Sensex tanks 250 pts, Midcap falls too; Bank Nifty down 1%

Equity benchmarks as well as broader markets continued to be under pressure in noon trade. FMCG, private banking & financials, technology, oil and infra stocks were under pressure while healthcare stocks bucked the trend.

The Sensex declined 256.22 points or 1.08 percent to 23502.68 and the Nifty fell 76.80 points or 1.06 percent to 7138.90. More than six shares declined for every share advancing on the National Stock Exchange.

Vedanta, ONGC, Cairn India, IndusInd Bank, Kotak Mahindra Bank, BHEL, ITC, Maruti and Hindalco topped selling list, down 2-4 percent while SBI, Dr Reddy’s Labs, Tata Motors, Bharti Airtel, Bank of Baroda and Idea Cellular gained 1-2 percent. Bank Nifty and IT indices declined 1 percent each while FMCG lost 2 percent.

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Posted in: Indian Market Tips