Real estate, PSU stocks lead slump in broader markets
The real estate index is down 4.6 percent with deep cuts in stock prices.
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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 percent with deep cuts in stock prices.
Shares of Oberoi Realty fell more than 8 percent, Lodha (8 per cent), Sobha (8 percent), and Prestige (7 percent). The PSU stocks index is down more than 3 per cent led by Railway stocks.
Shares of Ircon posted 10 percent decline, Railtel (10 percent), RVNL (8 percent), Hudco (8 percent), Andrew Yule (8 percent), RITES (7 percent), Engineers India (7 percent), IRCTC (6 percent), GIC Re (6 percent), IRFC (6 per cent), STC (6 per cent), ITI (5 per cent) and CONCOR (5 percent).
Due to the fall in many of these stocks, the broader markets have slumped.
Mid-cap index is down more than 2 percent. 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% percent. IndusInd Bank is down 4 percent, Hindustan Unilever is down 3 percent, SBI is down 3 percent, Asian Paints is down 3 percent, and Axis Bank is down 3 percent.