Monday, March 17, 2008

Market Opens With A Deep Cut.

The market today opens sharply lower backed by the negative cues from the global markets. The heavy selling witnessed across the board mainly led by the Metal, Capital Goods, Bank and Realty stocks. The broader market is also trading in line with the benchmark index with a deep cut.The overall market breadth is negative as 413 stocks are advancing whereas 1472 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 to 18 March 2008.

Jai Prakash Associates reported the top loser from the BSE Sensex pack. It was down by 9.31% at Rs.214.25 followed by HDFC fell by 8.71% to Rs.2,284.50.

At 10.30AM, the BSE Sensex was down by 739 points at 15,022 and the Nifty was down by 207.45 points to 4,538.35. The BSE Mid Cap decreased by 290 points to 6,293 and the BSE Small Cap dropped by 324 points to 7,756.

BSE Capital Goods index slipped by 536.64 points to trade at 13,043.30. The top losers are BHEL declined by (4.89%) to Rs.1,789, Siemens decreased by (4.65%) at Rs.636 followed by ABB and L&T down by (3.97%) and (3.96%) to Rs.1,089 and Rs.2,792 respectively.

BSE Metal index dropped by 738.83 points to trade at 14,106.04. The major losers are Tata Steel, Hindalco Industries, SAIL and NALCO fell by (6.01%), (5.49%), (5.45%) and (4.77%) to Rs.872, Rs.172, Rs.191 and Rs.439 respectively.

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