Market continues to fall, Sensex down 400 points

by IANS |

Mumbai, Feb 22 (IANS) The key Indian equity indices continued its downward trend on Monday with the BSE Sensex losing around 400 points.

Around 10.20 a.m., Sensex was trading at 50,491.24, lower by 398.52 points or 0.78 per cent from its previous close of 50,889.76.

It opened at 50,910.51 and has so far touched recorded an intra-day high of 50,986.03 and a low of 50,395.48 points.

The Nifty50 on the National Stock Exchange was trading at 14,879.95, lower by 101.80 points or 0.68 per cent from its previous close.

Manish Hathiramani, Technical Analyst with Deen Dayal Investments said: "15,100-15,150 was a short-term support that the index broke last week. We saw a quick slide of almost 200 points thereafter. Our next support is at 14,800 and this would be a medium-term support for the markets."

"If we need to continue the bull streak, we should not break this level. If we do, the Nifty could slide to 14,400," he added.

The domestic stock market has been of late on a decline tracking global cues, rising bond yields in the US and profit booking by the investors.

Heavy selling pressure was witnessed in FMCG, capital goods, banking and finance stocks among others. Metal stocks however witnessed healthy buying activity.

The top gainers on the Sensex were Tata Steel, ONGC and HDFC Bank, while the major losers were L&T, M&M and NTPC.

Latest News
Pakistan: Alarm bells ring as judicial bodies gear up to protect their judges against 'targeted assault' Fri, Mar 29, 2024, 02:50 PM
Judicial probe ordered in Mukhtar Ansari's death Fri, Mar 29, 2024, 02:46 PM
Stories come knocking, characters start whispering to me: Filmmaker Rima Das Fri, Mar 29, 2024, 02:45 PM
Magisterial probe ordered into Mukhtar Ansari's death Fri, Mar 29, 2024, 12:52 PM
Delhi HC to examine Google's advertising terms for legal remedies in India Fri, Mar 29, 2024, 12:49 PM
IPL 2024: 'Focused on the ball, believed in my practice', says Parag on match-winning 84 Fri, Mar 29, 2024, 12:45 PM
Samsung, employees agree to 5.1 pc pay raise for 2024 Fri, Mar 29, 2024, 12:43 PM
South Korean Ambassador to Australia resigns amid controversy over his appointment Fri, Mar 29, 2024, 12:41 PM
Pak Foreign Office endorses Foreign Minister's proposal on resuming trade with India Fri, Mar 29, 2024, 12:24 PM
Four drones launched by Yemen's Houthis destroyed: US military Fri, Mar 29, 2024, 12:16 PM
Executive Board of Rajasthan Cricket Association Dissolved; Ad-hoc Committee Established Fri, Mar 29, 2024, 12:07 PM
Bird flu outbreak reported at Bulgarian farm Fri, Mar 29, 2024, 11:48 AM
Dimitrov ends Alcaraz' chances of 'Sunshine Double' in Miami Fri, Mar 29, 2024, 11:43 AM
World should develop the concept of Green GDP: PM Modi Fri, Mar 29, 2024, 11:42 AM
Deepfakes in a democratic country like India a big concern: PM Modi Fri, Mar 29, 2024, 11:41 AM