The negative trend prevailing in Asian and European Market and sustained selling by foreign funds weighed on the sentiment. Further, the market is also showing some worries over the earnings of domestic companies due to current turbulence in the economy and near to flat declaration of results from prominent sectors. Moreover, some amount of profit booking is seen after two consecutive days of upward rally.
On the sectoral front, traders off-loaded positions in Metal and Realty shares while some buying was seen in FMCG shares. IT shares fell on Wipro’s cautious outlook at the time of Q2 result declaration. Oil & Gas shares fell despite fall in crude oil prices. Banking stocks plunged in weak market after recent gains triggered by the Central bank’s repo rate cut. Market breadth is weak on account of bearish sentiments in the market. On BSE, out of 2377 shares, 758 shares advanced while 1545 shares declined and nearly 74 shares are unchanged.
At 1.33PM, the BSE Sensex is trading lower by 288 points at 10395.03 and NSE Nifty is down by 104 points at 3130.45.
The BSE Mid Cap is trading lower by 62 points at 3524.71 and Small cap is trading down by 56 points at 4139.62.
Losers from the BSE Sensex Pack are Bharti Airtel down by (6.83%) at Rs674.10 along with Reliance Communication Ltd by (6.62%) at Rs241.10, Tata Steel by (6.54%) at Rs260.10, M&M Ltd (5.76%) at Rs384.95, ICICI Bank (5.53%) at Rs407.25, Hindalco by (5.21%) at Rs61.00 and TCS Ltd by (4.95%) at Rs533.30.
The BSE Metal index is down by 317.65 points at 5784.11. Scrips trading lower are Jindal Steel Ltd down by (9.06%) at Rs719.30 along with NALCO by (7.19%) at Rs245.90, Tata Steel Ltd by (6.56%) at Rs260.05, SAIL by (5.71%) at Rs99.15, JSW Steel by (5.45%) at Rs253.35 and Hindalco by (5.13%) at Rs61.05.
The BSE Oil & Gas index is down by 260.38 points at 6513.90. Scrips trading lower are Cairn Ind by (7.06%) at Rs158.60 followed by BPCL by (6.94%) at Rs327.10, GAIL India by (5.43%) at Rs227.50, HPCL by (4.44%) at Rs214.25 and RPL (3.99%) at Rs102.15.
On the sectoral front, traders off-loaded positions in Metal and Realty shares while some buying was seen in FMCG shares. IT shares fell on Wipro’s cautious outlook at the time of Q2 result declaration. Oil & Gas shares fell despite fall in crude oil prices. Banking stocks plunged in weak market after recent gains triggered by the Central bank’s repo rate cut. Market breadth is weak on account of bearish sentiments in the market. On BSE, out of 2377 shares, 758 shares advanced while 1545 shares declined and nearly 74 shares are unchanged.
At 1.33PM, the BSE Sensex is trading lower by 288 points at 10395.03 and NSE Nifty is down by 104 points at 3130.45.
The BSE Mid Cap is trading lower by 62 points at 3524.71 and Small cap is trading down by 56 points at 4139.62.
Losers from the BSE Sensex Pack are Bharti Airtel down by (6.83%) at Rs674.10 along with Reliance Communication Ltd by (6.62%) at Rs241.10, Tata Steel by (6.54%) at Rs260.10, M&M Ltd (5.76%) at Rs384.95, ICICI Bank (5.53%) at Rs407.25, Hindalco by (5.21%) at Rs61.00 and TCS Ltd by (4.95%) at Rs533.30.
The BSE Metal index is down by 317.65 points at 5784.11. Scrips trading lower are Jindal Steel Ltd down by (9.06%) at Rs719.30 along with NALCO by (7.19%) at Rs245.90, Tata Steel Ltd by (6.56%) at Rs260.05, SAIL by (5.71%) at Rs99.15, JSW Steel by (5.45%) at Rs253.35 and Hindalco by (5.13%) at Rs61.05.
The BSE Oil & Gas index is down by 260.38 points at 6513.90. Scrips trading lower are Cairn Ind by (7.06%) at Rs158.60 followed by BPCL by (6.94%) at Rs327.10, GAIL India by (5.43%) at Rs227.50, HPCL by (4.44%) at Rs214.25 and RPL (3.99%) at Rs102.15.
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The outlook for India's property market is turning gloomier and aspiring home buyers are hoping that they would get a good bargain if they wait. As a result, residential rentals are rising again. Renting a home is already costing 15 to 20 percent more than it did a year ago, according to Mr. Pankaj Renjhen, Managing Director at consulting firm, Jones Lang LaSalle Meghraj. "Buyers feel that property rates will come down and purchasing a flat will be a more feasible option in the coming months." The US financial crisis, which saw some Wall Street icons collapse, has already begun to affect India's real estate market, which was betting big on foreign money to sustain its high ride. As per housing experts, foreign institutional investors pumped about $4 billion (Rs 19, 200 crore) into India's real estate market in the past three years. The inflows have considerably slowed in recent months and some fear these might completely dry up, given the squeeze in the global credit market. The absence of liquidity has made it difficult to hold the price for long. With the supply falling short of demand, rentals will continue to rise until property prices fall to what buyers would see as affordable.For more view- realtydigest.blogspot.com
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