Sensex slides over 250 points, Infosys tanks over 4 percent

The benchmark indices Nifty and Sensex fell 1 percent each, with the Bank Nifty falling 1.30 percent in afternoon trades. The Nifty fell below its 20-DMA taking its worst hit since October 16.<br />

Raj Saiya December 08, 2014 14:01:40 IST
Sensex slides over 250 points, Infosys tanks over 4 percent

The benchmark indices Nifty and Sensex fell 1 percent each, with the Bank Nifty falling 1.30 percent in afternoon trades. The Nifty fell below its 20-DMA taking its worst hit since October 16.

The market, which was consolidating during morning trade, started to fall just before noon. IT and metal stocks lead the declines in both Nifty and Sensex.

Infosys (-4.6%) was the top loser in trade as its founders cut their stake in the co, other losers were Jindal Steel (-3.2%), HCL Tech (-3.1%), Ambuja Cements (-2.9%)

At 1:45 pm, the Nifty advance-decline ratio stood at 1:3.

Coal India, ITC, Bharti Airtel, UltraTech Cement were the top gainers on the Nifty.

The broader markets were mirroring the benchmark indices with the S&P BSE Mid-cap and S&P BSE Small-cap falling 1 percent each.

CCL International, India Hotels, Sobha Developers, Bajaj Corp were the top losers on the mid-cap index falling 9 to 5.2 percent while HMT, Jet Airways, Sulabh Engineers and Zydus Wellness were the top gainers.

Hit by Infosys, CNX IT (-3.1 percent) was the top sectoral losers followed by BSE Capital Good, Bank Nifty, BSE Power, and BSE Realty

On the flip side, BSE FMCG was the only sectoral gainer on the BSE.

At 1:45 pm the Rupee was trading at 61.93 to the US Dollar.

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