Fall in manufacturing data in US, Europe and China dented investor sentiment across the globe. The benchmark Sensex shed 200 points in trade today with rate sensitives like banking, realty and capital goods taking a beating.
The 50-share NSE Nifty hit the 5450 level on downside -- trading at 5,455, down 62 points while the 30-share BSE Sensex fell 202 points to 18,112 late morning trade.
Manifestly global events would be the decisive factor for the markets for next few months.
Technology stocks were under pressure because slowdown will definitely have impact on exports of these companies. Infosys, TCS and Wipro were down between 1% & 2%.
Heavyweights Bharti Airtel, ITC, L&T, SBI, ICICI Bank and HDFC Bank slipped between 1% & 2%. Reliance Industries slipped over 0.5%.
However, Sun Pharma, NTPC, HUL, Cipla, Ranbaxy and GAIL were only gainers on Nifty..
On the global front, Asian markets extended losses - Kospi was the major loser, falling 2.4%. Shanghai, Nikkei, Straits Times and Taiwan were down 1-1.7%. Hang Seng was down 0.7%.
The Institute for Supply Management's Purchasing Managers' Index (ISM Manufacturing Index) for July fell to 50.9 from 55.3 in June while the market expected at 54. Ecen China's PMI Manufacturing Index for July dipped to 50.7 from 50.9 in June.
Same was the case with Euro zone, wherein manufacturing PMI fell to 50.4 in July from 52 in June - its worst showing since September 2009
The 50-share NSE Nifty hit the 5450 level on downside -- trading at 5,455, down 62 points while the 30-share BSE Sensex fell 202 points to 18,112 late morning trade.
Manifestly global events would be the decisive factor for the markets for next few months.
Technology stocks were under pressure because slowdown will definitely have impact on exports of these companies. Infosys, TCS and Wipro were down between 1% & 2%.
Heavyweights Bharti Airtel, ITC, L&T, SBI, ICICI Bank and HDFC Bank slipped between 1% & 2%. Reliance Industries slipped over 0.5%.
However, Sun Pharma, NTPC, HUL, Cipla, Ranbaxy and GAIL were only gainers on Nifty..
On the global front, Asian markets extended losses - Kospi was the major loser, falling 2.4%. Shanghai, Nikkei, Straits Times and Taiwan were down 1-1.7%. Hang Seng was down 0.7%.
The Institute for Supply Management's Purchasing Managers' Index (ISM Manufacturing Index) for July fell to 50.9 from 55.3 in June while the market expected at 54. Ecen China's PMI Manufacturing Index for July dipped to 50.7 from 50.9 in June.
Same was the case with Euro zone, wherein manufacturing PMI fell to 50.4 in July from 52 in June - its worst showing since September 2009
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