Sensex continues downward slide, Nifty realty dips 6.2 pc

Mumbai: Equity benchmark indices were in the negative zone during early hours on Thursday in line with global cues as uncertainty continued over the chance of global fiscal stimulus.

At 10:15 am, the BSE S&P Sensex was down by 129 points at 36,932 while the Nifty 50 edged lower by 46 points to 10,873.

At the National Stock Exchange, all sectoral indices were in the red except for FMCG. Nifty realty plunged by 6.3 percent.

Among auto stocks, realty major DLF plummeted 17.5 percent to Rs 141.35 per share. Oberoi Realty was down 4.3 percent while Indiabulls Housing Finance suffered a bruising fall of 7.8 percent to Rs 445.80 per share and Yes Bank lost by 4.2 percent.

The other prominent losers were Bajaj Finserv, Vedanta, Adani Ports, and JSW Steel which lost over 2 percent each. Hindalco, Zee Entertainment, IndusInd Bank and Bajaj Finance too were in the red.

But FMCG major Britannia gained by 2.6 percent. Dr. Reddy’s, ITC, Bharti Infratel, and Hindustan Lever showed marginal gains.

Meanwhile, Asian shares went flat as uncertainty continued over the outlook for US interest rates and the global fiscal stimulus.

MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.2 percent in very light volumes. Japan’s Nikkei was down by 0.05 percent and the Shanghai Composite Index slipped 0.18 percent. Hong Kong’s Hang Seng too lost by 0.8 percent.