Mumbai, March 13 (IANS) Sensex is now down almost 1,000 points in a broad based massive selloff in the markets.
BSE Sensex is trading at 72,691.46 points, down by 976.5 points or 1.33 per cent.
Deep cuts in PSU, power, infrastructure, metals, realty stocks have led to a sharp fall in the markets.
Among the Sensex losers, Powergrid is down more than 7 per cent, NTPC is down 6 per cent, Tata Steel is down more than 5 per cent.
Deep cuts are being seen across sectors. The PSU stocks index is down more than 7 per cent, utilities index is down more than 7 per cent, realty index is down more than 6 per cent, metals index is down more than 6 per cent.
This is adding to the misery in small caps which are down more than 5 per cent. Mid caps are down more than 4 per cent. SME IPO index is down more than 5 per cent.
The market breadth is very negative with 90 per cent of the stocks declining. As many as 1053 stocks have hit the lower circuit indicating the extent of the selling pressure.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said in the near-term investors should focus on the sustained weakness in the broader market, particularly the Small cap segment. The excessive valuations in these segments driven by the irrational exuberance of retail investors have been a concern for many months now. But it has taken the strong message from the regulator SEBI to trigger a correction in the Nifty Small cap index by 10 per cent from the February 8th peak.
–IANS
biz/san/uk
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
