Sensex, Nifty Trade Flat, Even as Global Markets See Sell-off

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The Sensex and the Nifty were trading flat even as global markets saw a sell-off as economic indicators around the globe deteriorated sharply.

The Sensex was trading with marginal gains of 6 points, while the Nifty fell 2 points in early trade. Metal stocks continued to be pounded in trade with Hindalco, Jindal Steel and Sesa Sterlite among the losers in trade.

Sensex, Nifty Trade Flat, Even as Global Markets See Sell-off
Other stocks that lost ground were Larsen and Toubro and Reliance Industries. Shares in real estate major DLF rallied a huge 8 per cent on short covering and value buying. The stock had fallen as much as 26 per cent on Tuesday following a bout of huge selling pressure.

Other Nifty stocks that gained in early trade were Hero Motor Corp and Hindustan Unilever. Mid cap stocks also saw some selling pressure with GMR and India Cements among the losers.

However, L&T Finance and Unitech saw buying support.

Meanwhile, markets across Asia saw sharp drops after worries in Greece saw European markets slide.

Read more about: sensex, nifty
Story first published: Thursday, October 16, 2014, 9:29 [IST]
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