It was a very disappointing day for markets as things took a turn for the worse. The cuts deepened through the day and key technical levels got breached. A more than 100 points shave-off on the Sensex and more than 350 points gash on the Nifty resulted in the Nifty close below 4,850 and the Sensex slip below 16500 levels today. The markets witnessed their biggest single-day fall since August 17.
Hawkish statements from the credit policy created nervousness in the interest rate sensitives. The real estate space got badgered today with Unitech and DLF down 7-8% post hiking of real estate provisions, while banks went home with biggest loses with State Bank of India and ICICI Bank down 4-6% post the tightening of non-performing asset norms.
Hawkish statements from the credit policy created nervousness in the interest rate sensitives. The real estate space got badgered today with Unitech and DLF down 7-8% post hiking of real estate provisions, while banks went home with biggest loses with State Bank of India and ICICI Bank down 4-6% post the tightening of non-performing asset norms.