New Delhi, India (BBN)-The BSE benchmark index, Sensex fell below 27,000 in the morning deals on Thursday on the back of broad-based selling pressure visible across ahead of April derivatives contract expiry due today.
The 50-share Nifty broke its important psychological level of 8,200 led by losses in heavyweights such as HDFC, ICICI Bank, TCS and Infosys, reports NDTV.
The Indian markets had been facing the heat of selling pressure since quite some time now.
The Sensex has fallen over 1,800 points in the last nine trading sessions while the Nifty is down 900 points (10 per cent) from its peak in March 2015.
Analysts expect the Nifty to head below levels of 8,000 going ahead.
Selling pressure was visible across the board.
IT, pharma, power and capital goods stocks were among the worst hit in the morning trades.
The BSE IT index fell 1.6 per cent. Frontline IT stocks like TCS, Wipro, Infosys, HCL Technologies and Tech Mahindra were leading the losses on Nifty, down 1-2 per cent each.
Pharma stocks also faced the heat of selling pressure. Dr Reddy’s Labs was the top Nifty loser, down 2.3 per cent to Rs 3,303.
Sun Pharma and Cipla also fell over 1 per cent each.
The mid-cap and small-cap stocks also succumbed to the selling pressure and both the indices were down 1 per cent each.
At 9:42 am, the Sensex was down 289 points at 26,937 and the Nifty fell 87 points to 8,152 levels.
Story first published on: April 30, 2015 09:27 (IST)
BBN/SK/AD-30Apr15-10:40am (BST)