MUMBAI: Equities were witnessing selling pressure following a sharp correction in Asian indices previous day. Negative opening of the European markets also weighed sentiments. Rate sensitives led the downfall as traders booked profits ahead of Reserve Bank of India’s policy meet.
At 3:20 pm, Bombay Stock Exchange’s Sensex was at 16242.46, down 515 points or 3 per cent. The index touched an intraday high of 16708.60.
National Stock Exchange’s Nifty was at 4881.05, down 126.85 points or 2.53 per cent. The broader index touched a low of 4856.55 and high of 5008.50 in trade so far.
BSE Midcap Index was down 2 per cent and BSE Smallcap Index slipped 2.52 per cent.
Amongst the sectoral indices, rate sensitives led the decline ahead of Reserve Bank of India’s policy meet. BSE Realty Index was down 5.41 per cent, BSE Metal Index fell 4.49 per cent and BSE Auto Index slipped 3.86 per cent.
Tata Steel (-6.02%), Hindalco (-5.47%), Tata Motors (-5.21%), Mahindra & Mahindra (-5.16%) and SBI (-4.70%) were the top Nifty losers.
ITC (1.10%) and Tata Power (0.55%) were the only index gainers.
Market breadth was negative on the Nifty with 45 declines and 5 advances.
Europe also opened on a lower note as profit booking emerged in financial stocks. FTSE 100 was down 1.17 per cent, CAC 40 declined 1.65 per cent and DAX fell 0.98 per cent.
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- Asian stocks fall for eighth straight day
- Nifty bottom seen at 4200; auto, infotech look good: IFCI
- Indian markets hit by record low buys
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