Home / Market Beat / Markets ease out as global peers decline. Nifty tests below 5150

Markets ease out as global peers decline. Nifty tests below 5150

Markets witnessed a sharp opening in the red, as the global bourses are all trading in the red zone. Concerns of economic stability have again sprung up, as Spain was announced to slip into recession again. The economic data arising out of UK was also not so encouraging, which led the European markets to close in red on Wednesday. The US markets also saw a decline with the Crude easing out.

At 9:53 AM, the Nifty has slipped by 38 points and is trading at 5157, down by 0.8%. It has slipped below the 200 day moving average, causing concerns to traders.

Banking and IT stocks continue to top the losers list. The Bank Nifty has declined by 0.8%. ICICI Bank is down by 0.8%. SBI is down by 0.5%. HDFC Bank has also seen a cut of 0.8%.

IT major Infosys is down by 2.4%.
L&T is down by 1.4%. So is Maruti, from the auto space. Tata motors is down by 0.5%.

Reliance Infra has moved down by 1.2%. Bharti Airtel is down by 1.8%.

Powergrid, Hindalco, RCOM, TCS have all seen declines of over 1%.

CNX Midcap index is down by 0.8%.

However IVRCL Infra is trading in the green with 2.7% gains. Educomp solutions and Titan Industries are also trading in the green.


 

 

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