16 June 2011

Sensex Below 18K

Equity benchmarks extended sell-off on the back of further fall in European markets, reacting to Greek's debt worries. Nifty has broken the 5400 mark - at three-week low, dragged down by heavyweights like TCS, Bharti Airtel, Reliance Industries, Infosys, Wipro, L&T and HDFC Bank, which fell 1-3%. Metal, cement, auto, select healthcare and private banking companies' shares too were adding pressure on the market.

The 50-share NSE Nifty was trading at 5,391, down 56 points and the 30-share BSE Sensex tumbled 172 points to 17,960 on further build up in shorts. European markets like France's CAC, Germany's DAX and Britain's FTSE fell 1-2%.

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