Markets Accelerate Losses; Realty Tumbles

The Indian markets slid further in the afternoon trading session today over a heavy selling pressure witnessed in Realty and Consumer Durables. The Small-Cap index is under pressure on the bourses with the BSE Small-Cap index hitting a 52-week low today. The Nifty is trading down by 52 points at 5615 and Sensex is trading at 18,632, down by 146 points. Both the indices are trading lower by 0.78%-096%.

The advance–decline ratio is extremely negative this afternoon. On the NSE, 974 shares are trading in red and 240 shares are trading in green.

Top 5 Nifty Gainers: Tata Power is trading as the top gainer in the afternoon trading session, up by 1.23%, followed by Lupin, ITC, Sun Pharma and Bank of Baroda.

Top 5 Nifty Losers: Jai Prakash Associates is trading as the top Nifty loser, down by 8.15%, followed by DLF, Ranbaxy Labs, GAIL and Kotak Bank.

All the sectors are trading in red. Realty, Consumer Durables and Capital Goods are the top losers, trading lower by more than 3%. 

On the global front, the Asian shares slid over China’s worries. China’s Shanghai Composite is trading lower by 4.76%, followed by Hang Seng, Nikkei 225 and Straits Times.

Buzzers: Ranbaxy Laboratories has dipped by more than 4% to Rs 332 over reports that the company’s manufacturing facility at Mohali has come under the USFDA’s scanner. The stock has touched its 3-year low today.

Fresenius Kabi Oncology has surged more than 11% over heavy volumes in this sluggish market after reports suggested that the Securities Appellate Tribunal (SAT) has directed the SEBI to allow the delisting of the company’s shares from the exchanges.

Nifty is hovering around the 5600 mark. If we break this support level, we can touch the level of 5550-5500.