand, Hang Seng, Jakarta Composite, KLSE Composite and Straits Times gained 0.2% - 0.8%.
In tune with the negative sentiments in the international market, the European indices opened in the negative. CAC and DAX are down nearly 1% and FTSE has shed 0.8%
IT and FMCG are the only sectors which are in the positive on the sectoral chart. Realty and Bankex down 2% each are draggers closely followed by Capital Goods and Auto.
Tata Power, Hindalco, ITC up 1% followed by Wipro, TCS gaining 0.5% each are the top gainers on the Sensex.
The top losers are Bajaj Auto, DLF, ICICI Bank, Hero Honda down 3% each followed by HDFC, Reliance Communications, L&T, Tata Steel and Reliance Infrastructure shedding 2% each.
The market breadth is very negative. 2035 stocks have dcelined while 876 have advanced.
