The markets today plugged in the opening trade and open in deep red on the back of sharp negatinve cues from the global markets mainly led by the rejection of the $700 billion emergency rescue plan by the US House of Representatives. However, the markets suddenly managed to recover a bit. All the sectorial indices are trading in red in the openig trade fronting by the IT, Metal, Realty, Consumer Durables and Capital Goods stocks. However, some buying momentum witnessed among the Banking stocks as the index is trading with a marginal gain.
The Asian markets also managed to recover from their day’s lows and the following index are trading with a cut as Hang Seng (1.6%), Nikkei (3.11%), Straits Times (2.08%), Kospi (1.45%).
Monday, the US stock market plunged and posted a worst one-day percent decline in 21 years after the House of Representatives voted down the government''s $700 billion financial bailout package that led to the fear that the economy will suffer if credit markets do not improve. The Dow Jones Industrial Average (DJIA) dropped by 748.21 points to close at 10,394.92. The S&P 500 (SPX) index decreased by 106.85 points to close at 1,106.42 and the NASDAQ Composite (RIXF) fell 199.61 points to close at 1,983.73.
The BSE Sensex has slipped below the 12500 level and the NSE Nifty below the 3800 mark in the opening trade.
The BSE Mid Cap and the BSE Small Cap stocks are also trading lower with a loss of nearly 3% each in the early trade.
The overall market breadth is negative as 259 stocks are advancing whereas 1390 stocks are declining on BSE.
ONGC reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (2.33%) at Rs.1,047.10 while Tata Steel reported the top loser down by (5.71%) at Rs.419.90.
At 10.30AM, the BSE Sensex was down by 183.19 points at 12,412.56 and the Nifty was down by 53.50 points to 3,796.55.
The BSE Mid Cap decreased by 132.72 points to 4,596.61 and the BSE Small Cap slipped by 176.62 points to 5,376.41.
BSE Metal index dropped by 277.13 points or (3.03%) to trade at 8,867.10. The top losers are Tata Steel decreased by (5.71%) to Rs.419.90, Ispat Industries down by (4.76%) to Rs.18, JSW Steel declined by (4.37%) to Rs.483.05 followed by Sterlite Industries fell by (3.59%) to Rs.417.30.
BSE IT index slipped by 99.21 points or (3.24%) to trade at 2,958.71. The major losers are Mphasis, Satyam Computer, Infosys Technologies and Wipro fell by (4.58%), (4.44%), (4.09%) and (3.61%) to Rs.171, Rs.279.55, Rs.1,335.05 and Rs.330.70 respectively.
The Asian markets also managed to recover from their day’s lows and the following index are trading with a cut as Hang Seng (1.6%), Nikkei (3.11%), Straits Times (2.08%), Kospi (1.45%).
Monday, the US stock market plunged and posted a worst one-day percent decline in 21 years after the House of Representatives voted down the government''s $700 billion financial bailout package that led to the fear that the economy will suffer if credit markets do not improve. The Dow Jones Industrial Average (DJIA) dropped by 748.21 points to close at 10,394.92. The S&P 500 (SPX) index decreased by 106.85 points to close at 1,106.42 and the NASDAQ Composite (RIXF) fell 199.61 points to close at 1,983.73.
The BSE Sensex has slipped below the 12500 level and the NSE Nifty below the 3800 mark in the opening trade.
The BSE Mid Cap and the BSE Small Cap stocks are also trading lower with a loss of nearly 3% each in the early trade.
The overall market breadth is negative as 259 stocks are advancing whereas 1390 stocks are declining on BSE.
ONGC reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (2.33%) at Rs.1,047.10 while Tata Steel reported the top loser down by (5.71%) at Rs.419.90.
At 10.30AM, the BSE Sensex was down by 183.19 points at 12,412.56 and the Nifty was down by 53.50 points to 3,796.55.
The BSE Mid Cap decreased by 132.72 points to 4,596.61 and the BSE Small Cap slipped by 176.62 points to 5,376.41.
BSE Metal index dropped by 277.13 points or (3.03%) to trade at 8,867.10. The top losers are Tata Steel decreased by (5.71%) to Rs.419.90, Ispat Industries down by (4.76%) to Rs.18, JSW Steel declined by (4.37%) to Rs.483.05 followed by Sterlite Industries fell by (3.59%) to Rs.417.30.
BSE IT index slipped by 99.21 points or (3.24%) to trade at 2,958.71. The major losers are Mphasis, Satyam Computer, Infosys Technologies and Wipro fell by (4.58%), (4.44%), (4.09%) and (3.61%) to Rs.171, Rs.279.55, Rs.1,335.05 and Rs.330.70 respectively.
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