Market Live:
Nifty extends losses, Sensex falls over 250 pts; Bank index dips 1%
Benchmark indices
opened sharply lower, following weak trend in global stocks and uncertainty
over formation of government in Karnataka.
The 30-share BSE
Sensex was down 166.25 points at 35,377.69 and the 50-share NSE Nifty
declined 54.20 points to 10,747.70.
Nifty Bank fell 184
points as PNB plunged 10 percent.
Lupin, Power Grid,
Tata Steel, Tata Motors, TCS and Tech Mahindra were early
gainers.
Titan Company,
Bajaj Finserv, ICICI Bank, Axis Bank, Cipla, HPCL and SBI were under
pressure.
Nifty Midcap was
down 83 points. Reliance Communications, Jaypee Infratech, MRPL, Shakti Pumps,
PI Industries, Syndicate Bank, Allahabad Bank, Karnataka Bank,
Bajaj Hindusthan and IDBI Bank were down up to 8 percent.
Endurance, Crompton
Consumer, Indiabulls Real Estate, Bhushan Steel, IRB Infrastructure and Ashok
Leyland gained up to 7 percent.
The Indian rupee recovered sharply after
opening 7 paise lower, trading higher by 18 paise at 67.89 against the US
dollar.
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