Markets shows signs of pull-back, Sensex above 11K

A brief halt of trade in market due to sun-outage brought some relief for the markets as benchmarks recovered from day’s low after witnessing
frenzy of liquidating positions.

At 12:31 pm, Bombay Stock Exchange’s Sensex was at 11,004.07, down 691.17 points or 5.91 per cent. The index recovered over 263 points from lows of 10740.76.

National Stock Exchange’s Nifty was at 3415.55, down 191.05 points or 5.30 per cent after touching an intra-day low of 3329.45.

However, investors continued to off-load second rung stocks. BSE Midcap Index plunged 9.11 per cent and BSE Smallcap Index fell 8.23 per cent.

Among frontline stocks, Sterlite Industries (-15.44%), Satyam Computer (-14.62%), Wipro (-12.33%), Jaiprakash Associates (-12.23%) and ICICI Bank (-12.22%) were under severe pressure.

BSE Metal Index was down 9.54 per cent, BSE Realty Index was down 8.82 per cent and BSE IT Index was 8.59 per cent lower.

There were no gainers in the 30-share index.

Market breadth worsened with 2081 declines against 179 advances on BSE.

Source: EconomicTimes