Selling intensifies; Sensex hits 3-month low

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Selling intensifies; Sensex hits 3-month low

05 Feb 10 05:25 PM

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MUMBAI: The market lost further ground in afternoon trade as the bear grip tightened. Realty and metal counters were bleeding with the sectoral indices slumping more than 5 per cent. The broader market took the sharpest knock.

At 1:55 pm, National Stock Exchange’s Nifty was at 4709.15, down 136.20 points or 2.81 per cent. The 50-share index touched a low of 4692.50 and high of 4827.

Bombay Stock Exchange’s Sensex was at 15,754.76, down 470.19 points or 2.90 per cent. The index hit a low of 15,727.49 and high of 15790.49.

There was massive selling pressure in midcaps and smallcaps. BSE Midcap Index was down 3.3 per cent and BSE Smallcap Index moved 3.65 per cent lower.

Amongst the sectoral indices, BSE Realty Index fell 5.49 per cent, BSE Metal Index slipped 5.24 per cent and BSE Bankex declined 3.6 per cent.

Biggest Nifty laggards comprised Ranbaxy Laboratories (-6.42%), Jaiprakash Associates (-6.25%), Hindalco Industries (-5.88%), Tata Steel (-5.49%) and SAIL (-4.98%).

None of the stocks in the 50-share index could brave the tide.

Market breadth on the BSE collapsed with 2455 losers and 327 advances.