MUMBAI: The markets on Thursday witnessed selling pressure across the board. Below expectation result of Infosys dampened the sentiments. Banks, technology and pharmaceutical stocks further dragged the markets in the negative zone.
At 3.30 pm, Bombay Stock Exchange benchmark Sensex was down 338.75 points at 19195.35 and National Stock Exchange index Nifty was down 105.65 points at 5757.60.
The markets continued to be in the negative zone. At 2.10 pm, Sensex was down 310 points to be at 19223.31. Nifty also slipped 107.50 points to be at 5755.75.
All sectoral indices were in red. SBI, ICICI Bank, HDFC Bank, PNB and Axis Bank plunged 3-3.5%.
At 11.55 pm, the Sensex was in the negative zone. It was down 36.45 points down at 19497.65. Nifty was also in the red. It was down 12.50 points at 5850.75.
In the opening session, Sensex slipped by nearly 117 points, as IT stocks suffered setback after the industry bellwether Infosys Technologies posted third quarter earnings lower than the market expectations.
The 30-share barometer, which had gained 337.76 points in the previous session, declined by 116.95 points at 19,417.15 points.
Similarly, Nifty declined by 32.15 points to 5,831.10 level.
Brokers said market turned bearish after Infosys Technologies declared lower-than-expected third quarter earnings, triggering massive selling of IT companies shares.
However, they said, firming trend in global markets restricted losses on the domestic bourses here.
Infosys Technologies on Thursday reported 14.17 per cent growth in its consolidated net profit at Rs 1,780 crore for the third quarter ended December 31, 2010.
The company share was trading at Rs 3257.65, which was down by over three per cent since its closing price Wednesday.
Meanwhile, in other markets in Asia, Japan's Nikkei was 0.56 per cent up while Hong Kong's Hang Seng index rose by 0.71 per cent in the morning trade today.
In the US, Dow Jones Industrial Average ended 0.72 per cent higher in Wednesday's trade.
Read more: Sensex slips by over over 300 points - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-slips-by-over-over-300-points/articleshow/7274285.cms#ixzz1Aubwzu5y
At 3.30 pm, Bombay Stock Exchange benchmark Sensex was down 338.75 points at 19195.35 and National Stock Exchange index Nifty was down 105.65 points at 5757.60.
The markets continued to be in the negative zone. At 2.10 pm, Sensex was down 310 points to be at 19223.31. Nifty also slipped 107.50 points to be at 5755.75.
All sectoral indices were in red. SBI, ICICI Bank, HDFC Bank, PNB and Axis Bank plunged 3-3.5%.
At 11.55 pm, the Sensex was in the negative zone. It was down 36.45 points down at 19497.65. Nifty was also in the red. It was down 12.50 points at 5850.75.
In the opening session, Sensex slipped by nearly 117 points, as IT stocks suffered setback after the industry bellwether Infosys Technologies posted third quarter earnings lower than the market expectations.
The 30-share barometer, which had gained 337.76 points in the previous session, declined by 116.95 points at 19,417.15 points.
Similarly, Nifty declined by 32.15 points to 5,831.10 level.
Brokers said market turned bearish after Infosys Technologies declared lower-than-expected third quarter earnings, triggering massive selling of IT companies shares.
However, they said, firming trend in global markets restricted losses on the domestic bourses here.
Infosys Technologies on Thursday reported 14.17 per cent growth in its consolidated net profit at Rs 1,780 crore for the third quarter ended December 31, 2010.
The company share was trading at Rs 3257.65, which was down by over three per cent since its closing price Wednesday.
Meanwhile, in other markets in Asia, Japan's Nikkei was 0.56 per cent up while Hong Kong's Hang Seng index rose by 0.71 per cent in the morning trade today.
In the US, Dow Jones Industrial Average ended 0.72 per cent higher in Wednesday's trade.
Read more: Sensex slips by over over 300 points - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-slips-by-over-over-300-points/articleshow/7274285.cms#ixzz1Aubwzu5y
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