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The market extended losses in noon trade with the Sensex falling more than 350 points, dragged by banking & financials and technology stocks. However, the broader markets saw less fall compared to benchmarks. The BSE Midcap and Smallcap indices declined 0.3-0.6 percent.
The Sensex plunged 365.63 points or 1.30 percent to 27746.20 and the Nifty tanked 92.10 points or 1.08 percent to 8438.70. More than two shares declined for every share advancing on the Bombay Stock Exchange.
Housing finance company HDFC crashed 5 percent followed by Coal India with 3 percent loss and Infosys with 2.6 percent decline.
ICICI Bank, HDFC Bank, Sun Pharma, Tata Motors, HUL, ONGC, Wipro, Dr Reddy’s Labs and Sesa Sterlite fell 1-2 percent. However, capital goods and telecom stocks bucked the trend. Bharti Airtel, L&T and BHEL gained 1-2 percent.
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Posted in: Indian Market Tips
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