Market remained weak as a sign of further weakness in the world economy is perceived by the investors. In addition to this, the market participants are hesitating to take any fresh position in derivative segment. Moreover, the political exchange of dialogs between the neighboring countries is heating up. Due to which pinch of panic about the future uncertainties is deteriorating the sentiment.
On the sectoral front, traders off-loaded positions across the sectors. Realty stocks declined on recent reports that property rates are expected to fall by 20.25% as demand has dropped sharply over the past couple of months on account of high interest rates. Likewise, metal stocks declined on worries a weakening domestic and global economy will hit demand. However, Banking stocks recovered as investors anticipated that falling bond yields and lower rates might accelerate loan growth and profitability.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,280 stocks traded so far, 779 shares advanced while 1,428 shares declined. Nearly 73 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 62.50 points at 9,624.25 and NSE Nifty is down by 24.84 points at 2,943.80.
The BSE Mid Cap is trading lower by 21.27 points at 3,154.54 and Small cap is trading down by 36.51 points at 3,602.66.
Losers from the BSE Sensex Pack are Satyam Computer Service nosedived by 7.94% to Rs.129.25 along with Tata Motors by 5.95% to Rs.164.45, Tata Motors by 5.95% at Rs.164.45, DLF Ltd by 3.41% at Rs.291.55, Jaiprakash Associates by 2.93% at Rs.76.20, ITC Ltd by 2.84% at Rs.172.75, TCS Ltd by 2.74% at Rs.486.70 and Tata Steel by 2.64% at Rs.215.70 among others.
The BSE Realty index is lower by 100.35 points or 4.17% at 2,306.03. Stocks trading lower are unitech Ltd by 11.70% at Rs.37.35 along with Indiabulls Realty by 5.39% at Rs.133.40, Orbitco by 5.16% at Rs.60.60, Housing Dev by 5.05% at Rs.138.20 and Sobha Devlop by 4.48% at Rs.104.50 among others.
The BSE Bankex index is higher by 48.06 points or 0.91% at 5,333.15. Stocks trading in green are Karnataka Bank up by 4.03% at Rs.78.75, Bank of Baroda by 3.22% at Rs.269.00, ICICI Bank by 1.46% at Rs.433.05, Federal Bank by 1.30% at Rs.159.55, State Bank of India by 1.13% at Rs.1,278.30, Bank of India by 1.06% at Rs.286.00, and Union Bank by 1.01% at Rs.159.45 among others.
PBA Infrastructure jumped 7.22% to Rs.30.45 after it secured two construction orders worth 479.6 million rupees from Maharashtra authorities.
Satyam Computer Service nosedived by 7.94% to Rs.129.25 after the World Bank barred the company from doing business with it for eight years.
Wipro rose 3.36% to Rs.251.00 after it said it is buying Citi Technology Services, the India-based captive provider of information technology services and solutions to Citi entities worldwide, for $127 million in an all cash deal.
GEE gained 0.57% to Rs.35.00 on setting record date for issuing bonus shares in the ratio of 1:5.
Pyramid Saimira Theatre was frozen at 10% lower circuit at Rs.55.05 after the stock market regulator said it had not issued any letter regarding an open offer for the company''s shares at a huge premium over the market price.
Punj Lloyd gained 1.22% to Rs.153.40 on bagging an order worth Rs 303.95 crore.
On the sectoral front, traders off-loaded positions across the sectors. Realty stocks declined on recent reports that property rates are expected to fall by 20.25% as demand has dropped sharply over the past couple of months on account of high interest rates. Likewise, metal stocks declined on worries a weakening domestic and global economy will hit demand. However, Banking stocks recovered as investors anticipated that falling bond yields and lower rates might accelerate loan growth and profitability.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,280 stocks traded so far, 779 shares advanced while 1,428 shares declined. Nearly 73 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 62.50 points at 9,624.25 and NSE Nifty is down by 24.84 points at 2,943.80.
The BSE Mid Cap is trading lower by 21.27 points at 3,154.54 and Small cap is trading down by 36.51 points at 3,602.66.
Losers from the BSE Sensex Pack are Satyam Computer Service nosedived by 7.94% to Rs.129.25 along with Tata Motors by 5.95% to Rs.164.45, Tata Motors by 5.95% at Rs.164.45, DLF Ltd by 3.41% at Rs.291.55, Jaiprakash Associates by 2.93% at Rs.76.20, ITC Ltd by 2.84% at Rs.172.75, TCS Ltd by 2.74% at Rs.486.70 and Tata Steel by 2.64% at Rs.215.70 among others.
The BSE Realty index is lower by 100.35 points or 4.17% at 2,306.03. Stocks trading lower are unitech Ltd by 11.70% at Rs.37.35 along with Indiabulls Realty by 5.39% at Rs.133.40, Orbitco by 5.16% at Rs.60.60, Housing Dev by 5.05% at Rs.138.20 and Sobha Devlop by 4.48% at Rs.104.50 among others.
The BSE Bankex index is higher by 48.06 points or 0.91% at 5,333.15. Stocks trading in green are Karnataka Bank up by 4.03% at Rs.78.75, Bank of Baroda by 3.22% at Rs.269.00, ICICI Bank by 1.46% at Rs.433.05, Federal Bank by 1.30% at Rs.159.55, State Bank of India by 1.13% at Rs.1,278.30, Bank of India by 1.06% at Rs.286.00, and Union Bank by 1.01% at Rs.159.45 among others.
PBA Infrastructure jumped 7.22% to Rs.30.45 after it secured two construction orders worth 479.6 million rupees from Maharashtra authorities.
Satyam Computer Service nosedived by 7.94% to Rs.129.25 after the World Bank barred the company from doing business with it for eight years.
Wipro rose 3.36% to Rs.251.00 after it said it is buying Citi Technology Services, the India-based captive provider of information technology services and solutions to Citi entities worldwide, for $127 million in an all cash deal.
GEE gained 0.57% to Rs.35.00 on setting record date for issuing bonus shares in the ratio of 1:5.
Pyramid Saimira Theatre was frozen at 10% lower circuit at Rs.55.05 after the stock market regulator said it had not issued any letter regarding an open offer for the company''s shares at a huge premium over the market price.
Punj Lloyd gained 1.22% to Rs.153.40 on bagging an order worth Rs 303.95 crore.
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