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Afternoon
the Stock market continues to nosedive as the Nifty cracks more than 2 percent
to slip below the 8150 mark. The 50-share index is down 193.35 points or 2.3
percent at 8131.45. The Sensex is down 604.64 points or 2.2 percent at 26835.50
Bank Nifty leads the fall, down almost 3 percent while heavyweights like TCS,
Infosys, SBI and Reliance slip below their 200-day moving average.
Midcaps too are having a rough ride as the index plunges more than 3 percent with the advance decline ratio extremely weak at around 1:10 in favor of the declines. BHEL is down 5 percent while NTPC, Vedanta, L&T and ICICI Bank are major losers in the Sensex. Bharti is still up 2 percent. Globally, Asian and European markets trade mixed. In commodities, Brent Crude prices spike up further to trade above 68 dollars per barrel.
The Nifty dropped 187.95 points or 2.26 percent to 8136.85, dragged by banks, capital goods, oil and technology stocks. The rising oil to a 4-month high on Middle East concerns and Greece issues dampened the investors' sentiment on street. BHEL and NTPC fell more than 4.5 percent followed by L&T, Vedanta, Tata Power, Ambuja Cements, NMDC and BPCL with 3.5-4 percent loss.
Midcaps too are having a rough ride as the index plunges more than 3 percent with the advance decline ratio extremely weak at around 1:10 in favor of the declines. BHEL is down 5 percent while NTPC, Vedanta, L&T and ICICI Bank are major losers in the Sensex. Bharti is still up 2 percent. Globally, Asian and European markets trade mixed. In commodities, Brent Crude prices spike up further to trade above 68 dollars per barrel.
The Nifty dropped 187.95 points or 2.26 percent to 8136.85, dragged by banks, capital goods, oil and technology stocks. The rising oil to a 4-month high on Middle East concerns and Greece issues dampened the investors' sentiment on street. BHEL and NTPC fell more than 4.5 percent followed by L&T, Vedanta, Tata Power, Ambuja Cements, NMDC and BPCL with 3.5-4 percent loss.
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