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Nifty grinds below 5400. L&T, Tata Motors swivel down

Markets have seen heavy selling, with the Nifty being dragged below the 5400 mark. The global markets have also been seeing selling pressures, with the US markets closing down with heavy cuts. The Dow Jones industrials declined more than 265 points Wednesday, their worst day in more than two months, and closed below 12,000 for the first time since June 24.

At 11:25 AM, the Nifty is at 5394, down by 62 pts or -1.2%.

Infrastructure stocks have seen the brunt again. L&T is down by over 3% at 1679. Punj lloyd is down by 1.3%. Reliance Infra is down by 0.9%.

Auto stocks are also seeing selling pressure. Tata Motors is down by over 3%.

Real estate major DLF is down by over 3.5%. Unitech is down by 2.3%

Reliance Capital, Tata steel, JP Associates, RCOM – have all seen cuts nearing to 2%.

Index Heavy weight RIL is down by 0.8%.

ICICI bank is down by 2.3% and is trading below the 1000 mark.


 

 

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