Markets are trading weak on weak cues from Asian markets over the uncertainty as there are deep divisions between Democrats and Republicans in US about the Bush Administration''s $700 billion rescue plan for the financial sector. Sentiments also dented by the failure of Washington Mutual Fund, which was acquired by JPMorgan Chase yesterday. All indices are trading in red and among those most of the selling is visible in Metal, Capital Goods, Bank, Reality and Oil & Gas stocks.
The BSE Sensex is trading below 13,350 level and NSE Nifty below 4,050 mark. The market breadth is negative as 1246 stocks are trading in red while 613 stocks are in green.
At 11.25AM, BSE Sensex is trading lower by 236.77 points at 13,310.41 and NSE Nifty is trading down by 74.30 at 4,036.20. The BSE Mid Cap and BSE Small Cap are trading with losses of 58.50 points and 39.50 points at 5,034.54 and 6,010.46 respectively.
Inflation for the week ended 13th September 2008, was remain unchanged at 12.14% at the same level recorded a week earlier. According to economists, inflation is stabilizing around this level before it starts to fall. Inflation remains unchanged even as the Finance Ministry said prices of essential items like cereals, pulses, sugar and edible oils declined on weekly basis.
Losers from the NSE Nifty are Nalco down by (4.74%) at Rs376.95 along with Suzlon Energy (4.21%) at Rs174.15, ICICI Bank Ltd (3.99%) at Rs572.40, SAIL (3.98%) at Rs136.45, HCL Tech (3.96%) at Rs215.95, HDFC (3.55%) at Rs2,088.45 and HDFC Bank Ltd by (3.53%) at Rs1,254.75.
The BSE Metal index is trading down by 198.86 points at Rs9,778.24. As Nalco is trading lower by (4.70%) at Rs378.70 followed by Steel Authority by (3.59%) at Rs137.00, Jindla Steel (3.12%) at Rs1,369.00, Gujarat NRE C (2.84%) at Rs63.40 and NMDC Ltd by (2.30%) at Rs235.80.
The BSE Capital Goods index is trading lower by 188.47 points at Rs11,068.66. Major losers are Usha Martin (5.84%) at Rs56.45 followed by Suzlon Energy (4.40%) at Rs174.00, Punj Lloyd by (2.99%) at Rs294.85, Siemens Ltd (2.88%) at Rs443.05 and BHEL by (2.62%) at Rs1,590.00.
The BSE Bank index is trading down by 167.97 points at Rs6,695.50 as IDBI Bank Ltd is trading lower by (4.05%) at Rs76.90 along with ICICI Bank Ltd (3.78%) at Rs573.45, HDFC Bank Ltd (3.26%) at Rs1,256.00, OBC by (2.96%) at Rs156.00 and SBI(2.46%) at Rs1,457.00
The BSE Sensex is trading below 13,350 level and NSE Nifty below 4,050 mark. The market breadth is negative as 1246 stocks are trading in red while 613 stocks are in green.
At 11.25AM, BSE Sensex is trading lower by 236.77 points at 13,310.41 and NSE Nifty is trading down by 74.30 at 4,036.20. The BSE Mid Cap and BSE Small Cap are trading with losses of 58.50 points and 39.50 points at 5,034.54 and 6,010.46 respectively.
Inflation for the week ended 13th September 2008, was remain unchanged at 12.14% at the same level recorded a week earlier. According to economists, inflation is stabilizing around this level before it starts to fall. Inflation remains unchanged even as the Finance Ministry said prices of essential items like cereals, pulses, sugar and edible oils declined on weekly basis.
Losers from the NSE Nifty are Nalco down by (4.74%) at Rs376.95 along with Suzlon Energy (4.21%) at Rs174.15, ICICI Bank Ltd (3.99%) at Rs572.40, SAIL (3.98%) at Rs136.45, HCL Tech (3.96%) at Rs215.95, HDFC (3.55%) at Rs2,088.45 and HDFC Bank Ltd by (3.53%) at Rs1,254.75.
The BSE Metal index is trading down by 198.86 points at Rs9,778.24. As Nalco is trading lower by (4.70%) at Rs378.70 followed by Steel Authority by (3.59%) at Rs137.00, Jindla Steel (3.12%) at Rs1,369.00, Gujarat NRE C (2.84%) at Rs63.40 and NMDC Ltd by (2.30%) at Rs235.80.
The BSE Capital Goods index is trading lower by 188.47 points at Rs11,068.66. Major losers are Usha Martin (5.84%) at Rs56.45 followed by Suzlon Energy (4.40%) at Rs174.00, Punj Lloyd by (2.99%) at Rs294.85, Siemens Ltd (2.88%) at Rs443.05 and BHEL by (2.62%) at Rs1,590.00.
The BSE Bank index is trading down by 167.97 points at Rs6,695.50 as IDBI Bank Ltd is trading lower by (4.05%) at Rs76.90 along with ICICI Bank Ltd (3.78%) at Rs573.45, HDFC Bank Ltd (3.26%) at Rs1,256.00, OBC by (2.96%) at Rs156.00 and SBI(2.46%) at Rs1,457.00
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