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Real estate, PSU stocks lead slump in broader markets
Real estate and PSU stocks are the biggest losers in trade on Tuesday as the BSE Sensex slumped below the 71k mark.
New Delhi: Real estate and PSU stocks are the biggest losers in trade on Tuesday as the BSE Sensex slumped below the 71k mark.
The real estate index is down 4.6 per cent with deep cuts in stock prices. Sahres of Oberoi Realty fell more than 8 per cent, Lodha (8 per cent), Sobha (8 per cent), Prestige (7 per cent).
The PSU stocks index is down more than 3 per cent led by Railway stocks. Sahres of Ircon posted 10 per cent decline , Railtel (10 per cent), RVNL (8 per cent), Hudco (8 per cent), Andrew Yule (8 per cent), RITES (7 per cent), Engineers India (7 per cent), IRCTC (6 per cent), GIC Re (6 per cent), IRFC (6 per cent), STC (6 per cent), ITI (5 per cent) and CONCOR (5 per cent).
Due to the fall in many of these stocks, the broader markets have slumped. Mid cap index is down more than 2 per cent.
BSE Sensex has now slumped more than 600 points on Tuesday with banks leading the fall.
BSE Sensex is trading at 70,726.54 points by 697.11 points or 0.98% per cent.
Indusind Bank is down 4 per cent, Hindustan Unilever is down 3 per cent, SBI is down 3 per cent, Asian Paints is down 3 per cent, Axis Bank is down 3 per cent.
