Markets have seen a dip, taking the Nifty well below the 5200 level. Stocks from the metal and banking sectors have seen sharp cuts, driving the indices lower. The Asian markets had witnessed a sharp session in the red during the trade on Thursday.
AT 10:22 AM, the Nifty stands at 5175, down by 45 pts or -0.9%.
Tata steel is the top loser with a cut of over 4.2%. The stock has witnessed cuts in the wake of disappointing results that were announced. Hindalco, from the same pack, has seen a cut of 3.3%. SAIL is down by 2.2%. Sterlite is down by 1.8%. JSW Steel is down by 2.8%.
ICICI Bank has also dropped by 4%. The stock is currently trading at 828.50, after losing 33 rupees from the previous close. PSU Banking major SBI is down by over 1.8%. This stock had seen a severe hammering during Wednesday’s trading session. PNB is down by 1.3%.
Hero Motors (HEROMOTOCO) is however trading in the green with 1.7%
gains. M&M is also in the green.