For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Sensex, Nifty drop as global fears re-surface

|
Sensex, Nifty drop as global fears re-surface
The Sensex and the Nifty ended the day sharply lower on renewed global worries including political crisis in Portugal, QE in the US and weak Chinese data.
 

The Nifty shed 86.65 points to end the day at 5770 points, even as the rupee once again scaled passed the 60 mark against the dollar with ease.

Among the top losers in trade today from the Nifty pack were high beta names including those from the infra and the metals pack.

Stocks that saw maximum price erosion were Jaiprakash Associates, Bank of Baroda, Punjab National Bank, IDFC and Tata Power.

Defensive stocks showed resilience with Hindustan Unilever and ITC ending the day flat. Technology stocks did not fall sharply thanks to a drop in the value of the rupee.

PSU banking stocks were the worst hit in trade today with most of the stocks from the sector taking a hit of 4-7 per cent. Bank of India, Bank of Baroda, Canara Bank, IDBI Bank and Oriental Bank were the worst.

Realty stocks were the other space that was hit badly in trade. Among the stocks that declined were HDIL, Indiabulls and Unitech. Shares in Tata Global Beverages gained in trade after an upgrade from Morgan Stanley.

GVK Power on the other hand lost ground after reports that the Airports Economic Regulatory Authority (AERA) has turned down the company's proposal to hike user development fee (UDF) at Bangalore airport.

Meanwhile, markets in Europe were trading sharply lower following fresh worries over the Euro crisis, due top political turmoil in Portugal.

GoodReturns.in

Read more about: sensex nifty
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more