Equity Alert: Mkt down 2% but off lows; realty shares worst hit
MUMBAI--10:10AM--Share indices were down over 2%, but off lows
touched at
open, tracking the sharp fall in overseas markets on worries about the
ongoing
global financial crisis, dealers said.
"There has been some buying at lower levels and short covering,
which is why
market has recovered a bit," said a dealer. Shares had fallen nearly
4% at open.
Sensex was at 13213.44, down 317.83 points, or 2.4%. Nifty was
below the
4000-mark at 3983.65, down 89.25 points, or 2.2%.
Real estate shares continued their slide from the previous
session, with
Unitech down nearly 7% after hitting a new 52-week low of 131 rupees.
The stock
was the worst hit on Nifty.
CNX Midcap and S&P CNX 500 indices also fell nearly 3% each.
Reliance Industries was down 2% after it, too, touched a fresh 52-
week low
of 1,800 rupees.
Punjab National Bank recouped losses, rising 1%, while Bharat
Petroleum Corp
gained 0.4% as oil traded below $92 a barrel on NYMEX. Hero Honda
Motors, up 1%,
was the top Nifty gainer.
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