Market decline, infra, PSU shares fell

Small cap stocks are witnessing a decline amid widespread selling pressure in the market. Infrastructure and PSU stocks are also facing selling pressure in the weak market. Both indexes are down more than 3 percent. BSE Sensex is trading at 71,427.47 points with a decline of 169.55 points or 0.23 percent.

BSE Small Cap Index fell more than 2 percent. Among the biggest falling stocks, Ramki Infrastructure is down 18 per cent, Andhra Petrochemicals is down 14 per cent, Amber Enterprises is down 11 per cent, Nahar Polyfilms is down 10 per cent, Hariom Pipes is down 10 per cent and Dhunseri Ventures is down 9 per cent.

PSU shares fell more, with the index falling more than 3 per cent. SJVN down 17%, Mishra 10%, ITDC 10%, HUDCO 9%, NBCC 9%, IRFC 9%, NHPC 9%, Hemisphere Properties 8%, RVNL 7%, New India Assurance 7%, MOIL 7%, NLC India is down 7 percent and IRCON is down 7 percent.

V.K., chief investment strategist at Geojit Financial Services. Vijayakumar said that it is a good sign for the market after S&P 500 closed above 5000 for the first time. But US bond yields (10-year 4.17 per cent) indicate that FIIs may sell.