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Midsession: Sensex drops 2% in choppy trade

Midsession: Sensex drops 2% in choppy trade
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First Published: Thu, May 21 2009. 02 18 PM IST
Updated: Thu, May 21 2009. 02 18 PM IST
New Delhi: Markets fell more than 2% in afternoon trade on Thursday after turning positive briefly, as investors resumed taking profits following a 17.5% jump earlier this week.
At 2:21pm, the 30-share BSE index was down 2% at 13,789 points, with 24 stocks declining and the 50-share NSE index was down 0.9% at 4,233 points.
Sectors like realty, consumer durables, oil & gas and metal are in demand whereas the capital goods, auto, banking and IT stocks are witnessing some selling pressure.
The 30-share BSE index is now trading below the 14,000 mark and the 50-share NSE Nifty around the 4,300 mark.
At 12:36pm, BSE was at 13,994.93 down by 65.73 points while the NSE Nifty was at 4,300.20 up by 29.90 points.
Investors may act further cautious as India’s Inflation data for the week ended 9 May has risen to 0.61% compared with 0.48% in the previous week.
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First Published: Thu, May 21 2009. 02 18 PM IST
More Topics: Markets | BSE | NSE | Sensex | Money |