The market slipped into the red following weak Asian cues. Investors resorted to profit booking after yesterday's gains. The 30-share BSE Sensex was trading at 16,715, down 126 points and the 50-share NSE Nifty was lying 40 points lower at 5,016.
Among Asian markets, Kospi tanked 3% and Taiwan plunged 2%. Nikkei lost over 1%. Shanghai was down 0.4%.
Shares of major banking stocks continued to see a sell-off as it seemed that investors may be offloading exposure. ICICI Bank tumbled 3.5%. SBI, Kotak Mahindra Bank, PNB and Axis Bank were down 1.5-3%. IDFC too fell 3% and HDFC declined 0.5%.
In the auto space, Tata Motors too remained on sellers' radar by falling over 2%. M&M and Maruti Suzuki fell 0.8-1.5%. These stocks have been falling since yesterday.
No comments:
Post a Comment