Tuesday 29 September 2015

Sensex Falls Over 250 Points; Banking, Pharma Stocks Drag

Posted by suhani varma on Tuesday, September 29, 2015 with No comments

The S&P BSE Sensex is trading at 25,348 down 269 points, while NSE Nifty is trading at 7714 down 82 points. The BSE Mid-cap Index is trading down 1.04% at 10,463 whereas BSE Small-cap Index is trading down 0.81% at 10,828.

All sector are showing weakness on BSE. Infosys is the only gainer, whereas GAIL, TCS, Vedanta, ICICI Bank, Tata Steel, Hindalco, Cairn, Lupin and Bharti Airtel are losing sheen on BSE. The US indices – Dow, Nasdaq and S&P have produced what is technically called a death cross pattern at the same time. This pattern was last seen on Aug 24, 2011 and in the last 35 years; such a pattern has been witnessed only 13 times. The Nasdaq was down 3%, S&P 500 fell over 2% and Dow Jones fell 1.92%. Asian markets are also bleeding.

Larsen & Toubro Infotech Limited, a subsidiary of Larsen & Toubro Limited, has filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) in order to undertake an initial public offering of its equity shares.

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