Business
Infra, PSU shares lead market losses

New Delhi, Feb 12
Small cap shares are down on Monday amid broad based selling pressure in the markets.
Infrastructure and PSU shares are also facing selling pressure in a weak market. Both the indices are down more than 3 per cent. BSE Sensex is down trading at 71,299.95 points down by 295.54 points or 0.41 per cent.
BSE Small Cap index is down more than 2 per cent. The top losers are Ramky Infrastructure down by 18 per cent, Andhra Petrochemicals down by 14 per cent, Amber Enterprises down by 11 per cent, Nahar Polyfilms down by 10 per cent, Hariom Pipe down by 10 per cent, Dhunseri Ventures down 9 per cent.
PSU shares are down sharply with the index falling more than 3 per cent. SJVN is down 17 per cent, Mishra Dhatu is down 10 per cent, ITDC is down 10 per cent, HUDCO is down 9 per cent, NBCC is down 9 per cent, IRFC is down 9 per cent, NHPC is down 9 per cent, Hemisphere Properties is down 8 per cent, RVNL is down 7 per cent, New India Assurance is down 7 per cent, MOIL is down 7 per cent, NLC India is down 7 per cent, IRCON is down 7 per cent.
V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services said with S&P 500 closing above 5000 for the first time, support from the mother market augurs well for the bulls. But the bears are likely to take cues from the rising US bond yields (10-year yield is at 4.17 per cent) which normally triggers big selling from FIIs. So the tug of war between the bulls and the bears is likely to continue.
However, the frothy valuations of the broader market are a matter of concern. From the long-term perspective, safety is in large-caps, he said.

3 hours ago
US tariff threat on EU 'absolutely unacceptable': Danish FM

5 hours ago
'Had a great time, thanks': US VP Vance responds to Gavin Newsom's criticism of his family trip to Disneyland

5 hours ago
US: Ganapathy Sachchidananda Swamiji leads global Bhagavad Gita festival in Dallas with 10,000 participants

7 hours ago
Deeply disturbed': Naveen Patnaik on reports of eggs hurled at Ratha Jatra devotees in Toronto; urges Odisha Govt, MEA to act

8 hours ago
Indian astronaut Shubhanshu Shukla undocks from ISS, begins journey back home

8 hours ago
As astronaut Shubhanshu Shukla heads home, political class celebrates the proud moment

8 hours ago
US: Devastating fire strikes assisted living facility in Massachusetts

10 hours ago
Prayers from ancient Hindu scriptures to open Corpus Christi City Council in Texas

10 hours ago
Diljit Dosanjh flashes a smile and waves at paparazzi in his first public appearance after ‘Sardaar Ji 3’ row

10 hours ago
Madhoo says ‘stress management equals time management’

10 hours ago
Smriti Irani offers prayers on first Sawan Somvar ahead of Kyunki Saas Bhi Kabhi Bahu Thi’ comeback

10 hours ago
First look of ‘The Revolutionaries’ builds anticipation for India’s fierce fight against British imperial power

10 hours ago
Isha Koppikar: Didn’t know it was okay to say ‘I’m not okay’