At 14:52 hours IST - equity benchmarks broke key psychological levels today - the Sensex breached the 19,000-mark and the Nifty was trading well below 5700 level, which was the strong support, say experts. The markets have reported total turnover of Rs 1.83 lakh crore, including F&O volume of 1.71 lakh crore. K Anant Rao, Kurtosis Analytics & Advisors says, 5,700 to 5,750 range has been visited at least five times now, in the last 40 odd days. “The higher the frequency of this range getting visited, the greater the odds of eventually this range breaking down,” he adds.
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All sectoral indices were in red. The BSE Auto, Realty, Bank, Metal and Oil & Gas indices lost 2% each. Oil & Gas and Power fell one percent each.
The 30-share BSE Sensex was trading at 18,917, with loss of 265 points and the 50-share NSE Nifty plunged 84 points to 5,667. However, broader indices did not fall like benchmarks; BSE Midcap and Smallcap indices declined just 62 points each.
Among largecaps, Tata Motors, Bajaj Auto, HDFC Bank, Maruti Suzuki, L&T, SAIL and Axis Bank plunged 2.5-6%. Heavyweights ONGC, Reliance Industries, ICICI Bank, BHEL and SBI were down 0.8-1.7%.
However, Wipro, Jindal Steel, Power Grid Corp, HCL Tech and Ranbaxy Labs gained 1-2.5%.
In midcap space, KGN Industries, Indian Metals, Gujarat Gas, WABCO-TVS and Petronet LNG rallied 2.5-5% while BOC India, Sobha Developer, Sadbhav Engg, Kingfisher Airline and Rashtriya Chemical lost 4.4-8%.
In smallcap space, Tata Coffee was locked at 20% upper circuit as company signed MoU agreement with Starbucks for strategic alliance in India.
Simplex Project, Insecticides India, Arshiya Intl and Sterling Holiday rose 6% while Modern India, Zee Learn, Rollatainers, ZF Steering Gea and Spectacle Info slipped 5-6.4%
