The benchmark indices are witnessing mayhem over the prospects of deep recession. Indian bourses are losing strength and reeling under selling pressure as Asian peers are trading red. The recession fear looms across the sector, due to cash crunch hitting the corporate inc in India. However, Indian companies are showing some resilience than the counterparts in US, Europe and Japan.
Despite some stable conditions in short term credit markets, investors find it hard to invest in the financial sector unless some signs of recovery in the global economy is seen. Indices across the sector are witnessing a selling pressure with Oil & Gas, Bankex, Capital Goods, Metal and Realty on the top. The market breath is favoring decline, as 1668 stocks are trading in red and about 356 stocks in green on the broader BSE.
At 11.36 AM, the BSE Sensex lost 417.04 points at 8356 whereas NSE Nifty down by 120.04 points at 2514. The BSE Mid Cap and BSE Small Cap are losing by 115.69 points and 126.11 points at 2882 and 3367 respectively.
Losers from the NSE Nifty Pack are Unitech Ltd down by (8.62%) at Rs.35.50 along with Tata Power Ltd by (8.09%) at Rs.622.50, Tata communication by (7.71%) at Rs.410.00, Reliance communication by (7.52%) at Rs.410.00 and Reliance energy by (7.34%) at Rs.423.50.
Losers from the BSE Sensex Pack are Tata Power down by (8.07%) at Rs.622.50 along with Reliance communication by (7.39%) at Rs.184.10, ICICI Bank by (7.26%) at Rs.322.45, Reliance energy by (7.22%) at Rs.423.00, and HDFC by (7.10%) at Rs.824.00.
BSE Oil & Gas is losing by 252.14 points at 5,260.92. The major losers are Aban Offshore trading down by (6.24%) at Rs.733.20, HPCL by (5.01%) at Rs.217.00, Reliance Industries by (4.96%) at Rs.1,077.00, Reliance Nat Res by (4.73%) to Rs.40.25, followed by BPCL by (4.48%) to Rs.301.35.
BSE Bankex is trading lower by 232.78 points at 4,364.17. The top losers in the index are HDFC bank decreased by (6.99%) to Rs.825.00, ICICI Bank down by (6.61%) to Rs.324.70, Yes Bank by (6.27%) to Rs.61.25 followed by Indian Overseas by (5.89%) at Rs.63.10 and Punjab National Bank by (5.04%) to Rs.423.00.
Despite some stable conditions in short term credit markets, investors find it hard to invest in the financial sector unless some signs of recovery in the global economy is seen. Indices across the sector are witnessing a selling pressure with Oil & Gas, Bankex, Capital Goods, Metal and Realty on the top. The market breath is favoring decline, as 1668 stocks are trading in red and about 356 stocks in green on the broader BSE.
At 11.36 AM, the BSE Sensex lost 417.04 points at 8356 whereas NSE Nifty down by 120.04 points at 2514. The BSE Mid Cap and BSE Small Cap are losing by 115.69 points and 126.11 points at 2882 and 3367 respectively.
Losers from the NSE Nifty Pack are Unitech Ltd down by (8.62%) at Rs.35.50 along with Tata Power Ltd by (8.09%) at Rs.622.50, Tata communication by (7.71%) at Rs.410.00, Reliance communication by (7.52%) at Rs.410.00 and Reliance energy by (7.34%) at Rs.423.50.
Losers from the BSE Sensex Pack are Tata Power down by (8.07%) at Rs.622.50 along with Reliance communication by (7.39%) at Rs.184.10, ICICI Bank by (7.26%) at Rs.322.45, Reliance energy by (7.22%) at Rs.423.00, and HDFC by (7.10%) at Rs.824.00.
BSE Oil & Gas is losing by 252.14 points at 5,260.92. The major losers are Aban Offshore trading down by (6.24%) at Rs.733.20, HPCL by (5.01%) at Rs.217.00, Reliance Industries by (4.96%) at Rs.1,077.00, Reliance Nat Res by (4.73%) to Rs.40.25, followed by BPCL by (4.48%) to Rs.301.35.
BSE Bankex is trading lower by 232.78 points at 4,364.17. The top losers in the index are HDFC bank decreased by (6.99%) to Rs.825.00, ICICI Bank down by (6.61%) to Rs.324.70, Yes Bank by (6.27%) to Rs.61.25 followed by Indian Overseas by (5.89%) at Rs.63.10 and Punjab National Bank by (5.04%) to Rs.423.00.
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