Markets Remain Under Pressure: Tata Motors, Tata Steel Shares Plunge

Posted By: Religare
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The key domestic benchmark indices continued to trade in red in the afternoon trading session on Friday on account of sustained selling by funds and retail investors amid weak cues from the Asian markets, as EU referendum decisively favoured 'leave' campaign.

Markets Remain Under Pressure: Tata Motors, Tata Steel Shares Plunge
Tata Motors: Quotes, News
BSE 420.25BSE Quote1.3 (0.31%)
NSE 419.25NSE Quote2.65 (0.63%)

Also, market sentiments remained down beat with India Meteorological Department"s report that the monsoon rains in India were 4 per cent below average in the week ending June 22, 2016, narrowing the deficit since the season started on June 8.

At 01:10 PM, the Bombay Stock Exchange bellwether Sensex was at 26109.16 down by 893.06 points or by 3.31 per cent, while the NSE Nifty was at 7973.2 points, trading lower by 297.25 points or by 3.59 per cent.

The BSE Sensex touched an intraday high of 26367.48 and an intraday low of 25911.33 while the NSE Nifty touched an intraday high of 8058.45 and an intraday low of 7927.05.

Meanwhile, Tata Motors Ltd. (Rs. 435.00,-10.86 per cent), Tata Steel Ltd. (Rs. 304.50,-8.76 per cent), ICICI Bank Ltd. (Rs. 226.95,-5.77 per cent), Larsen & Toubro Ltd. (Rs. 1424.45,-4.87 per cent), Axis Bank Ltd. (Rs. 501.25,-4.80 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2527 shares traded, 316 shares advanced, 2086 shares declined while 125 were unchanged.

On the global front, Asian stocks were trading lower today as results from the UK's referendum on its European Union membership, dubbed "Brexit", showed the country had voted to leave the trading bloc.

Read more about: sensex, nifty
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