Capproin Report On Stocks

With several front line stocks from across various sectors still reeling under pressure, the market looks headed for a dismal close today.

After seeing some listless movements in the first couple of hours, the market plunged sharply after the Reserve Bank of India announced a 25 basis points hike in the repo rate. Bank stocks led the fall, and stocks from realty, capital goods, metal and automobile sectors were among the other big losers.

Though the market staged a recovery of sorts an hour past noon, lack of support at higher levels pushed down stock prices once again, and the Sensex is now down 444 points or 2.15% at 20.202.64. The Nifty index of the National Stock Exchange is at 5991.50, down 124.05 points or 2.02% from its previous close.

Most of the markets in the Asia-Pacific region closed on a weak note today, and markets in Europe are also mostly subdued, due to lack of triggers.

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