he Sensex, after opening marginally in green, has slipped almost 100 points to 19,264. Nifty is down 35 points at 5,816

Markets have slumped suddenly on selling pressure in select sectors. The Sensex, after opening marginally in green, has slipped almost 100 points to 19,264. Nifty is down 35 points at 5,816.

Asian markets are down as well. Hang Seng has slipped 0.7% at 22,396. Nikkei however is holding on to gains – up 0.6% at 12,319.

Broader markets have slipped half a per cent each. BSE mid-cap index is down 37 points at 6,357. Small-cap index is down 34 points at 6,203.

All the sectoral indices have slipped into red.

Consumer Durables Index is the top loser among the sectoral indices on the BSE for the third straight session, down over 1% at 6,831, after high inflation for the past few months has led to lower spends on consumer durables.

Banking and financial shares are down after higher-than-expected industrial growth in January and retail inflation remaining in double digits for the third straight month diminished hopes of a rate cut by the central bank. Bankex, auto and metal indices are the key losers this morning – down 0.5-1% each. Capital goods shares are trading lower after recent data showed contraction in industrial output.

Source: Business Standard

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