Market Watch

Thursday, 29 May 2014

Afternoon Trade: Metal and Mining Stocks Decline

Metal and mining stocks declined. Markets continue to trade lower on the back of selling pressure visible in the IT stocks. Profit booking ahead of May F&O expiry contract is also visible on the Dalal Street. The market sentiment was also hit adversely by data showing that foreign funds were net sellers of Indian stocks on Wednesday.
Key benchmark indices extended intraday fall and hit fresh intraday low in afternoon trade.
The BSE benchmark index- Sensex was down 157 points at 24,398 and the 50-share Nifty slipped 37 points to 7,292 levels.
Bucking the trend, NTPCBSE 1.16 %, Tata PowerBSE 0.98 %, Dr Reddy's Labs, State Bank of IndiaBSE 0.90 % and Axis BankBSE 0.61 % were among the gainers on the Sensex up 1-1.7 per cent each.
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