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Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

All that happened in Tuesday's session

SI Reporter  |  New Delhi 

Vinod Nair, Head of Research, Geojit Financial Services   Market faced the heat of selling pressure and finally ended below 10,000 as the Sebi's call to put restrictions on shell companies raised concern in investor’s mind. In the meantime, the metal stocks stole the show which outperformed the major indices and countered the slid to some extent.   SEBI Order: VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services   The Sebi action against shell companies is part of the government's grand design to reset Indian economy. Demonetisation, GST, the crackdown on black money, and many more measures that will follow, will ultimately lead to a cleaner, healthier and faster growing economy. This is a highly desirable and welcome move. Sintex Plastics makes a tepid debut, closes in lower circuit of 5%. READ FULL REPORT HERE  Nifty Realty index leading sectoral loser  Shares of real estate companies were under pressure with Nifty Realty index losing nearly 5% intraday. Housing Development and Infrastructure Limited (HDIL), Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each. Source: NSE Sensex heatmap at close  Source: BSE Adavance-decline ratio The market breadth depicted weakness. There were more than three losers against every gainer on BSE. 1,982 shares declined and 603 shares rose. A total of 122 shares were unchanged.

The benchmark indices extended losses for the second straight session on Tuesday as an unexpected regulatory order imposing trading restrictions on 331 listed entities identified as shell companies raised concerns about a wider probe into others. The restrictions include limiting trading in the affected companies' stocks to once a month and curbs in the trading of shares held by the promoters and directors of the companies - raising fears of additional measures from the regulator. Concerns about valuations also weighed on ...

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First Published: Tue, August 08 2017. 15:36 IST
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Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

All that happened in Tuesday's session

The benchmark indices extended losses for the second straight session on Tuesday as an unexpected regulatory order imposing trading restrictions on 331 listed entities identified as shell companies raised concerns about a wider probe into others. The restrictions include limiting trading in the affected companies' stocks to once a month and curbs in the trading of shares held by the promoters and directors of the companies - raising fears of additional measures from the regulator. Concerns about valuations also weighed on ...

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