Sharemasterindia.com: 11:29 a.m.: Sensex falls over 250 points to 26,929, Nifty down 80 points at 8,156.
11:19 a.m.: Sell off picks up pace; realty stocks fall, the BSE realty index a gauge of realty stocks down nearly 3 per cent. Unitech, HDIL,Oberoi Realty, IndiaBulls Real Estate and Anant Raj Industries among top losers.
11:05 a.m.: Sensex comes a bit off the intraday low levels on the back some amount of buying seen in metal stocks. The Sensex was down 142 points at 27,046 and Nifty down 50 points at 8,186.
11:00 a.m. BHEL shares see gains, a day after the company said that it had bagged its largest ever order.
10.47 a.m. After a little pullback, the Sensex is down 190 points again. Nifty is trading at 8,173. 38 stocks are trading lower on Nifty led by Tata Motors, which is down 4.55 per cent. ITC is down 3.4 per cent, while Ambuja Cements is trading 2.2 per cent lower. Nestle continues to be under severe selling pressure, down 8 per cent at Rs 6,276 now. Meaningful Nifty gainers include Coal India, up 2.2 per cent, and Wipro, up 1.4 per cent.
10.25 a.m. Sensex falls over 200 points, slips below 27,000; Nifty down 70 points, nears 8,150. Sensex is trading below 27,000 for first time since May 14, 2015.
10 a.m.: Selling pressure has gathered pace on the Dalal Street. The Sensex, down by over 150 points, hit a day low 27,006 and looks set to breach the psychological mark. The Nifty is trading firmly below the key 8,200 level after falling over 50 points.
09. 40 a.m.: What are experts saying on Nestle: Gaurang Shah says Nestle should be "avoidable" as of now as the problem is going to multiply. Rajat Bose says there is substantial downside in Nestle as the stock looks set to breach its 200-day exponential moving average.
09.37 a.m.Nestle is the BIG stock to focus today. The stock fell 10 per cent in early trade, it's now down 4.52 per cent at Rs 6,499.90. Losses in Nestle also led to selling in other FMCG stocks such as ITC and HUL.
09.15 a.m. The BSE benchmark Sensex fell over 100 points in the opening deals on the back of selling in FMCG, banking, auto and oil & gas stocks. The 50-share Nifty fell below its psychological level of 8,200 led by losses in ITC, GAIL India, ICICI Bank, Punjab National Bank, Yes Bank and HUL. Banking shares fell for the second straight day after Tuesday's interest rate cut. The Bank Nifty fell 1 per cent shares such as State Bank of India, ICICI Bank, Yes Bank, Punjab National Bank and IndusInd Bank were among the leading losers on the Nifty.
09.00 a.m.Experts' take:
Rajat Bose, technical analyst, say Nifty broke the 200-day simple moving average of 8,339 yesterday, which doesn't augur well for markets. The 200-day exponential moving average of 8,211 is important. According to Mr Bose, things are looking murky and there is a possibility that the Nifty will test 8,050-7,995. Mr Bose expects the psychological 8,000 to be tested on the downside considering the breakdown in Bank Nifty.
Gaurang Shah of Geojit BNP Paribas is a little more optimistic. He thinks this is the fantastic time to build portfolio. He expects markets to trade in a range with a negative bias of the next 2-3 months. There is pressure and there are no more triggers, things to look forward include the onset of monsoon and monsoon session of Parliament, he added.
08: 45 a.m. Take a look at top brokerage calls for today - Maruti Suzuki, Emami and United Spirits (Click here)
08: 40 a.m. Funds on Tuesday: Foreign investors sold a net of Rs 594 crore in equity markets, while domestic institutional investors bought a net of Rs 272 crore.
08:30 a.m. The BSE Sensex and Nifty are set to open lower according to Nifty futures trading on Singapore Exchange. The SGX Nifty was down 0.29 per cent or 24 points at 8,204 levels.
Stocks in news: State Bank of India, which reduced its base rates by 15 basis points yesterday; ITC will go ex-dividend today; Nestle because of controversy around Maggi noodles, which contributes nearly 20 per cent to its revenue.
08.00 a.m. The BSE Sensex crashed 661 points on Tuesday, while the Nifty ended at 8,326 after shedding nearly 200 points. The huge selloff has suddenly changed the dynamics in domestic stock markets. More analysts have turned bearish in their outlook now it seems. Find out why Sensex crashed 700 points yesterday.
What's happening across global equity markets? Asia shares slipped early on Wednesday as widespread spike in debt yields dented the allure of risky assets. Japan's Nikkei lost 0.6 per cent while Australian shares shed 0.5 per cent. Overnight, US stocks edged down, while the dollar fell and bond yields rose as investors sought clarity on Greece's debt crisis and awaited the US jobs report.
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