Markets are trading weak in the early deals of Monday with the benchmark index Sensex shedding 4.2 per cent or 655 points. It is trading at 15,104 levels.
In broader markets, Nifty is in the red by 189 points or four per cent and is trading at 4556 levels. Selling is visible in real estate, oil & gas, banking and metal counters by over 3.1 per cent each.
“The pain in the market will last for few months. Investors have become a lot more cautious,” said Sharad Shukla, Chief Investment Officer- Wealth Management Group, Axis Bank.
“The important support level is 4450 for the Nifty and if it breaks this level then the markets will plunge further,” added Anu Jain, Technical Advisor, The Omniscient Securities.
The other Asian markets are also trading weak on Monday. Hong Kong's Hang Seng, Japan’s Nikkei and South Korea's Kospi are in red territory by over 2.3 per cent each.
Jaiprakash Associates at Rs 216 shedding 8.6 per cent or Rs 20 is the biggest loser in the BSE-30 pack. DLF Ltd, ICICI Bank, BHEL and HDFC Bank are some of the other major losers.
Among the NSE-50 scrips, Housing Development Finance, Unitech, Siemens India and SAIL are in the red by over 4.4 per cent each.
Realty cracks
The BSE real estate index shedding 5.3 per cent or 411 points is worst hit among the sectoral indices. Housing Development & Infra, DLF, Indiabulls real estate and Puravankara are the major losers in this pack.
In broader markets, Nifty is in the red by 189 points or four per cent and is trading at 4556 levels. Selling is visible in real estate, oil & gas, banking and metal counters by over 3.1 per cent each.
“The pain in the market will last for few months. Investors have become a lot more cautious,” said Sharad Shukla, Chief Investment Officer- Wealth Management Group, Axis Bank.
“The important support level is 4450 for the Nifty and if it breaks this level then the markets will plunge further,” added Anu Jain, Technical Advisor, The Omniscient Securities.
The other Asian markets are also trading weak on Monday. Hong Kong's Hang Seng, Japan’s Nikkei and South Korea's Kospi are in red territory by over 2.3 per cent each.
Jaiprakash Associates at Rs 216 shedding 8.6 per cent or Rs 20 is the biggest loser in the BSE-30 pack. DLF Ltd, ICICI Bank, BHEL and HDFC Bank are some of the other major losers.
Among the NSE-50 scrips, Housing Development Finance, Unitech, Siemens India and SAIL are in the red by over 4.4 per cent each.
Realty cracks
The BSE real estate index shedding 5.3 per cent or 411 points is worst hit among the sectoral indices. Housing Development & Infra, DLF, Indiabulls real estate and Puravankara are the major losers in this pack.
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