Markets react sharply; metal, realty, bank, CG, O&G dip 4 per cent

19 February 2009

Continuous selling in infrastructure, rate sensitive, oil & gas, telecom, metal and technology stocks post budget, is putting huge pressure on the markets. Broader indices are following the same trend.

The 50-share NSE Nifty was trading at 2,847, down 100 points and the Sensex was at 9,302 points, down 332 points, at 2:45 hours IST. Among broader indices, BSE Midcap lost 2.5% and Small cap index fell 1.9%. 

Market breadth is in favour of declines; about 992 shares have advanced while 1854 shares declined. Nearly 172 shares are unchanged.

Heavyweights like Reliance Industries, NTPC, SBI, ONGC, BHEL, ICICI Bank, Bharti, Reliance Communication, L&T, Infosys, SAIL, HDFC, HDFC Bank, TCS and Wipro went down 2-5.5%.

Among midcap stocks, Texmaco, Gateway Distripark, Lakshmi Energy, Indiabulls Real and Motherson Sumi fell 8-10%. Temptation Food, Kohinoor Foods, Kalindee Rail, Titagarh Wagons and Kernex Micro tumbled 10-20% in the small cap space.

BSE Metal, Realty, Bankex, Capital Goods, Power and Oil & Gas indices fell 4-4.5%. TECK, IT, Healthcare and Auto indices tanked 1-3%.