Indian market continues to slide further on global slowdown concerns. Domestic market opened lower as Asian markets plunged due to questions on the effectiveness of the US bailout package. BSE Sensex slipped below 13,000 mark first time since 17th July 2008 and now trading below 13,700 along with NSE Nifty trading below 3,900 level. All indices are trading in red and among those, major contributors to the selling pressure are Bank, Metal, Capital Goods, Reality, Consumer Durables and IT stocks. BSE Mid Cap and Small Cap stocks are also out of favor as trading with deep cut of more than 4%. Among the Sensex pack, 29 stocks are trading in red and only 1 is in green.
At 1.31PM, the BSE Sensex is trading lower by 467.02 points at 12,635 and NSE Nifty is down by 129 points at 3,856.
The BSE Mid Cap and Small cap are trading lower by 224 points and 292 points at 4,716.56 and 5,569.72 respectively.
Losers from the BSE are ICICI Bank Ltd down by (11.68%) at Rs495.70 along with JP Associates (11.19%) at Rs107.50, DLF Ltd (8.25%) at Rs339.00, Ranbaxy Lab (7.23%) at Rs252.70, Satyam Computer (6.94%) at Rs299.60, Tata Motors (5.33%) at Rs353.40 and TCS Ltd by (4.73%) at Rs644.45.
Only gainer from the BSE is HUL trading up by (1.86%) at Rs257.20.
The BSE Capital Goods index is trading lower by 453.46 points at Rs10,341.73. Major losers are Walchand In (10.22%) at Rs207.30 followed by Jyoti Struct (10.16%) at Rs88.00, Usha Martin by (9.65%) at Rs51.00, Reliance industrial Infra (8.84%) at Rs594.05 and Suzlon Energy by (8.84%) at Rs594.05.
The BSE Bank index is losing 435.60 points at Rs6,134.94. Scrips trading lower are ICICI Bank Ltd (11.68%) at Rs495.70 followed by IOB by (10.86%) at Rs87.40, Oriental Bank of Commerce (10.12%) at Rs143.50, Union Bank (6.98%) at Rs133.90 and Yes Bank by (6.86at Rs116.00.
The BSE Metal index is trading down by 363.98 points at Rs9,138.11 as Welspan Gujarat Sr is trading lower by (9.96%) at Rs221.05 along with Jindal Saw (8.87%) at Rs558.40, JSW SL (7.69%) at Rs527.90, Sterlite Indus by (5.03%) at Rs456.00 and Tata Steel (4.55%) at Rs361.80.
From the telecommunication sector, Idea Cellular is trading lower by (5.58%) at Rs73.60 along with Reliance Com Ltd is trading down by (3.27%) at Rs335.50, Bharti Airtel by (3.20%) at Rs751.20 and Tata Communications by (0.13%) at Rs470.25.
In auto sector Hero Honda Motors is higher by (0.65%) at Rs855.00. However, Tata Motors is down by (5.51%) at Rs253.90, Maruti Suzuki lower by (3.39%) at Rs660.85 and M&M Ltd by (2.90%) at Rs516.20.
From cement sector by Ambuja Cements is trading down by (5.15%) at Rs78.20, followed by ACC Ltd trading lower by (3.94%) at Rs589.50 and Grasim Indus is down by (2.56%) at Rs1,715.00.
ICICI Bank is trading down by (11.68%) at Rs495.70 as bank crashes due to losses on exposure. The fall of the Lehman Brothers has caused ICICI Bank a MTM loss of Rs.309cr. As per the company sources the London subsidiary of ICICI Bank had $80 million exposure in the senior bonds of Lehman Brothers. However, the investment by the subsidiary constitutes less than1% of the total assets of the subsidiary and less than 0.1% of the consolidated total assets of the ICICI Group. Though the bank''s losses in the US exposure are little as compared to its total business size, the investors are more apprehensive about the bank''s operations.
At 1.31PM, the BSE Sensex is trading lower by 467.02 points at 12,635 and NSE Nifty is down by 129 points at 3,856.
The BSE Mid Cap and Small cap are trading lower by 224 points and 292 points at 4,716.56 and 5,569.72 respectively.
Losers from the BSE are ICICI Bank Ltd down by (11.68%) at Rs495.70 along with JP Associates (11.19%) at Rs107.50, DLF Ltd (8.25%) at Rs339.00, Ranbaxy Lab (7.23%) at Rs252.70, Satyam Computer (6.94%) at Rs299.60, Tata Motors (5.33%) at Rs353.40 and TCS Ltd by (4.73%) at Rs644.45.
Only gainer from the BSE is HUL trading up by (1.86%) at Rs257.20.
The BSE Capital Goods index is trading lower by 453.46 points at Rs10,341.73. Major losers are Walchand In (10.22%) at Rs207.30 followed by Jyoti Struct (10.16%) at Rs88.00, Usha Martin by (9.65%) at Rs51.00, Reliance industrial Infra (8.84%) at Rs594.05 and Suzlon Energy by (8.84%) at Rs594.05.
The BSE Bank index is losing 435.60 points at Rs6,134.94. Scrips trading lower are ICICI Bank Ltd (11.68%) at Rs495.70 followed by IOB by (10.86%) at Rs87.40, Oriental Bank of Commerce (10.12%) at Rs143.50, Union Bank (6.98%) at Rs133.90 and Yes Bank by (6.86at Rs116.00.
The BSE Metal index is trading down by 363.98 points at Rs9,138.11 as Welspan Gujarat Sr is trading lower by (9.96%) at Rs221.05 along with Jindal Saw (8.87%) at Rs558.40, JSW SL (7.69%) at Rs527.90, Sterlite Indus by (5.03%) at Rs456.00 and Tata Steel (4.55%) at Rs361.80.
From the telecommunication sector, Idea Cellular is trading lower by (5.58%) at Rs73.60 along with Reliance Com Ltd is trading down by (3.27%) at Rs335.50, Bharti Airtel by (3.20%) at Rs751.20 and Tata Communications by (0.13%) at Rs470.25.
In auto sector Hero Honda Motors is higher by (0.65%) at Rs855.00. However, Tata Motors is down by (5.51%) at Rs253.90, Maruti Suzuki lower by (3.39%) at Rs660.85 and M&M Ltd by (2.90%) at Rs516.20.
From cement sector by Ambuja Cements is trading down by (5.15%) at Rs78.20, followed by ACC Ltd trading lower by (3.94%) at Rs589.50 and Grasim Indus is down by (2.56%) at Rs1,715.00.
ICICI Bank is trading down by (11.68%) at Rs495.70 as bank crashes due to losses on exposure. The fall of the Lehman Brothers has caused ICICI Bank a MTM loss of Rs.309cr. As per the company sources the London subsidiary of ICICI Bank had $80 million exposure in the senior bonds of Lehman Brothers. However, the investment by the subsidiary constitutes less than1% of the total assets of the subsidiary and less than 0.1% of the consolidated total assets of the ICICI Group. Though the bank''s losses in the US exposure are little as compared to its total business size, the investors are more apprehensive about the bank''s operations.
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