The murkiness of the market remained unchanged after breaching its 52 week low mark. The correction of domestic market is backed by having a weak trading session of major Asian indices on account of expectation of deepening credit crises in Europe. Although U.S. lawmakers approved a USD 700 billion bank-rescue plan but the investors are still concerns on whether this bailout plan will bring the relief into the market. Spreading the wings, financial crises are now covering European companies as the finance ministry of Germany has decided to pump additional 15 bn euros expanding on an earlier 35 bn euros to save one of the biggest real estate giant ‘Hypo Real Estate AG’. Among the Sensex pack all the 30 stocks are trading in the red territory.
At 1.30PM, the BSE Sensex is trading lower by 532.04 points at 11994.28 and NSE Nifty is down by 165.2 points at 3653.10.
The BSE Mid Cap is trading lower by 242.62 points at 4650.86 and Small cap is trading down by 259.33 points at 5206.07.
Losers from the BSE are Sterlite Industries plunged by (11.37%) at Rs350.75, Tata Power down by (10.87%) at Rs791.90 along with Jaiprakash Asso (10.77%) at Rs103.60, Reliance Infra (8.98%) at Rs674.70, DLF Ltd (8.95%) at Rs306.30, Tata Steel (8.91%) at Rs358.70 and Reliance Communications (8.22%) at Rs3.05.80.
The BSE Metal index is trading lower by 618.65 points at Rs7,798.46 as scrips trading down are Jindal Steel (13.96%) at Rs990.55, JSW SL (11.60%) at Rs363.00, Sterlite Industries down by (10.79%) at Rs353.05, along with Jai Corp Ltd by (9.37%) at Rs204.00, Tata Steel is trading down by (8.16%) at Rs361.65, and Jindal Saw by (7.90%) at Rs508.60.
The BSE Capital Goods index is down by 4801.95 points at Rs9,758.04. Scrips trading lower are Praj Industries (13.20%) at Rs100.25 followed by Alstom Proje by (7.95%) at Rs347.25, Suzlon Energy (7.94%) at Rs135.60, Areva (7.56%) at Rs1,238.05 and Crompton Greaves by (6.95%) at Rs223.00.
From the telecommunication sector, Reliance Com Ltd is trading down by (8.63%) at Rs305.80 along with Bharti Airtel by (3.67%) at Rs728.55, Tata Communications lower by (3.54%) at Rs435.00 and Idea Cellular by (3.51%) at Rs70.05.
In auto sector Tata Motors is lower by (4.36%) at Rs316.10 followed by Hero Honda Motors down by (3.87%) at Rs854.00, Maruti Suzuki by (1.44%) at Rs673.05 and M&M Ltd by (0.95%) at Rs510.00.
From cement sector by Grasim Indus is trading down by (5.57%) at Rs1,661.00 followed by Ambuja Cement lower by (4.55%) at Rs74.50 and ACC Ltd by (3.54%) at Rs603.00.
On a deep cut session of Sensex, Spice telecom is trading lower by (18.13%) at Rs54.20 on account of losing nearly a million subscribers in the past two months (i.e. during July-august’08) after a strategic acquisition by Idea Cellular. Currently the total subscribers of Spice telecom is nearly 3.5 mn against of 4.5 mn it had in the month of June’08.
On the other hand, Cairn India is trading in red territory with a correction of nearly 10.99% to Rs174.90, mainly due to week crude oil prices on account of expectation of credit crises deepened in Europe, which adding to concerns that the global economic growth is on downwards which will reduce demand for fuels in the near future. Crude oil for November delivery fell as much as USD 3.16 to USD 90.72 a barrel.
At 1.30PM, the BSE Sensex is trading lower by 532.04 points at 11994.28 and NSE Nifty is down by 165.2 points at 3653.10.
The BSE Mid Cap is trading lower by 242.62 points at 4650.86 and Small cap is trading down by 259.33 points at 5206.07.
Losers from the BSE are Sterlite Industries plunged by (11.37%) at Rs350.75, Tata Power down by (10.87%) at Rs791.90 along with Jaiprakash Asso (10.77%) at Rs103.60, Reliance Infra (8.98%) at Rs674.70, DLF Ltd (8.95%) at Rs306.30, Tata Steel (8.91%) at Rs358.70 and Reliance Communications (8.22%) at Rs3.05.80.
The BSE Metal index is trading lower by 618.65 points at Rs7,798.46 as scrips trading down are Jindal Steel (13.96%) at Rs990.55, JSW SL (11.60%) at Rs363.00, Sterlite Industries down by (10.79%) at Rs353.05, along with Jai Corp Ltd by (9.37%) at Rs204.00, Tata Steel is trading down by (8.16%) at Rs361.65, and Jindal Saw by (7.90%) at Rs508.60.
The BSE Capital Goods index is down by 4801.95 points at Rs9,758.04. Scrips trading lower are Praj Industries (13.20%) at Rs100.25 followed by Alstom Proje by (7.95%) at Rs347.25, Suzlon Energy (7.94%) at Rs135.60, Areva (7.56%) at Rs1,238.05 and Crompton Greaves by (6.95%) at Rs223.00.
From the telecommunication sector, Reliance Com Ltd is trading down by (8.63%) at Rs305.80 along with Bharti Airtel by (3.67%) at Rs728.55, Tata Communications lower by (3.54%) at Rs435.00 and Idea Cellular by (3.51%) at Rs70.05.
In auto sector Tata Motors is lower by (4.36%) at Rs316.10 followed by Hero Honda Motors down by (3.87%) at Rs854.00, Maruti Suzuki by (1.44%) at Rs673.05 and M&M Ltd by (0.95%) at Rs510.00.
From cement sector by Grasim Indus is trading down by (5.57%) at Rs1,661.00 followed by Ambuja Cement lower by (4.55%) at Rs74.50 and ACC Ltd by (3.54%) at Rs603.00.
On a deep cut session of Sensex, Spice telecom is trading lower by (18.13%) at Rs54.20 on account of losing nearly a million subscribers in the past two months (i.e. during July-august’08) after a strategic acquisition by Idea Cellular. Currently the total subscribers of Spice telecom is nearly 3.5 mn against of 4.5 mn it had in the month of June’08.
On the other hand, Cairn India is trading in red territory with a correction of nearly 10.99% to Rs174.90, mainly due to week crude oil prices on account of expectation of credit crises deepened in Europe, which adding to concerns that the global economic growth is on downwards which will reduce demand for fuels in the near future. Crude oil for November delivery fell as much as USD 3.16 to USD 90.72 a barrel.
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