The market is trading on the back foot as the cues from the global markets are in favor. A record loss at insurer American International Group Inc. has triggered the fears of recession in US. This led to the heavy selling across all the sectoral indices. The market breadth is weak as 1797 stocks are trading in red while 505 stocks are trading in green.
At 11.32AM, BSE Sensex is trading lower by 527 points at 17,052 and NSE Nifty is trading down by 163 points at 5,061
Losers from the BSE are India Infoline trading down by 6.70% at Rs1042.20 in line with BOI by (6.16%) at Rs337.40, BHEL by (5.96%) at Rs2146, Kotak Bnak by (5.91%) at Rs754, Union bank by (5.84%) at Rs174.80, Titan Inds by (5.82%) at Rs1033.75 and Tata Power by (5.50%) at Rs1324.
The Metal index is trading lower by 412.21 points at 16,327.31. Pulling it are Jindal Steel trading down by (4.37%) at Rs2204 along with SAIL by (4.13%) at Rs244.90, Gujarat NRE by (3.64%) at Rs151, JSW Steel (2.97%) at Rs1030, Bhushan Steel by (2.54%) at Rs1002.10, Sterlite Inds by (1.95%) at Rs821 and Tata Steel by (1.69%) at Rs788.
Maruti Suzuki is trading higher by (4.26%) at Rs905 as the company has reported a growth of 1.3% in vehicle sales to 63,822 vehicles for the month of February 2007 as against 62,999 units in February 2007. The company''s exports during the month rose by 15.5% to 4,511 units as against 3,904 units in the same month last year. Also the company announced a reduction of a price cut after the finance minister''s proposal to cut excise duty by 4%. The company reduced prices on all he six models and the price reduction ranges from Rs6,500 for Maruti 800, Rs18,030 for Swift Diesel.
HUL is trading up by (1.75%) at Rs232 as the finance minister proposes a 2% cut in excise on all manufactured goods. The minister also proposes an 8% excise duty reduction on specific packaging material used for soaps, detergents and toothpastes.
At 11.32AM, BSE Sensex is trading lower by 527 points at 17,052 and NSE Nifty is trading down by 163 points at 5,061
Losers from the BSE are India Infoline trading down by 6.70% at Rs1042.20 in line with BOI by (6.16%) at Rs337.40, BHEL by (5.96%) at Rs2146, Kotak Bnak by (5.91%) at Rs754, Union bank by (5.84%) at Rs174.80, Titan Inds by (5.82%) at Rs1033.75 and Tata Power by (5.50%) at Rs1324.
The Metal index is trading lower by 412.21 points at 16,327.31. Pulling it are Jindal Steel trading down by (4.37%) at Rs2204 along with SAIL by (4.13%) at Rs244.90, Gujarat NRE by (3.64%) at Rs151, JSW Steel (2.97%) at Rs1030, Bhushan Steel by (2.54%) at Rs1002.10, Sterlite Inds by (1.95%) at Rs821 and Tata Steel by (1.69%) at Rs788.
Maruti Suzuki is trading higher by (4.26%) at Rs905 as the company has reported a growth of 1.3% in vehicle sales to 63,822 vehicles for the month of February 2007 as against 62,999 units in February 2007. The company''s exports during the month rose by 15.5% to 4,511 units as against 3,904 units in the same month last year. Also the company announced a reduction of a price cut after the finance minister''s proposal to cut excise duty by 4%. The company reduced prices on all he six models and the price reduction ranges from Rs6,500 for Maruti 800, Rs18,030 for Swift Diesel.
HUL is trading up by (1.75%) at Rs232 as the finance minister proposes a 2% cut in excise on all manufactured goods. The minister also proposes an 8% excise duty reduction on specific packaging material used for soaps, detergents and toothpastes.
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