Mid-Market- Sensex slumps amid bearish Asian cues Analysis for May 23, 2013

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The key domestic benchmarks came under heavy selling pressure today as the Sensex slumped by over 270 points in noon trade as equities from Asia tumbled after China"s manufacturing contracted for the first time in seven months and US Federal Reserve Chairman Ben Bernanke hinted that the central bank may taper its QE program in the coming policy meetings even though he warned that a premature withdrawal of QE may hurt the US economic recovery.

At 12:24PM, the BSE SENSEX was at 19,783.99, down by 278.25 points or by 1.39 per cent and the NSE Nifty was at 5,974, down by 120.5 points or by 1.98 per cent.

The BSE Sensex touched intraday high of 20,027.56 and intraday low of 19,697.44. The NSE Nifty touched intraday high of 6,081.45 and intraday low of 5,972.5.

Meanwhile, the BSE MIDCAP was at 6,362, down by 130.77 points or by 2.01 per cent, while the BSE SMLCAP was at 5,981.74, down by 127.33 points or by 2.08 per cent.

On the Sectoral front, Realty and Capital Goods slumped 5.96 per cent and 3.48 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 2197, shares advanced were 436 while 1643 shares declined and 118 were unchanged.

The top losers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 1617.00,-4.17%), Larsen & Toubro Ltd. (Rs. 1459.95,-3.77%), Bharti Airtel Ltd. (Rs. 300.40,-3.66%), Bharat Heavy Electricals Ltd. (Rs. 196.05,-3.61%), Mahindra & Mahindra Ltd. (Rs. 957.15,-3.44%), among others.

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Story first published: Thursday, May 23, 2013, 14:20 [IST]
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