The market today opens flat backed by the weak cues from the global markets. The significant selling pressure witnessed in the broader market today, as a result the Mid Cap and Small Cap are trading lower. The heavy selling is seen in the Bank and Consumer Durables stocks. However, strong buying witnessed in the Metal, Capital Goods and Oil & Gas stocks.The overall market breadth is negative as 654 stocks are advancing whereas 1,208 stocks are declining on BSE.
The market will remain closed from 11:45 IST to 12:25 IST due to sun outage. Trading time has been extended till 16:15 IST. The changes in timings will be applicable from today to 18 March 2008.
At 10.32AM, the BSE Sensex was up by 102.44 points at 16,442.33 and the Nifty was up by 34.45 points to 4,898.70.The BSE Mid Cap increased by 5.56 points to 7,187.79 while the BSE Small Cap slipped by 51.30 points to 8,901.98.
Infosys Technologies reported the top gainer from the BSE Sensex pack. It was up by (3.53%) at Rs.1,470 while ICICI Bank reported the top loser declined by (3.89%) at Rs.933.80.
BSE Metal index advanced by 155.66 points to trade at 15,989.24. The top gainers are Hindalco Industries inclined by (2%) to Rs.204, Tata Steel increased by (1.93%) at Rs.793 followed by SAIL up by (0.87%) to Rs.231.
BSE Bank index slipped by 166.03 points to trade at 8,890.73. The major losers are ICICI Bank, HDFC Bank, PNB and SBI fell by (3.40%), (0.89%), (0.39%) and (0.32%) to Rs.938, Rs.1,340, Rs.516 and Rs.1,870 respectively.
ICICI Bank is trading lower by (3.89%) at Rs.933.80. The bank has announced a mark to market hit of Rs.263 million in its loans and investment exposure due to the US subprime crisis. The bank lost money due to depreciation in the value of securities it bought in the international markets. Due to a rise in global interest rates after the subprime loan crisis, the value of these securities fell, forcing the bank to provide for the difference from its profits.
The market will remain closed from 11:45 IST to 12:25 IST due to sun outage. Trading time has been extended till 16:15 IST. The changes in timings will be applicable from today to 18 March 2008.
At 10.32AM, the BSE Sensex was up by 102.44 points at 16,442.33 and the Nifty was up by 34.45 points to 4,898.70.The BSE Mid Cap increased by 5.56 points to 7,187.79 while the BSE Small Cap slipped by 51.30 points to 8,901.98.
Infosys Technologies reported the top gainer from the BSE Sensex pack. It was up by (3.53%) at Rs.1,470 while ICICI Bank reported the top loser declined by (3.89%) at Rs.933.80.
BSE Metal index advanced by 155.66 points to trade at 15,989.24. The top gainers are Hindalco Industries inclined by (2%) to Rs.204, Tata Steel increased by (1.93%) at Rs.793 followed by SAIL up by (0.87%) to Rs.231.
BSE Bank index slipped by 166.03 points to trade at 8,890.73. The major losers are ICICI Bank, HDFC Bank, PNB and SBI fell by (3.40%), (0.89%), (0.39%) and (0.32%) to Rs.938, Rs.1,340, Rs.516 and Rs.1,870 respectively.
ICICI Bank is trading lower by (3.89%) at Rs.933.80. The bank has announced a mark to market hit of Rs.263 million in its loans and investment exposure due to the US subprime crisis. The bank lost money due to depreciation in the value of securities it bought in the international markets. Due to a rise in global interest rates after the subprime loan crisis, the value of these securities fell, forcing the bank to provide for the difference from its profits.
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