Sensex slides 1200 points from morning's high as election euphoria subsides

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Sensex slides 1200 points from morning's high as election euphoria subsides
Indices
Sensex26,230.66Sensex Quote-329.26 [1.24%]
Nifty8,086.80Nifty Quote-106.10 [1.30%]
The Sensex after rallying almost 1400 points in trade, has given up significant gains and is now up only 284 points. Banking stocks continue to lead.

2:44 pm: ITC and technology stocks are dragging the Sensex lower with ITC down 3.5 per cent.

2:10 pm: Sensex up only 260 points as investors resort to profit booking. A sensational 1200 points fall from morning's 1450 points rally.

1:15 pm: Sensex has shed gains, currently only up 492 points and NIfty up 156 points.

1:07 pm: The Sensex continues to grind lower with the index now up 709 points and Nifty up 219 points.

12:40 pm: ICICI Bank, State Bank of India and Axis Bank continue to surge along with Sesa Sterlite. Sensex up 830 points, Nifty up 254 points.

12:15 pm: State Bank of India and ICICI Bank are the clear out performers today. SBI is up 7 per cent, while ICICI Bank has gained almost 8 per cent.

12: 01 pm: Sensex up 833 points, Nifty up 258 points as NDA set to rule. Banking stocks like State Bank of India, ICICI Bank and PSU banks continue to be out performers.

11:25 am: Sensex and Nifty gains are more tempered now, with the Sensex up only 776 points.

11:15 am: PSU banking stocks are on fire with Canara Bank up 14 per cent, Andhra Bank up 10 per cent and Union Bank up 11 per cent.

10:45 am: Infosys has lost a huge 5 per cent on rupee gains. HCL Tech, Tech Mahindra and Wipro are the other losers in trade.

10:20: It's all about banking and infra stocks which have seen a huge rally across the board. ICICI Bank and State Bank rally 10 per cent and 9 per cent each.

10.00 am: It's another peak for the sensex and the Nifty with the Sensex crossing 25,000 points and Nifty hitting 7500 points.

9:45 am: Sensex hits a new record of 25,000 points. Frenzied buying seen in infra stocks like GMR Infra, Gammon Infra and L&T.

9.32 am: Adani Group stocks continue to be in the limelight with Adani Power, Adani Ports and Adani Enterprises gaining in trade.

9:15 am: Sensex opens and hits a new record 24,968 points. Just 32 points shy of 25,000 points.

Story first published: Friday, May 16, 2014, 14:11 [IST]
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