After a sharp plunge and a subsequent small recovery, the Sensex has slipped deeper into the red once again due to heavy selling in several blue chip stocks this morning.
At 12,984.75, the Sensex is down with a huge loss of 345.76 points or 2.59% at present. At 3944.15, the Nifty trails its previous closing mark by 2.37% or 95.55 points.
Bank stocks are among the worst hit and mirroring their fall, the Bankex has slipped by over 5% now. Power, FMCG, CG, Auto, Realty, PSU, HC and Metal indices have lost between 2% and 3%. The Oil & Gas index is down with a loss of 1.8%. The Consumer Durables and Teck indices have lost 0.91% and 1% respectively.
Information technology stocks, which had nosedived in the previous two sessions, have bounced back on fairly strong buying support. The BSE IT index is up in the positive zone with a modest gain of 0.69%.
IT bellwether Infosys Technologies has gained 0.65% at Rs 1566. Satyam Computer Services has surged 2.7% to Rs 420.25. Tata Consultancy Services is up by around 1.9% while Wipro has moved up by nearly a per cent. i-flex Solutions, MphasiS and Tech Mahindra have posted modest gains.
Banking sector heavyweights ICICI Bank, HDFC Bank and State Bank of India have lost 6.7%, 5.25% and 4.55% respectively. Among other stocks in the Bankex, Axis Bank, Kotak Bank, Punjab National Bank, Bank of India, Yes Bank, Indian Overseas Bank, Bank of Baroda, Andhra Bank, Allahabad Bank, Federal Bank, Canara Bank, Oriental Bank of Commerce, Karnataka Bank and Union Bank of India have declined sharply.
Ranbaxy Laboratories has slipped by 6.5% on heavy selling at the counter. Mahindra & Mahindra has lost over 5%. HDFC, Reliance Communications, ITC, Bharti Airtel, Tata Motors, BHEL and Reliance Infrastructure are down by 3% - 5%.
Maruti Suzuki, ONGC, ACC, Hindalco, Ambuja Cements, NTPC, Jaiprakash Associates and Larsen & Toubro have also declined sharply.
At 12,984.75, the Sensex is down with a huge loss of 345.76 points or 2.59% at present. At 3944.15, the Nifty trails its previous closing mark by 2.37% or 95.55 points.
Bank stocks are among the worst hit and mirroring their fall, the Bankex has slipped by over 5% now. Power, FMCG, CG, Auto, Realty, PSU, HC and Metal indices have lost between 2% and 3%. The Oil & Gas index is down with a loss of 1.8%. The Consumer Durables and Teck indices have lost 0.91% and 1% respectively.
Information technology stocks, which had nosedived in the previous two sessions, have bounced back on fairly strong buying support. The BSE IT index is up in the positive zone with a modest gain of 0.69%.
IT bellwether Infosys Technologies has gained 0.65% at Rs 1566. Satyam Computer Services has surged 2.7% to Rs 420.25. Tata Consultancy Services is up by around 1.9% while Wipro has moved up by nearly a per cent. i-flex Solutions, MphasiS and Tech Mahindra have posted modest gains.
Banking sector heavyweights ICICI Bank, HDFC Bank and State Bank of India have lost 6.7%, 5.25% and 4.55% respectively. Among other stocks in the Bankex, Axis Bank, Kotak Bank, Punjab National Bank, Bank of India, Yes Bank, Indian Overseas Bank, Bank of Baroda, Andhra Bank, Allahabad Bank, Federal Bank, Canara Bank, Oriental Bank of Commerce, Karnataka Bank and Union Bank of India have declined sharply.
Ranbaxy Laboratories has slipped by 6.5% on heavy selling at the counter. Mahindra & Mahindra has lost over 5%. HDFC, Reliance Communications, ITC, Bharti Airtel, Tata Motors, BHEL and Reliance Infrastructure are down by 3% - 5%.
Maruti Suzuki, ONGC, ACC, Hindalco, Ambuja Cements, NTPC, Jaiprakash Associates and Larsen & Toubro have also declined sharply.
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