Sensex treading water amid weak Asian cues Analysis for Oct 23, 2013

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The key domestic benchmarks came under heavy selling pressure in noon trade as the Sensex slumped by over 240 points amid a weak trend across Asian markets. Asian markets fell sharply today as weaker than expected payrolls gains in the US in September and a surge in China"s money market rates invited pessimism over the outlook for the global economy. On the domestic front, Realty, Power, Oil & Gas, Auto, IT and Teck were on the sellers" radar. Wipro was the major loser amid profit booking after posting better-than-expected second quarter numbers. The IT major beat analysts' expectations by reporting 19.96 per cent growth in its consolidated net profit for Q2 FY 2013-14 at Rs 1,932.10 crore.

At 13:14 PM, the BSE SENSEX was at 20,619.45, down by 245.52 points or by 1.18 per cent, while the NSE Nifty was at 6126.40, down by 1.23 per cent. (At 13:23 PM).

The BSE Sensex touched an intraday high of 20,922.32 and an intraday low of 20,589.72, while the NSE Nifty touched an intraday high of 6,217.95 and an intraday low of 6,118.65.

The BSE MIDCAP was at 5,957.22 down by 30.57 points or by 0.51 per cent, while the BSE SMLCAP was at 5,834.53, down by 36.85 points or by 0.63 per cent.

On the Sectoral front, Realty and Power slumped by 2.45 per cent and 1.71 per cent, respectively.

The top losers of the Sensex were Wipro (down 4.21 per cent at Rs 493.20), NTPC (down 2.96 per cent at Rs 144), Tata Motors (down 2.72 per cent at Rs 369.60), Dr Reddys Lab (down by 2.34 per cent at Rs 2,373.25) and Sun Pharma (down 2.33 per cent at Rs 623.20). (At 13:17 PM).

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Story first published: Wednesday, October 23, 2013, 13:48 [IST]
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