The Sensex slipped below the 18,000 level - a psychologically important level at 14:30 hours. Traders could be withdrawing money by selling shares as foreign money started going out since January. Foreign investors were net sellers of Rs 6,000 crore in January; they too were net sellers for last three days.
Indices hit five months low today on the back of consistent sell-off for 5th consecutive session. However, the Nifty managed to hold back the 5400-mark.
All sectoral indices were under selling pressure. The Realty Index always hit the most due to panic selling - down 3.7%. FMCG, Auto, Oil & Gas and Capital goods indices were down 2-2.6%. Healthcare, Power, IT, Bank and Metal Indices fell 1-1.5%.
The 30-share BSE Sensex was trading at 18,023, down 305 points and the 50-share NSE Nifty tanked 95 points to 5,411, after hitting a low of 17,997.80 & 5,403.05, respectively. The broader indices too lost 1.5%.
However, indices managed to show some recovery immediately due to buying in HDFC, Sterlite, ONGC and Hindalco. Buying at lower levels too helped in recovery.
Heavyweight Reliance Industries tumbled below Rs 900, down 3%. Tata Motors was the top loser on Nifty with 6% fall. JSPL and BPCL went down over 4%.
NTPC, ITC, ICICI Bank, L&T, Wipro, Infosys, Reliance Communications, Kotak Mahindra Bank and Tata Steel lost 1.7-2.5%. TCS, SBI, HDFC Bank and BHEL declined 0.5-0.8%.
In midcap space, Apollo Tyres, Novartis India, Sadbhav Engg, Uttam Galva and Hathway Cable went up 3.6-5%. However, Jain Irrigation plunged 16.3%. SpiceJet, Escorts, GVK Power and Kingfisher Airlines fell 7.5-11%.
Indices hit five months low today on the back of consistent sell-off for 5th consecutive session. However, the Nifty managed to hold back the 5400-mark.
All sectoral indices were under selling pressure. The Realty Index always hit the most due to panic selling - down 3.7%. FMCG, Auto, Oil & Gas and Capital goods indices were down 2-2.6%. Healthcare, Power, IT, Bank and Metal Indices fell 1-1.5%.
The 30-share BSE Sensex was trading at 18,023, down 305 points and the 50-share NSE Nifty tanked 95 points to 5,411, after hitting a low of 17,997.80 & 5,403.05, respectively. The broader indices too lost 1.5%.
However, indices managed to show some recovery immediately due to buying in HDFC, Sterlite, ONGC and Hindalco. Buying at lower levels too helped in recovery.
Heavyweight Reliance Industries tumbled below Rs 900, down 3%. Tata Motors was the top loser on Nifty with 6% fall. JSPL and BPCL went down over 4%.
NTPC, ITC, ICICI Bank, L&T, Wipro, Infosys, Reliance Communications, Kotak Mahindra Bank and Tata Steel lost 1.7-2.5%. TCS, SBI, HDFC Bank and BHEL declined 0.5-0.8%.
In midcap space, Apollo Tyres, Novartis India, Sadbhav Engg, Uttam Galva and Hathway Cable went up 3.6-5%. However, Jain Irrigation plunged 16.3%. SpiceJet, Escorts, GVK Power and Kingfisher Airlines fell 7.5-11%.
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