Indian Markets came under heavy selling pressure on weak global cues - ZEN Money

Domestic indices opened the session on a negative note following weak global cues. Weakening rupee also dented market sentiment, however, some support was witnessed from FM's optimistic statement for more reforms in the second half of the year. Markets came under further pressure after US Federal Reserve chairman, hinted at exiting Federal Reserve's exceptionally loose monetary policy. Weakening rupee and worries over potentially early end to US monetary stimulus kept the market deep in the red. Due to persistent selling witnessed in front line blue chip counters and global sell off recorded in Asian and European markets, indices have ended the day with heavy losses.

On a sectoral front, all the sectors in the indices are traded in red. Realty and Capital Goods sectors witnessed heavy selling pressure followed by Power and Banking sectors. Oil & Gas, Consumer Durables, Metal, Auto and Health Care sectors also witnessed selling pressure. FMCG and IT sectors have ended the day with marginal losses.

Source : Equity Bulls

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