SENSEX UNDER PRESSURE; REALTY, BANKS DOWN

SENSEX UNDER PRESSURE; REALTY, BANKS DOWN

MUMBAI: Market continued to reel under selling pressure as cautious traders stayed away after the shaky opening in line with global markets. stocks
in realty, banks and capital goods were badly hit. At 12 pm, Bombay Stock Exchange’s Sensex was at 13767.20, down 403.25 points or 2.85 per cent. The 30-share index touched an intra-day low of 13701.76 and high of 14039.58. National Stock Exchange’s Nifty was at 4076.45, down 125.70 points or 2.99 per cent. The broader index hit a low of 4061.10 and high of 4201.85. “Nifty has supports at 4165-4140-4115 and below 4115 it could fall to 4085-4070 during the day. The index has resistances at 4195-4225-4250 and above 4250 we may see short covering and the index may move to 4275,” said Arihant Capital market reportBSE Midcap Index was down 3.42 per cent and BSE Smallcap Index declined 3.44 per cent. Amongst the sectoral indices, BSE Realty Index fell 7.27 per cent, BSE Bankex slipped 4.62 per cent and BSE Capital Goods Index fell 3.88 per cent. Tata Steel (-7.52%), Reliance Infrastructure (-6.85%), DLF (-6.56%), ICICI bank
(-6.49%) and Sterlite Industries (-6.21%) were amongst the Sensex losers. ACC (3.35%), Grasim Industries (1.30%), Tata Motors (1.04%) and Maruti Suzuki (0.93%) were amongst the gainers. Market breadth was negative on the BSE with 1847 declines and 393 advances. Asian markets were down on concerns of economic recovery in the US. Nikkei 225 was down 2.35 per cent, Hang Seng fell 1.69 per cent and Strait Times slipped 0.72 per cent.