Sensex, Nifty, Midcap sink 1.5-2%; banks, FMCG, auto stocks drag

The sell-off continued in morning trade on negative lead from global peers as investors feel the central banks will become less accommodative. They maintained caution ahead of Federal Reserve's policy meeting due next week.

The Sensex slipped 416.52 points or 1.45 percent to 28380.73 and the Nifty dropped 134.60 points or 1.52 percent to 8732.10, dragged by banks, auto, FMCG, metals and infra stocks.

However, technology stocks played defensive role with the IT index rising nearly a percent.

The market breadth also gradually improved. More than three shares declined for every share rising on the exchange against the earlier ratio of 6:1.



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Posted in: Indian Market Tips