Mkts extend losses; metals, oil & gas, cap goods tank
At 14:25 hours IST, the markets extended losses further. Oil & gas, capital goods, metals, telecom, realty, cement, select banking and technology stocks were under pressure and kept the Nifty below the 4450 level. On the global front, European markets were down 0.5% each, which also weighed on our markets.
The Sensex tumbled 234 points, to 14,723 and the Nifty slipped 104 points, to 4,413. Even the broader indices like the BSE Midcap and Smallcap indices fell 1.7-2%. The market breadth turned negative; about 1040 shares advanced while 1723 shares declined. Nearly 383 shares were unchanged.
All the sectoral indices were in the red. Metal, Realty, Oil & Gas and Capital Goods indices declined 2-4%. Power, FMCG, Auto and Bank indices lost 1-1.7%.
In the midcap space, Castrol, MRF, EIH, Cadila Health and Piramal Health gained 4-5% while Lanco Infratech, IDBI Bank, Thermax and Welspun Gujarat fell 6% each.
In the smallcap space, Dhanuka Agritec, Manappuram, GRUH Finance, Mcleod Russel and Kothari Product were up 5-10.5% while
Atul, Balaji Distilleries, Shiv Vani Oil, Hexaware Tech and Elgi Equipments lost 5.6-6.5%.