The market remained under pressure following Asian weakness triggered by sell off in Chinese market that lost 5.9 percent (at close). The Sensex fell 418.34 points or 1.48 percent to 27753.35 and the Nifty slipped 128.60 points or 1.51 percent to 8382.20 amidst high volumes. Cash market volumes exceeded Rs 13,000 crore.
The BSE Midcap and Smallcap indices declined 1 percent each. About 782 shares have advanced, 1816 shares declined, and 136 shares are unchanged on the Bombay Stock Exchange. Shanghai rallied 150 percent in a year before falling 30 percent in last one month. Chinese regulator said markets are in panic mode. In a unprecedented move, more than 40 percent of listed companies voluntarily suspended trading of their shares in the first ten minutes of trade.
Vedanta topped the selling list, down 8 percent followed by Tata Motors, Tata Steel, Hindalco Industries and HDFC with 3-6 percent loss. However, HUL bucked the trend, up 1 percent as media report indicated that company and Gillette reached settlement over registration of 7 O’ Clock trademark.
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