Taking Stock: Sensex, Nifty at eight-month low in broad-based selling, IT and metal shares weigh
Benchmark indices extended their fall for a fifth session in a row on February 24, taking the Nifty 50 to the lowest level in last eight months, led by selling in IT, Realty and Telecom ***** close, the Sensex was down 856.65 points or 1.14 percent at 74,454.41, and the Nifty was down 242.55 points or 1.06 percent at 22,553.35. Nifty Mid and Smallcap indices shed 1 percent ***** weak global markets, the indices opened on a negative note and extended the losses to drag the Nifty 50 near 22,500. However, the trading session saw some recovery, led by auto, pharma, FMCG ***** Nifty losers were Wipro, HCL Technologies, Infosys, TCS, Tata Steel, while gainers included M&M, Eicher Motors, Dr Reddy's Labs, Hero MotoCorp and Kotak Mahindra ***** auto, pharma, FMCG, all other sectoral indices ended in the red with IT, metal, telecom indices down 2 percent. Nifty IT index has now fallen for 11 out of last 12 sessions.
Nearly 280 stocks touched their 52-week low on the BSE, including AIA Engineering, Sanitaryware, Welspun Living, Ratnamani Metal, Fine Organics, Timken, Relaxo Footwear, Grindwell Norton, Cello World, Carborundum Universal, Mahindra Life, Star Health, Latent View, Tanla Platforms,