India: Markets react sharply: Sensex, Nifty down
The benchmark indices have extended losses further, as banking, oil & gas, telecom, capital goods, power, FMCG and select metal stocks are under pressure. However, only few stocks like DLF, Unitech, Tata Motors, Grasim and M&M are in the green.
The Nifty futures discount has widened to 15 points from 5 points post speech. Total Stock futures started shedding OI (Alert: it has added nearly 20 crore shares since expiry).
The Nifty broke 2900 mark, hit a low of 2891.80 and is hovering around that mark. It was trading at 2,901, down 46 points and the Sensex was at 9,476, down 158 points, at 11:16 hours IST. However, among broader indices, BSE Midcap is flat while Small cap index gained 0.7%.
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