Sensex, Nifty Slump; Media Witness Sharp Selling


The key benchmark indices slumped in trade today, in spite of favorable global markets, but the lack of positive stimulus from the govt. On Closing, the BSE Sensex closed at 36093.47 down by 470 points, while the NSE Nifty slipped 135 points at 10704.80.

Yes Bank, Zee Ent, IndiaBulls Housing, IndusInd Bank and Tata Steel were the stocks dragging the Nifty lower. On the other hand, major gains were led by TataMotors, Coal India, HDFC Bank, UPL and BhartiAirtel.

All of the eleven sectoral indices on the NSE turned lower, with considerable fall in Media, banking, realty, metal, IT and Auto stocks.

The Nifty Media index was the top falling index, down by 4.36% led by Dish TV (down 8.6%) Zee Entertainment (down 7.83%) and Den Network (down 4.97%) as major losers.

Oil marketing companies (OMC) shares have also witnessed their declines, since crude continued its upward rally. The Nifty energy index declined 1.43% at 14,281.95, dragged by Reliance Infra (-3.87%), ONGC (-1.97%), HPCL (-1.71%), IOC (-1.56%) and BPCL (-0.82%) as losers.

IIFL Wealth Management made its first appearance on Indian markets Today. The stock which listed at Rs.1210 on the NSE (BSE at Rs.1200) closed higher at Rs.1270.50, up by 5% each on the NSE.

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