The markets today opened lower tracking weak global cues. The selling pressure witnessed among the Metal, IT, Oil & Gas and Realty stocks. However, the Capital Goods, FMCG and Power stocks are trading higher in the opening trade.
On the Global market front, the Asian markets are also trading lower with Nikkei 225 index down by 1.29% and Hang Seng index down by 2.56%.
Thursday, the US stock market closed in deep red due to the sharp rise in the jobless claims and plunging factory orders has led to some fear about the recession and concern whether the revised version of the $700 billion asset purchase plan will find favor in the U.S. House of Representatives after being approved by the Senate. The Dow Jones Industrial Average (DJIA) dropped by 348.22 points to close at 10,482.85. The S&P 500 (SPX) index decreased by 46.78 points to close at 1,114.28 and the NASDAQ Composite (RIXF) fell 92.68 points to close at 1,976.72.
The BSE Sensex is now trading below the 12900 level and the NSE Nifty below the 3900 mark in the opening trade.
The BSE Mid Cap and the BSE Small Cap stocks are however trading flat in the early trade.
The overall market breadth is negative as 661 stocks are advancing whereas 890 stocks are declining on BSE.
Ranbaxy Lab reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (5.48%) at Rs.265.50 while Sterlite Industries reported the top loser down by (6.85%) at Rs.400.50.
At 10.30AM, the BSE Sensex was down by 186.89 points at 12,868.78 and the Nifty was down by 51.90 points to 3,898.85.
The BSE Mid Cap decreased by 29.02 points to 4,795.14 and the BSE Small Cap slipped by 22.85 points to 5,583.95.
BSE Capital Goods index advanced by 127.62 points or (1.20%) to trade at 10,720.53. The top gainers are Gammon India increased by (3.52%) to Rs.151.65, Siemens up by (2.66%) to Rs.411.10, BHEL inclined by (2.14%) to Rs.1,625 followed by ABB grew by (1.47%) to Rs.802.75.
BSE Metal index slipped by 310.70 points or (3.43%) to trade at 8,740.95. The major losers are Sterlite Industries, JSW Steel, Jindal Steel and SAIL grew by (6.73%), (6.85%), (5.92%) and (5.19%) to Rs.400.50, Rs.423.50, Rs.1,222 and Rs.117 respectively.
HCL Technologies is trading higher by (2.04%) at Rs.210. The UK based SAP consultancy Axon Group on Thursday has recommended HCL Technolohies’ £441.1 million buyout offer o its shareholders, turned its back on a takeover by Infosys Technologies of £407 million offer.
On the Global market front, the Asian markets are also trading lower with Nikkei 225 index down by 1.29% and Hang Seng index down by 2.56%.
Thursday, the US stock market closed in deep red due to the sharp rise in the jobless claims and plunging factory orders has led to some fear about the recession and concern whether the revised version of the $700 billion asset purchase plan will find favor in the U.S. House of Representatives after being approved by the Senate. The Dow Jones Industrial Average (DJIA) dropped by 348.22 points to close at 10,482.85. The S&P 500 (SPX) index decreased by 46.78 points to close at 1,114.28 and the NASDAQ Composite (RIXF) fell 92.68 points to close at 1,976.72.
The BSE Sensex is now trading below the 12900 level and the NSE Nifty below the 3900 mark in the opening trade.
The BSE Mid Cap and the BSE Small Cap stocks are however trading flat in the early trade.
The overall market breadth is negative as 661 stocks are advancing whereas 890 stocks are declining on BSE.
Ranbaxy Lab reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (5.48%) at Rs.265.50 while Sterlite Industries reported the top loser down by (6.85%) at Rs.400.50.
At 10.30AM, the BSE Sensex was down by 186.89 points at 12,868.78 and the Nifty was down by 51.90 points to 3,898.85.
The BSE Mid Cap decreased by 29.02 points to 4,795.14 and the BSE Small Cap slipped by 22.85 points to 5,583.95.
BSE Capital Goods index advanced by 127.62 points or (1.20%) to trade at 10,720.53. The top gainers are Gammon India increased by (3.52%) to Rs.151.65, Siemens up by (2.66%) to Rs.411.10, BHEL inclined by (2.14%) to Rs.1,625 followed by ABB grew by (1.47%) to Rs.802.75.
BSE Metal index slipped by 310.70 points or (3.43%) to trade at 8,740.95. The major losers are Sterlite Industries, JSW Steel, Jindal Steel and SAIL grew by (6.73%), (6.85%), (5.92%) and (5.19%) to Rs.400.50, Rs.423.50, Rs.1,222 and Rs.117 respectively.
HCL Technologies is trading higher by (2.04%) at Rs.210. The UK based SAP consultancy Axon Group on Thursday has recommended HCL Technolohies’ £441.1 million buyout offer o its shareholders, turned its back on a takeover by Infosys Technologies of £407 million offer.
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