Market tumbles amid selling pressure : The Tribune India

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Market tumbles amid selling pressure

Market tumbles amid selling pressure


Tribune News Service

Chandigarh, July 10

Retail investors, who got used to seeing their portfolio going up almost every day, were in shock as benchmark equity indices came under considerable selling pressure on Wednesday.

The BSE Sensex fell 916 points intraday, before recovering some of the losses to end at 79,924.77, down 426.87 points or 0.53 per cent. Similarly, the Nifty50 hit an intraday low of 24,141 before ending at 24,324.45, down 108.75 points or 0.45 per cent.

According to analysts, the Nifty opened flat to a positive note on Wednesday in line with global markets, but thereafter the index has witnessed profit booking and remained under pressure. Finally, Nifty settled the day on a negative note at 24,324.

The BSE MidCap and SmallCap indices declined nearly 2% each intraday.

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