The benchmark indices have recovered a bit from the early losses and brought the losses to about 2.5%. The deteriorating corporate earnings, by the US companies is having a repel effect on the global markets. In addition to this, the down trend is also being witnessed in the other markets like crude oil, Metal, Gold and rupee. The recession fear is now spreading to these sectors and some are already at there year’s low. The heavyweight in the sectors like Metal, Oil & Gas, Bankex, Capital Goods and Realty are trading lower. The market breadth is negative as 406 stocks are trading in green and about 1557 stocks in red on the broader BSE.
At 11.33 AM, BSE Sensex is trading negative by 281 points at 9888.20 and NSE Nifty is trading down by 84 points at 2981. The BSE Mid Cap and BSE Small Cap are loosing by 97 points and 108 points at 3392.8 and 4003.22 respectively.
Losers from the NSE Nifty Pack are Hindalco Ind Ltd down by (9.84%) at Rs54.50 along with Ideal Cellular by (8.84%) at Rs43.30, Tata steel by (8.59%) at Rs224.00, NALCO by (7.88%) at Rs222.00, and Suzlon Energy by (7.13%) at Rs79.50.
Losers from the BSE Sensex Pack are Hindalco Ind Ltd down by (10.71%) at Rs54.20 along with Tata steel by (8.86%) at Rs223.10, HDFC by (6.73%) at Rs1776.80, ICICI Bank by (5.89%) at Rs373.10 and Bharti Airtel by (5.66%) at Rs629.65.
BSE Metal index lost 387.15 points at 5232.30. The major losers are Hindalco Ind down by (10.21%) to Rs.54.50, Tata Steel trading lower by (8.70%) to Rs.223.50, NALCO down by (8.41%) to Rs.220.60, JSW Steel by (8.01%) to Rs.230.90, followed by Sesa goa decreased by (7.12%) to Rs.76.30.
BSE Oil & Gas index is trading lower by 214.50 points to at 6183.08. The top losers are Essar oil decreased by (6.18%) to Rs.79.00, Aban Offshore down by (3.56%) to Rs1045.00, Cairn india by (3.50%) at Rs.148.80, HPCL by (3.38%) to Rs215.90 followed by Reliance Ind dropped by (3.45%) to Rs.1270.10.
At 11.33 AM, BSE Sensex is trading negative by 281 points at 9888.20 and NSE Nifty is trading down by 84 points at 2981. The BSE Mid Cap and BSE Small Cap are loosing by 97 points and 108 points at 3392.8 and 4003.22 respectively.
Losers from the NSE Nifty Pack are Hindalco Ind Ltd down by (9.84%) at Rs54.50 along with Ideal Cellular by (8.84%) at Rs43.30, Tata steel by (8.59%) at Rs224.00, NALCO by (7.88%) at Rs222.00, and Suzlon Energy by (7.13%) at Rs79.50.
Losers from the BSE Sensex Pack are Hindalco Ind Ltd down by (10.71%) at Rs54.20 along with Tata steel by (8.86%) at Rs223.10, HDFC by (6.73%) at Rs1776.80, ICICI Bank by (5.89%) at Rs373.10 and Bharti Airtel by (5.66%) at Rs629.65.
BSE Metal index lost 387.15 points at 5232.30. The major losers are Hindalco Ind down by (10.21%) to Rs.54.50, Tata Steel trading lower by (8.70%) to Rs.223.50, NALCO down by (8.41%) to Rs.220.60, JSW Steel by (8.01%) to Rs.230.90, followed by Sesa goa decreased by (7.12%) to Rs.76.30.
BSE Oil & Gas index is trading lower by 214.50 points to at 6183.08. The top losers are Essar oil decreased by (6.18%) to Rs.79.00, Aban Offshore down by (3.56%) to Rs1045.00, Cairn india by (3.50%) at Rs.148.80, HPCL by (3.38%) to Rs215.90 followed by Reliance Ind dropped by (3.45%) to Rs.1270.10.
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India's fund starved real estate industry, which is already reeling under dropping sales, high interest rates and drying up of private equity sources, has to grapple now with credit squeeze created by this quarter. According to Mr. Anuj Puri, Chairman and Managing Director, Jones Lang LaSalle Meghraj, the RBI restriction on Indian banks from financing real estate companies is playing a role. As per industry sources, several realty majors have decided to go slow on their projects, especially in large cities, because of shortage of working capital, as banks have not only withdrawn overdraft facility but also decided not to process any more corporate loans.For more view- realtydigest.blogspot.com
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