Market is trading with marginal gains but it is facing the volatility since the initial bell. In addition to this, it witnessed sharp pullback from early lows. The concerns of slowdown in Indian economy, is sniffing the sentiment. Further, shocking outlook from American industry signaled that the economic slump may deepen. Poor global corporate earnings highlighted the damage from the global economic slowdown on companies and consumers.
On the sectoral front, traders off-loaded positions in all of the sectors. Realty stocks declined on concerns of global credit crisis, lower housing demand and a rise in borrowing costs that leading to a shortage of funds and thereby impact profitability. Auto stocks extended losses for the second running day after decline in automobile sales in the festive month of Oct’08 fell 14.42%. The total number of automobiles (which include cars, commercial vehicles, two-wheelers etc) sold in Oct’08 slipped to 8.65 lakh over 10.11 lakh units sold in Oct’07.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2397 shares traded so far, 962 shares advanced while 1343 shares declined. Nearly 92 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 14.25 points at 9853.94 and NSE Nifty is up by 11.75 points at 2950.4.
The BSE Mid Cap is trading lower by 28.29 points at 3328.4 and Small cap is trading down by 28.63 points at 3859.37.
Losers from the BSE Sensex Pack are ICICI Bank down by (5.79%) at Rs.409.00 along with Tata Motors down by (4.96%) at Rs.147.60, Hindustan Unilever by (4.65%) at Rs.235.00, DLF by (4.30%) at Rs.256.15, Hindalco by (4.17%) at Rs.57.50 and Sterlite In by (2.48%) at Rs.242.25.
The BSE Realty is down by 61.80 points at 2,146.91. Losers are DLF down by (4.30%) at Rs.256.15, along with Indiabulls Real by (4.06%) by Rs.125.35, Anant Raj by (3.86%) at Rs.53.60, Phoenix Mill by (2.41%) at Rs.62.65 and Unitech Ltd by (1.57%) at Rs.50.25.
The BSE Bankex index is down by 108.09 points at 5317.41. Stocks trading lower are ICICI Bank down by (5.79%) at Rs.409.00 along with Axis Bank by (4.10%) at Rs.541.00, Federal Bank by (2.20%) at Rs.144.40, State Bank of India by (2.10%) at Rs.1,197.10 and Indus Ind Bank by (1.29%) at Rs.42.10.
The BSE Metal is down by 88.20 points at 5145.57. Losers are Welsp Guj Sr down by (6.16%) at Rs.109.70, along with Steel Authority by (4.73%) by Rs.74.60, Jindal Saw by (4.41%) at Rs.358.00, Hindalco by (4.17%) at Rs.57.50 and Jai Corp Lim by (2.36%) at Rs.138.80.
On the sectoral front, traders off-loaded positions in all of the sectors. Realty stocks declined on concerns of global credit crisis, lower housing demand and a rise in borrowing costs that leading to a shortage of funds and thereby impact profitability. Auto stocks extended losses for the second running day after decline in automobile sales in the festive month of Oct’08 fell 14.42%. The total number of automobiles (which include cars, commercial vehicles, two-wheelers etc) sold in Oct’08 slipped to 8.65 lakh over 10.11 lakh units sold in Oct’07.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2397 shares traded so far, 962 shares advanced while 1343 shares declined. Nearly 92 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 14.25 points at 9853.94 and NSE Nifty is up by 11.75 points at 2950.4.
The BSE Mid Cap is trading lower by 28.29 points at 3328.4 and Small cap is trading down by 28.63 points at 3859.37.
Losers from the BSE Sensex Pack are ICICI Bank down by (5.79%) at Rs.409.00 along with Tata Motors down by (4.96%) at Rs.147.60, Hindustan Unilever by (4.65%) at Rs.235.00, DLF by (4.30%) at Rs.256.15, Hindalco by (4.17%) at Rs.57.50 and Sterlite In by (2.48%) at Rs.242.25.
The BSE Realty is down by 61.80 points at 2,146.91. Losers are DLF down by (4.30%) at Rs.256.15, along with Indiabulls Real by (4.06%) by Rs.125.35, Anant Raj by (3.86%) at Rs.53.60, Phoenix Mill by (2.41%) at Rs.62.65 and Unitech Ltd by (1.57%) at Rs.50.25.
The BSE Bankex index is down by 108.09 points at 5317.41. Stocks trading lower are ICICI Bank down by (5.79%) at Rs.409.00 along with Axis Bank by (4.10%) at Rs.541.00, Federal Bank by (2.20%) at Rs.144.40, State Bank of India by (2.10%) at Rs.1,197.10 and Indus Ind Bank by (1.29%) at Rs.42.10.
The BSE Metal is down by 88.20 points at 5145.57. Losers are Welsp Guj Sr down by (6.16%) at Rs.109.70, along with Steel Authority by (4.73%) by Rs.74.60, Jindal Saw by (4.41%) at Rs.358.00, Hindalco by (4.17%) at Rs.57.50 and Jai Corp Lim by (2.36%) at Rs.138.80.
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