 "Sensex slips ahead of Jackson Hole, but pulls back a bit")
Selling pressure has intensified. At 1500 IST, the Sensex slipped further to 15,785 and extended its losses to more than 350 points.
Skittish investors are feeling rather directionless, as they wait for Fed Chairman Ben Bernanke’s speech later on Friday. Reports said there are also growing fears that Indian equities could slip next week if the Fed fails to announce a new set of easing measures.
[caption id=“attachment_70393” align=“alignleft” width=“380” caption=“The realty and metal indices were the worst hit: both of them have shed close to 4 percent. ReutersReuters”]
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Anil Dhirubhai group companies - Reliance Infra, Reliance Communications and Reliance Capital - were the biggest losers on the NSE, losing a hefty 9-12 percent after the Supreme Court issued a notice to the Central Bureau of Investigation on the bail pleas of three top executives of the group, arrested for their alleged involvement in the 2G spectrum scam.
Investors dumped stocks of Jaiprakash Associates, DLF and Tata Steel, Maruti Suzuki and Reliance, all of which have lost more than 5 percent.
Metals and realty stocks continue to bear the brunt, with the respective indices losing close to 4 percent.