The market today opens in deep red on the back of sharp negative cues from the global markets. The heavy selling emerged across the board in the morning trade. The Capital Goods, Bank, Metal and Oil & Gas stocks are in huge pressure from the opening bell. However, the auto stocks are managed to trade marginally higher. The overall market breadth is negative as 418 stocks are advancing whereas 1,484 stocks are declining on BSE.
At 10.32AM, the BSE Sensex was down by 432.01 points at 17,146.71 and the Nifty was down by 137.25 points to 5,086.25.The BSE Mid Cap decreased by 146.79 points to 7,533.60 and the BSE Small Cap slipped by 180.35 points to 9,447.78.
ITC reported the top gainer from the BSE Sensex pack. It was up by (1.76%) at Rs.205.55 while Wipro reported the top loser declined by (2.12%) at Rs.437.
BSE Bank index dropped by 370.78 points to trade at 9,742.95. The top losers are SBI declined by (5.30%) to Rs.2,000, PNB decreased by (4.64%) at Rs.575 followed by ICICI Bank and HDFC Bank down by (4.22%) and (3.02%) to Rs.1,043 and Rs.1,413 respectively.
BSE Capital Goods index slipped by 439.23 points to trade at 15,680.29. The major losers are ABB, BHEL, Siemens and L&T fell by (4.50%), (4.02%), (3.06%) and (2.81%) to Rs.1,103, Rs.2,195, Rs.792 and Rs.3,422 respectively.
SAIL advanced by (1.19%) to Rs.256. The company is planning to expand its capacity in an attempt to keep pace with rising demand and global competition. The company will raise its production of hot metal to 26.2mn tonnes per annum by 2010-11 from the current capacity of 14.6mn tonnes. The total estimated cost will be Rs.540bn.
At 10.32AM, the BSE Sensex was down by 432.01 points at 17,146.71 and the Nifty was down by 137.25 points to 5,086.25.The BSE Mid Cap decreased by 146.79 points to 7,533.60 and the BSE Small Cap slipped by 180.35 points to 9,447.78.
ITC reported the top gainer from the BSE Sensex pack. It was up by (1.76%) at Rs.205.55 while Wipro reported the top loser declined by (2.12%) at Rs.437.
BSE Bank index dropped by 370.78 points to trade at 9,742.95. The top losers are SBI declined by (5.30%) to Rs.2,000, PNB decreased by (4.64%) at Rs.575 followed by ICICI Bank and HDFC Bank down by (4.22%) and (3.02%) to Rs.1,043 and Rs.1,413 respectively.
BSE Capital Goods index slipped by 439.23 points to trade at 15,680.29. The major losers are ABB, BHEL, Siemens and L&T fell by (4.50%), (4.02%), (3.06%) and (2.81%) to Rs.1,103, Rs.2,195, Rs.792 and Rs.3,422 respectively.
SAIL advanced by (1.19%) to Rs.256. The company is planning to expand its capacity in an attempt to keep pace with rising demand and global competition. The company will raise its production of hot metal to 26.2mn tonnes per annum by 2010-11 from the current capacity of 14.6mn tonnes. The total estimated cost will be Rs.540bn.
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