Sensex falls over 100 pts, Nifty breaks 7300; Reliance drags

Equity benchmarks wiped out all morning gains, falling half a percent dragged by auto, FMCG, healthcare and oil stocks. The BSE Midcap also slipped into red and even market breadth was negative as about 1262 shares declined against 1042 advancing shares on the BSE.

The 30-share BSE Sensex fell 130.30 points to 23931.74 and the 50-share NSE Nifty declined 39.75 points to 7269.55.

Reliance Industries, Tata Motors, Maruti Suzuki, HUL, ONGC and Dr Reddy’s Labs were top gainers on Sensex, up 2-4 percent while Axis Bank continued to be leading contributor in Sensex’s gains, up 3.5 percent. ICICI Bank gained 1.6 percent.

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Posted in: Indian Market Tips