Markets have seen severe cuts on Friday, with the Nifty reaching well below the 4900 mark. Capital goods, real estate, Banking stocks have all given away as global markets are also under severe pressure.
At 9:53 AM, the Nifty stands at 4866.45, down by 68 pts or -1.4%. The Sensex has lost over 208 pts.
Tata Motors, M&M, SAIL, Hindalco, Sterlite, Sesa Goa, ONGC, BHEL, TCS, Kotak Mahindra Bank, Axis Bank, PNB and ICICI Bank – are all trading with significant cuts. Market major, Reliance industries, has fallen below the 800 mark.
The CNX Midcap index is down by 1.6%.
Suzlon Energy has further lost 3%. Kingfisher airlines has tanked down by 5% again. Parsvnath developers from the real estate space has tumbled down with 20% losses. Everonn has seen a rally of 3.5% with reports that the company might be looking for PE funding.