The market is trading on the back foot without showing any sign of recovery. One of the biggest economy Japan slid into its first recession in seven years in the third quarter as the financial crisis curbed demand for Japanese exports. This also led the investors to take cautious approach before booking further positions. From the sectoral front, the real estate sector is the worst hit despite slew of measures announced by Reserve Bank Of India in the weekend.
The RBI on Saturday announced a slew of positive measures that includes permission to housing finance firms to raise funds from overseas markets and raising the interest rate ceiling on foreign currency deposits. The bank has also given Rs 1000 crore loan to the National Housing Bank, a move that would “help the sagging real estate sector. Along with this the bank has effectively reduced the tax on lending to the real estate sector that means banks can now more freely lend funds to the sector.
On the global market front, the European Markets are trading mixed as Dax Index is trading marginally up by 0.05% while FTSE 100 down by 0.24%.
The broader markets are also negative as the BSE Mid Cap and Small Cap are trading with losses of 3.01% and 3.33% at 3,119.16 and 3,639.86 respectively.
The overall market breadth is weak as 1891 stocks are declining while 473 stocks are advancing in BSE.
Reliance Infra reported the top loser from the BSE Sensex pack. It is trading down by (8.58%) at Rs.472.25.
At 2.33PM BSE Sensex is at 9,082.4 lower by 303.02 points and Nifty is at 2,735.55 down by 74.8 points.
The BSE Realty index is trading with a deep cut of 153.17 points or (7.61%) at 1,858.39. Pulling it are Unitech trading lower by 11.91% at Rs 40.30 along with Indiabull Real by 9.32% at Rs99.20, Sobha Dev by 8.73% at Rs91.95, Anant Raj Inds by 8.57% at Rs 45.90, Ansal Infra by 7.91% at Rs38.40, DLF by 7.10% at Rs223.80, Mahindralife by 6.68% at Rs162, Parsvnath by 6.33% at Rs40.70, Phoenix Mill by 5.81% at Rs61.60 and Omaxe by 5.52% at Rs54.75.
The Bankex index is trading with losses of 331.80 points or (6.44%) at 4,823.96. Losers are Kotak bank trading down by 10.69% at Rs338 in line with Axis bank by 9.16% at Rs449.50, Canara bank by 8.32% at Rs173.10, BOI by 8.06% at Rs254.30, Union bank by 7.38% at Rs147.50 and HDFC bank by 7.22% at Rs938.55.
The most active shares on NSE are Reliance Industries trading at Rs.1111 with a total traded quantity of 5650297 shares followed by HDFC trading at Rs.1433.30 with a total traded quantity of 2510840 shares.
The RBI on Saturday announced a slew of positive measures that includes permission to housing finance firms to raise funds from overseas markets and raising the interest rate ceiling on foreign currency deposits. The bank has also given Rs 1000 crore loan to the National Housing Bank, a move that would “help the sagging real estate sector. Along with this the bank has effectively reduced the tax on lending to the real estate sector that means banks can now more freely lend funds to the sector.
On the global market front, the European Markets are trading mixed as Dax Index is trading marginally up by 0.05% while FTSE 100 down by 0.24%.
The broader markets are also negative as the BSE Mid Cap and Small Cap are trading with losses of 3.01% and 3.33% at 3,119.16 and 3,639.86 respectively.
The overall market breadth is weak as 1891 stocks are declining while 473 stocks are advancing in BSE.
Reliance Infra reported the top loser from the BSE Sensex pack. It is trading down by (8.58%) at Rs.472.25.
At 2.33PM BSE Sensex is at 9,082.4 lower by 303.02 points and Nifty is at 2,735.55 down by 74.8 points.
The BSE Realty index is trading with a deep cut of 153.17 points or (7.61%) at 1,858.39. Pulling it are Unitech trading lower by 11.91% at Rs 40.30 along with Indiabull Real by 9.32% at Rs99.20, Sobha Dev by 8.73% at Rs91.95, Anant Raj Inds by 8.57% at Rs 45.90, Ansal Infra by 7.91% at Rs38.40, DLF by 7.10% at Rs223.80, Mahindralife by 6.68% at Rs162, Parsvnath by 6.33% at Rs40.70, Phoenix Mill by 5.81% at Rs61.60 and Omaxe by 5.52% at Rs54.75.
The Bankex index is trading with losses of 331.80 points or (6.44%) at 4,823.96. Losers are Kotak bank trading down by 10.69% at Rs338 in line with Axis bank by 9.16% at Rs449.50, Canara bank by 8.32% at Rs173.10, BOI by 8.06% at Rs254.30, Union bank by 7.38% at Rs147.50 and HDFC bank by 7.22% at Rs938.55.
The most active shares on NSE are Reliance Industries trading at Rs.1111 with a total traded quantity of 5650297 shares followed by HDFC trading at Rs.1433.30 with a total traded quantity of 2510840 shares.
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