Nifty drops to two-week low; Cipla, Coal India

Posted on Feb 13 2014 - 11:46pm by IBC News

Mumbai, Feb 13 The benchmark index CNX Nifty today tumbled sharply and hit nearly two weeks low on across- the-board selling on the National Stock Exchange (NSE) fuelled by economic concerns, dismal earnings and weak global cues.

However, despite an 83-point drop, the 50-share index managed to hold on to the important 6000-level. Banking, FMCG, pharma, energy and metal shares led the fall.

Renewed macro worries, reflected in contraction of industrial output data in December, triggered the sell-off.

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