Market struggled to sustain positive due to unforeseen cues flowing from global market. Further, the announcement made by US government that an amount of USD 306 billion will be provided as a rescue package for Citigroup did not impact much on domestic investors. This forward looking step seen unlikely to ease all concerns about the broader financial sector and as worries over the global economy remained. Meanwhile, uncertainty that the stock market regulator SEBI might introduce measures to confine over-leveraged hedge funds to bring in more stability to the volatile market.
On the sectoral front, traders off-loaded positions in some of the sectors that are pulling the market down. Realty stocks declined on concerns the global credit crunch will lead to a shortage of fund and thereby impact profitability of the firms. This sector is trading lower from its all time high. Further, capital goods heavyweights rose on hopes government’s emphasis on infrastructure projects will boost orders which in turn will support the bottomline performance.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2296 shares traded so far, 914 shares advanced while 1303 shares declined. Nearly 79 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 156.30 points at 8,758.91 and NSE Nifty is down by 29.9 points at 2,663.55.
The BSE Mid Cap is trading lower by 27.54 points at 2,889.12 and Small cap is trading down by 25.97 points at 3,364.79.
Lowers from the BSE Sensex Pack are Sterlite In down by (5.71%) at Rs.206.25 along with DLF Ltd by (5.30%) at Rs.187.70, ICICI Bank down by (4.75%) at Rs.319.60, State Bank of India by (4.32%) at Rs.1,132.00, Satyam Comp by (3.91%) at Rs.231.20 and HDFC Bank by (2.76%) at Rs.833.05.
The BSE Bankex index is down by 182.10 points at 4,416.80. Stocks trading lower are IDBI Bank down by (6.42%) at Rs.58.35 along with ICICI Bank by (4.75%) at Rs.319.60, Bank of India by (4.74%) at Rs.238.30 and Bank of Baroda by (4.69%) at Rs.255.00.
The BSE Realty index is trading with deep cut of 57.71 points (3.51%) at 1,587.71. Unitech trading lower by (8.79%) at Rs.29.05 along with Penland Ltd by (6.18%) at Rs.16.70, DLF Ltd by (5.30%) at Rs.187.70, Ansal Infra by (2.99%) at Rs.29.20 and Parsvnath by (2.87%) at Rs.33.90.
On the sectoral front, traders off-loaded positions in some of the sectors that are pulling the market down. Realty stocks declined on concerns the global credit crunch will lead to a shortage of fund and thereby impact profitability of the firms. This sector is trading lower from its all time high. Further, capital goods heavyweights rose on hopes government’s emphasis on infrastructure projects will boost orders which in turn will support the bottomline performance.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2296 shares traded so far, 914 shares advanced while 1303 shares declined. Nearly 79 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 156.30 points at 8,758.91 and NSE Nifty is down by 29.9 points at 2,663.55.
The BSE Mid Cap is trading lower by 27.54 points at 2,889.12 and Small cap is trading down by 25.97 points at 3,364.79.
Lowers from the BSE Sensex Pack are Sterlite In down by (5.71%) at Rs.206.25 along with DLF Ltd by (5.30%) at Rs.187.70, ICICI Bank down by (4.75%) at Rs.319.60, State Bank of India by (4.32%) at Rs.1,132.00, Satyam Comp by (3.91%) at Rs.231.20 and HDFC Bank by (2.76%) at Rs.833.05.
The BSE Bankex index is down by 182.10 points at 4,416.80. Stocks trading lower are IDBI Bank down by (6.42%) at Rs.58.35 along with ICICI Bank by (4.75%) at Rs.319.60, Bank of India by (4.74%) at Rs.238.30 and Bank of Baroda by (4.69%) at Rs.255.00.
The BSE Realty index is trading with deep cut of 57.71 points (3.51%) at 1,587.71. Unitech trading lower by (8.79%) at Rs.29.05 along with Penland Ltd by (6.18%) at Rs.16.70, DLF Ltd by (5.30%) at Rs.187.70, Ansal Infra by (2.99%) at Rs.29.20 and Parsvnath by (2.87%) at Rs.33.90.
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