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Markets take a sharp dip on heavy selling

SI Reporter  |  Mumbai 

The are witnessing heavy selling in the last 15-20 odd minutes. The Sensex is now down nearly 200 points at 17,628. The NSE Nifty has plunged 53 points to 5,270.


(Updated at 1330pm)

The have squandered the opportunity provided by a conducive global and domestic environment. Strength across the global bourses and the lower-than expected rise in inflation have failed to arrest the gradual decline through the day. The Sensex is now hovering around its intra-day lows of 17813, lower by eight points, and the Nifty is at 5325, up two points. The mid-cap and small-cap indices are, however, higher by about half a per cent each at 7088 and 9140 respectively.

Reliance Industries is the top loser on the BSE, having weakened by 1.1% at Rs 1107. SBI has shed 1.1% at Rs 2068 and ICICI Bank has lost 1% at Rs 932. L&T and HDFC are the other significant losers.

On the other hand, Reliance Infra has added 2.1% at Rs 1141, Jaiprakash Associates has gained 2% at Rs 152 and DLF is up 1.8% at Rs 341.

The market breadth is positive, out of 2,906 shares traded on the BSE, there are 1,634 advancing stocks as against 1146 declines.

First Published: Thu, April 15 2010. 15:08 IST