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New Delhi: After opening in the green, on Wednesday, the share market India has slipped into the red zone. As of 11:00 AM, Sensex was down 257 points and was trading at 57,884. Nifty50, on the other hand, fell below 17,300. SBI, L&T and ICICI Bank were the top losers in Nifty.
In Sensex, L&T, SBI and ICICI Bank were the top losers. Bank stocks have been shaky after the CBI has taken over the ABG Shipyard Scam. ICICI Bank and SBI are two of the worst-hit banks by the scam.
Apart from these, Nifty FMCG was also declining. Radico, Britannia and Dabur were the top losers, as of 11 AM. However, Proctor ad Gamble shares were nearing 52-week high levels.
Today, the shares of Vedant Fashions IPO were listed at a premium of 8 per cent. Since listing, the shares have been showing good performance, staying in the green territory. As of 11 AM, Vedant Fashions share price was Rs 939 per equity share, 3 per cent more than the listing price.
The tensions between Russia and Ukraine had reached their zenith a couple of days ago. But according to media reports, Russia has pulled back some troops from the Ukrainian border, easing the markets. On the backdrop of this, the share markets in India rallied yesterday rising over 1,700 points.
However, US officials have recently said that they have not noticed any visible change in the troop size. It remains to be seen how the situation will turn out.
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