Mumbai: This is the third straight day that the markets continued to trade weak due to selling pressure in capital goods, metal, realty, power, banking and FMCG stocks. BHEL, Maruti, L&T, Reliance Infra, Ambuja Cements and SAIL are top losers.
The Nifty started trading above 4900 mark. However, some recovery has happened in technology and some in pharma stocks. Midcap and small cap also under pressure.
Market breadth is negative, nearly 174 shares advanced while 1000 shares declined. On the global front, Asian markets were trading lower.
At 1142 hrs, IST, the Sensex was down 165 points at 16,484 and the Nifty down 38 points at 4908.
BSE Capital Goods and Metal indices were down over 2%, Realty down nearly 2%. Auto, Power, FMCG and Bankex slipped close to 1.8%.
However, Sun Pharma, Bharti Airtel, Suzlon Energy, TCS and Infosys were major gainers.
BSE IT Index jumped over 1% as buying seen in HCL Tech, Tech Mahindra, Wipro, Satyam, TCS and Infosys.
Amongst pharma space, Sun Pharma, GSK Pharma, Dr Reddy's Labs, Glenmark and Sterling Bio gained. The BSE Healthcare Index was up 0.35%.
Latest news:
Ashok Leyland-Nissan signed 3 JVs for LCV; JV to develop, manufacture & sell LCV and power trains.
BHEL bagged Rs 1,150 crore order for captive power plant
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