Home / Business / Money / Sensex tumbles 209 pts; tech stocks firm, BHEL tanks 4%

Sensex tumbles 209 pts; tech stocks firm, BHEL tanks 4%

Mar 20, 2015, 05.22 PM IST | Source: Moneycontrol.com

Technology stocks held strong in a weak market day. Wipro, Infosys and TCS were up 1-3 percent each. Coal India and HDFC Bank were other gainers.

Like this story, share it with millions of investors on M3

Sensex tumbles 209 pts; tech stocks firm, BHEL tanks 4%

Technology stocks held strong in a weak market day. Wipro, Infosys and TCS were up 1-3 percent each. Coal India and HDFC Bank were other gainers.

17:00

The News International Team

It was another disastrous session on Dalal Street as the day was marked by volatility yet again, with the key indices going into a tailspin. The Sensex ended down 208.59 points or 0.7 percent at 28261.08 and the Nifty slipped 63.75 points or 0.7 percent at 8570.90. About 758 shares advanced, 2115 shares declined and 169 shares were unchanged.

The sell-off in Indian equities is likely to continue and the Nifty may decline some 20 percent and test 8000 levels, believes market expert Dhiraj Agarwal. “When market stops reacting positively to good news that is usually a sign that all the good news is priced in,” he told CNBC-TV18 in an interview.

Technology stocks held strong in a weak market day. Wipro, Infosys and TCS were up 1-3 percent each. Coal India and HDFC Bank were other gainers.

Except IT index, others ended in red. Capital Goods, Auto, Healthcare, FMCG and Realty suffered the most. NTPC lost over 6 percent while BHEL, ICICI Bank, GAIL and M&M were among laggards. The worst hit was the midcap index which lost about a percent and a half.

India could raise Rs 22574 crore  from the sale of stakes in four state-run firms including ONGC and National Aluminium (NALCO). The cabinet has already approved the sale of 5 percent stakes in ONGC and BHEL, and 10 percent each in NALCO and NMDC, Minister of State for Finance Jayant Sinha said.

On the global front, the euro nudged towards its best week in 18 months while yields on low-rated bonds fell as investors welcomed the Fed’s cautious approach to raising interest rates and a reform pledge from Athens that could avert a cash crunch.

Illustrating the problems low inflation is causing for central banks looking to normalise monetary policy in the likes of the United States and Britain, oil was set to rack up its third weekly price slump.

Greek bond yields opened 18 basis points lower at 12.10 percent, while Portuguese, Spanish and Italian equivalents were all down around 1-2 basis points German bonds – the euro zone benchmark – were flat at 0.19 percent, just above a record low.

15:00

Sensex, Nifty end lower; NTPC tanks 6%, BHEL falls 4%

Wipro, Infosys, Hindalco, HDFC and TCS are top gainers while NTPC, BHEL, GAIL, M&M and ICICI Bank are major losers.

Read More »

13:00

Sensex, Nifty continue to fall; Auto, FMCG index in redRead More »

NTPC, BHEL, ICICI Bank, HUL, BPCL and GAIL are major losers in the Sensex. Among the gainers are Wipro, Infosys, Coal India, HDFC, Cairn India, Hindalco and IndusInd Bank.

Read More »

12:00

Sensex, Nifty still weak; IT stocks gain, Coal India upRead More »

IT stocks are on buyer’s radar while Coal India and Bharti Airtel are top gainers in the Sensex. Among the losers are NTPC, GAIL, ICICI Bank, HUL and Tata Motors.

Read More »

11:00

Nifty hovers around 8600; NTPC tanks 7%, GAIL & BHEL slipRead More »

NTPC drags 7 percent while GAIL is down 3 percent. BHEL, ICICI Bank and Tata Motors are top losers in the Sensex. Among top gainers are Wipro, Infosys, HDFC, Sun Pharma and Dr Reddy’s Labs.

Read More »

10:00

Sensex, Nifty sluggish; Sun Pharma, Bharti, Wipro gainersRead More »

Sun Pharma, Bharti Airtel, Wipro, Dr Reddy’s Labs and Infosys are top gainers in the Sensex. NTPC, GAIL, BHEL, Tata Motors, Axis Bank are among losers in the Sensex.

Read More »

09:15

Sensex, Nifty under pressure on weak global cuesRead More »

Wipro, Sun Pharma, Tata Power, Coal India, Cipla, Lupin and Dr Reddy’s Labs gained 0.5-1 percent. However, NTPC tanked 7 percent as it is ex-date for bonus issue for debenture holders.

Read More »

RELATED NEWS

  • Sensex, Nifty end lower; NTPC tanks 6%, BHEL falls 4%
  • Sensex, Nifty continue to fall; Auto, FMCG index in red
READ MORE ON  BSE, Sensex, Nse, market, Nifty, BHEL, NTPC, HUL, Wipro, TCS
Previous Here are few investment ideas for tax saving purpose
Next Hike in FSI premium, ready reckoner rates negative: HDIL

  • Vikram Bakshi offers to buyout McDonalds’ 50% stake in JV

  • NPR, not Aadhaar, best tool for cash transfer: BJP’s Sinha

  • Rajan calls LPG cap hike `misdirected subsidy’

  • Google says it’s not liable to pay any taxes in India

  • ‘Long-term hold on India with positive bias; buy on dips’

  • QIP may’ve got better response if launched week later: SBI

  • Coal becomes commodities’ first victim of EM woes

  • Flat banking transaction tax: What it means for economy

  • Growth, investment at risk from emerging markets rate hikes

  • Provisions to go up if bad loans not resolved: RBI to banks

  • Marico Q3 net up 33% to Rs 135cr, volume growth slows to 3%

  • Satya Nadella: Hyderabad man tipped to become Microsoft CEO

  • Syndicate Bank Q3 profit slips 25%, asset quality stable

  • Neyveli Lignite hopes to maintain high production ahead

  • SpiceJet extends 30% discount offer

  • SC ruling on forest land: Which realtors will gain

  • SKS Microfinance up 7%, completes 5th securitisation deal

  • PNB Q3 net falls 42% to Rs 755 cr but asset quality better

  • QIP may’ve got better response if launched week later: SBI

  • FAA downgrades India’s aviation safety ranking

video of the day

Budget 2015-16: Revive capex through savings on cheap crude says Kotak Sec

news videos

  • Union Budget 2015: Need to see basket of reforms, not 1 or 2 steps, says Lim

  • Union Budget 2015: Won’t be surprised if FII flows increases now, says Narain

  • Union Budget 2015: Expanding tax base must be a focus area, says Religare

  • Union Budget 2015: Fiscal deficit will be a key number to watch, says Envision

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...