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Sensex, Nifty Slide Again As Global Cues Remain Weak
The Sensex and the Nifty fell in trade as global cues remained weak with the Sensex falling below the 50 day moving average.
The Sensex was down 78 points, while the Nifty fell 20 points in early trade. TCS led losers on the Nifty after the company predicted a weak quarter for the period ending Dec 31, 2014.
Banking stocks saw some buying interest with Kotak Mahindra Bank, Bank of India and Punjab National Bank among the gainers.
Midcap stocks continued to see selling pressure with notable losers from the space being Bharat Forge, Jain Irrigation and Voltas.
GMR Infra was down despite reports that Hyderabad International Airport buys 44.61 per cent stake in MAS GMR Aerospace Engg from Malaysia Aerospace Engg.
Siemens was trading higher after the company won orders from the Bihar Grid. Cairn India continued to slide and the stock hit a new 52-week low of Rs 236 on the National Stock Exchange.
Real estate stocks which have been exhibiting a bullish trend in the last few days were trading with marginal losses.
Meanwhile, markets in Asia were trading with losses, with the Japanese Nikkei trading with losses of over one per cent.
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