Market Fatafat: Sensex plunges over 300 points; Check out 15 stocks in news today
New Delhi: Indian shares continue to fall for the six straight day on Wednesday as subdued corporate results and caution ahead of the general election outcome weighed on indices. Losses in the market were led by index-heavyweight Reliance Industry which fell over 2.5%.
As of 1:50 pm, indices were off intraday lows tracking positive opening in the European market. The Sensex was down 223 points or 0.58% at 38,053 while the Nifty index was lower by 67 points at Rs 11,431.25. Zee Entertainment was the top loser in Nifty, down 4.2% followed by Vedanta, Sun Pharma and Tata Motors.
Zee Entertainment: The stock continues to fall today. Management of the company said that its stake sale process is moving steadily. But it has no impact on the counter. The stock is down nearly 10% today.
Voltas: The stock has breached its key support level of Rs 600. Kunal Bothra says the stock can correct till Rs 565 level.
JSW Steel: Despite the massive fall in markets, the stock is up nearly half a per cent. Domestic brokerage Sharekhan says the stock is moving near its support range of Rs 285-Rs 284. The brokerage says if the stock manages to close above this support level then it can move towards Rs 302 level in the near term.
Vodafone Idea: The stock is in a downtrend from both short term and medium term, says Sharekhan. In the near term it can move towards Rs 13.50 level, the brokerage said.
Escorts: Management expects weakness to continue in the tractor segment for Q1 of current fiscal as well. It sees 5-8% growth in the tractor industry in Q1.
RCF: The company reported a strong set of numbers for the March quarter. Its Q4 revenue jumped 15.6% while its net profit surged 64.4% annually.
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