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The market remained under pressure in morning trade with the Sensex falling more than 150 points, dragged by private banks, FMCG, auto and technology stocks. Most Asian markets were under pressure with the Hang Seng and Shanghai losing 1.7 percent each.
The 30-share BSE Sensex declined 179.63 points to 25593.98 and the 50-share NSE Nifty fell 53.15 points to 7837.60. The market breadth was also negative as aabout 959 shares declined against 711 advancing shares on Bombay Stock Exchange.
Maruti Suzuki lost nearly 3 percent as Suzuki crashed 15 percent in Tokio market after the vehicle safety group Global NCAP’s report on Tuesday said that as many as five popular passenger vehicle car models in India, including Maruti Celerio failed crash tests with ‘zero star’ rating.
Reacting to the report, RC Bhargava, Chariman, Maruti Suzuki India said the GNCAP is a voluntary standard and no country requires you to pass its standards. So there is no fear of exports being hit, he added.
HDFC Bank, Infosys, ICICI Bank, ITC, Tata Motors, Asian Paints, M&M and Axis Bank were down around 1 percent while ONGC and SBI outperformed.
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Posted in: Indian Market Tips
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