A maturing market amid the mayhem
Sensex slips below 15,000; Wipro drops
The BSE Sensex erased early morning gains of over 2 percent and ended 1.46 percent down on Wednesday as weak sentiments across Asia downplayed investor sentiments.
The fifty-share Nifty ended 1.57 percent down to 4398.
IT and capital goods stocks saw some heavy selling while most of the other sectors pared their early gains.
On the sectoral front, the BSE Capital Goods Index dropped 1.87 percent, followed by the Auto Index which ended 1.61 percent lower. All other indices ended the day in the red.
Wipro Ltd beat estimates with a 13 percent rise in quarterly profit but joined its bigger rivals in giving a cautious forecast due to uncertainty in the global economy.
Shares in Wipro ended 1.52 percent lower at 451 rupees on the muted outlook.
On the global front, some profit taking in European markets and a word of caution from U.S. Federal Reserve Chairman Ben Bernanke on the U.S. unemployment rate remaining high undermined consumer confidence.
Do you think the markets would fall further on fears of slowing economic recovery?