INSUBCONTINENT EXCLUSIVE:
Stock markets retreated from record highs on Wednesday, with the BSE Sensex falling 146 points
The markets fell after a no-confidence motion was moved against Prime Minister Narendra Modi's government in Parliament
Metal and auto stocks witnessed a selloff that dragged the key indices lower
Twenty eight stocks on the 50-scrip Nifty index finished with losses
Top laggards included Tata Steel, Hindalco Industries, Vedanta and Tata Motors - ending between 2.5 per cent and 5.3 per cent lower.Metal
stocks and consumer stocks took a hit with Tata Steel plunging 5.3 per cent and Hindustan Unilever falling 2.1 per cent.Midcap and smallcap
stocks, which had pushed the markets higher in recent sessions, fell with the BSE sub-indices declining 1 per cent each
The Nifty Mid cap 50 index dropped 1.7 per cent."Investors are pulling out money from mid-cap stocks as they are worried about the earnings
So, they are putting money in good (large-cap) companies even if the valuations are expensive," news agency Reuters cited Kotak Securities
Bank and Corporation Bank rose in early trading on reports that the government will infuse Rs 11,336 crore ($1.66 billion) in five state-run
PNB finished 4.3 per cent lower
Advances in the stocks came after reports that ONGC has authorised government to sell its 49 per cent stake in helicopter service provider
