Selling pressure re-emerges in equities. Sensex down 110.90, Nifty down 36.
Selling pressure in equities was back on Thursday with the BSE Sensex falling over 100 points and the Nifty slipping below the key 5,900 mark in afternoon trade. Heavy selling in blue chips, on account of index movements and third quarter earnings, weighed on sentiments.
Maruti Suzuki shares were down 3.5 per cent on exclusion from the MSCI World index, which is closely tracked by passive funds. Tata Motors shares were down 2.94 per cent ahead of reporting Q3 numbers.
IT major Wipro & Siemens have been excluded from the Nifty benchmark with effect from April 1. Wipro traded with 3.5 per cent cut on account of Nifty exclusion. Siemens lost nearly 5 per cent. Their replacements — NMDC and IndusInd Bank — advanced.
Reliance Communications, along with other telcos such as Bharti Airtel, traded with deep cuts.
State Bank of India shares declined 2.13 per cent after India’s biggest lender reported 4 per cent rise in quarterly profit, its lowest rise in last one year. Non-performing assets rose, weighing down on sentiments.
Only 17 stocks traded higher on the Nifty led by HDFC Bank, HUL and Tata Power. They traded with over 1 per cent gains.