Fall in manufacturing data in US, Europe and China dented investor sentiment across the globe. The benchmark Sensex shed 200 points in trade today with rate sensitives like banking, realty and capital goods taking a beating.
The 50-share NSE Nifty hit the 5450 level on downside -- trading at 5,455, down 62 points while the 30-share BSE Sensex fell 202 points to 18,112 late morning trade.
According to portfolio manager PN Vijay, global events would be the decisive factor for market in the coming six months. "There may be a slightly negative backdrop but substantially the action has to come within India."
Technology stocks were under pressure because slowdown will definitely have impact on exports of these companies. Infosys, TCS and Wipro were down between 1% & 2%.
Heavyweights Bharti Airtel, ITC, L&T, SBI, ICICI Bank and HDFC Bank slipped between 1% & 2%. Reliance Industries slipped over 0.5%.
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