The markets slump on opening bell as heavy sell off was seen in US and Asian markets. Further, markets have some recovery on expected CRR cut by RBI. On the earning front, Infosys Technologies released its quarterly results and the company has lowered its FY09 guidance. Infosys Technologies standalone net profit for the quarter ended September 2008 was up 10% at Rs.1,390 crore against Rs.1,262 crore in the previous quarter. All the sectorial indices are trading in red and Capital Goods, Oil & Gas, Bank, Metal and Reality stocks hammered the most.
From the global front, Thursday was a terrible day for the US stock market as ended in deep red. Despite beginning the trading day with healthy gains late-session sell-off took the market extremely lower. Dow ends below 9000 for the first time in over 5 years. The Dow Jones Industrial Average (DJIA) dropped by 678.91 points to close at 8,579.19. The NASDAQ Composite (RIXF) index decreased by 95.21 points to close at 1,645.12 and the S&P 500 (SPX) fell 75.02 points to close at 909.92.
The BSE Mid Cap and the BSE Small Cap stocks are also facing heavy selling pressure in the early trade.
The overall market breadth is negative as 1557 stocks are declining whereas 222 stocks are advancing on BSE.
Reliance Communication Ltd reported the top loser from the BSE Sensex pack, as it is trading with a loss of (9.95%) at Rs.270.70 while only one gainer is Hindalco as it is trading is gain of (1.10%) at Rs.91.80.
At 10.31AM, the BSE Sensex was down by 618 points at 10,709.55 and the Nifty was lower by 166 points to 3,346.95
The BSE Mid Cap decreased by 229 points to 3,780.92 and the BSE Small Cap dropped by 229 points to 4,469.77.
BSE Capital Goods index dropped by 528.95 points to trade at 8,264.42. The top losers are Jyoti Struct decreased by (13.83%) to Rs.67.00, Usha Martin down by (10.79%) to Rs.43.00, Suzlon Energy declined by (10.56%) to Rs.101.65 followed by Walchand In dropped by (9.39%) to Rs.150.55.
BSE Metal index lost 370.47 points to trade at 6,838.99. The major losers are Gujarat NRE C, Tata Steel, Jindal Steel and Sesa Goa Ltd decreased by (9.82%), (8.97%), (8.64%) and (8.37%) to Rs.34.90, Rs.307.85, Rs.864.95 and Rs.307.85 respectively.
From the global front, Thursday was a terrible day for the US stock market as ended in deep red. Despite beginning the trading day with healthy gains late-session sell-off took the market extremely lower. Dow ends below 9000 for the first time in over 5 years. The Dow Jones Industrial Average (DJIA) dropped by 678.91 points to close at 8,579.19. The NASDAQ Composite (RIXF) index decreased by 95.21 points to close at 1,645.12 and the S&P 500 (SPX) fell 75.02 points to close at 909.92.
The BSE Mid Cap and the BSE Small Cap stocks are also facing heavy selling pressure in the early trade.
The overall market breadth is negative as 1557 stocks are declining whereas 222 stocks are advancing on BSE.
Reliance Communication Ltd reported the top loser from the BSE Sensex pack, as it is trading with a loss of (9.95%) at Rs.270.70 while only one gainer is Hindalco as it is trading is gain of (1.10%) at Rs.91.80.
At 10.31AM, the BSE Sensex was down by 618 points at 10,709.55 and the Nifty was lower by 166 points to 3,346.95
The BSE Mid Cap decreased by 229 points to 3,780.92 and the BSE Small Cap dropped by 229 points to 4,469.77.
BSE Capital Goods index dropped by 528.95 points to trade at 8,264.42. The top losers are Jyoti Struct decreased by (13.83%) to Rs.67.00, Usha Martin down by (10.79%) to Rs.43.00, Suzlon Energy declined by (10.56%) to Rs.101.65 followed by Walchand In dropped by (9.39%) to Rs.150.55.
BSE Metal index lost 370.47 points to trade at 6,838.99. The major losers are Gujarat NRE C, Tata Steel, Jindal Steel and Sesa Goa Ltd decreased by (9.82%), (8.97%), (8.64%) and (8.37%) to Rs.34.90, Rs.307.85, Rs.864.95 and Rs.307.85 respectively.
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