Stock Market News:

Sensex, Nifty volatile; pharma, consumer durables stocks slip :

The market continues to languish in red on the back of unabated selling pressure across all the sectors. At 12:30 PM, the Nifty is down 54 points at 8,221. The Sensex is down 108 points at 27,330. The CNX Smallcap index has plunged 2.7 percent at 5,377. The CNX Midcap index has tumbled 1.6 percent at 14,456. The Nifty Junior has dropped 1.2 percent at 18,932. The Volatility index - India VIX - has jumped 1.3 percent at 19.3600. Sectorwise, the CNX Realty index has slumped 2.3 percent. The CNX PSU Bank and the CNX Pharma indices have plunged 2 percent each. The CNX Auto and the CNX FMCG indices have shed 0.6-0.8 percent. The CNX IT index is down 0.5 percent. On the other hand, the CNX Infra index is the only gainer - up 0.2 percent. The market breadth remains negative in the early noon deals. Out of 1,720 stocks have traded on the NSE - 1,239 stocks have declined, while only 235 stocks have advanced. So far, only eight stocks have hit 52-week high on the NSE counter, whereas 38 stocks have hit 52-week low. Adlabs Entertainment, Balrampur Chini Mills, Dhampur Sugar Mills, GMDC, Indiabulls Real Estate, Jain Irrigation Associates and Jaiprakash Associates are among the prominent losers.

Alliance Research