Sensex falls below 9100 a day after Budget

Indian equities continued to remain under pressure as traders booked positions after non-event interim budget dampened sentiments.
Negative Asian markets also played spoil sport.

At 11:40 am, Bombay Stock Exchange’s Sensex was at 9099.37, down 206.08 points or 2.21 per cent. The index touched an intra-day low of 9079.10 and high of 9213.40.

National Stock Exchange’s Nifty was at 2788.70, down 59.80 points or 2.10 per cent. The broader index hit a low of 2780.70 and high of 2854.65.

“For today's trade, Nifty may see support around levels of 2765~2770 range on lower side while hurdle continues to exist around levels of 2890~2900 range. Indices are now at a critical juncture, as there are several factors including both domestic and global which may lead to sharp volatility in near term. Strict stop losses are absolute must for all open positions,” said Reliance Money report.

DLF (-6.57%), Mahindra & Mahindra (-4.75%), Tata Steel (-3.72%), ICICI Bank (-3.45%) and Reliance Infrastructure (-3.31%) were the top Sensex losers.

Ranbaxy Laboratories (0.34%) and ITC (0.11%) were the only index gainers.

Market breadth was negative on the BSE with 1416 declines and 516 advances.

Asian markets were down led by losses in finance and commodities. Nikkei 225 was down 1.35 per cent, Hang Seng fell 2.95 per cent, Straits Times slipped 1.49 per cent and Seoul Composite fell 4.11 per cent.

http://timesofindia.indiatimes.com/articleshow/4141752.cms

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Sensex falls below 9100 a day after Budget