The market is trading on the back foot and extends its losses as the investors are taking calculated steps to book their positions. After initial surge, the market takes a sharp U turn to pare all its gains. From the sectoral front, the realty index takes a sharp bit as it is down by more than 4%. The volatility was high during the session. The called off deal by Satyam Computer over the acquisition of Maytas Properties and Maytas Infra also led to the negative sentiments in the market about the poor corporate governance.
The US Federal Reserve On Tuesday cut its key interest rates to a target of zero to 0.25% from 1%. The Fed has slashed the federal funds rate to a record low and this is the first time, the central bank has cut the rates below that mark in another effort to stimulate the economy. The Fed said it would use unconventional means to revive the US economy from a deep recession, including buying long-dated Treasuries.
The broader markets are trading in red as the BSE Mid Cap and Small Cap are trading with losses of 43.82 points or (1.35%) and 24.57 points or (0.65%) at 3,200.38 and 3,752.08 respectively.
The overall market breadth is flat as 1224 stocks are advancing while 1215 stocks are declining and 76 stocks are unchanged in BSE.
Satyam Computer reported the top loser from the BSE Sensex pack. It is trading down by (28.83%) at Rs162.55 along with Reliance Infra by (10.85%) at Rs 567.50.
ICICI Bank reported the top gainer from the BSE Sensex pack. It is trading up by (3.19%) at Rs435 along with Wipro Ltd by (2.86%) at Rs 246.25.
At 2.30 PM BSE Sensex is at 9,807.08 down by 169.89 points and NSE Nifty is at 2,981.80 lower by 59.94 points.
The BSE Reality index is trading lower by 69.22 points or (3.01%) at 2,229.17 as Indiabull Real is trading down by 6.53% at Rs138.10 along with Penland Ltd by 4.53% at Rs23.20, DLF Ltd by 3.66% at Rs267, Anant Raj by 3.64% at Rs76.70 and Mahindra Life by 3.13% at Rs179.30.
The most active shares on NSE are Satyam Computer trading at Rs162.80 with a total traded quantity of 64121211 shares followed by Reliance trading at Rs1,351.35 with a total traded quantity of 5520829 shares.
The US Federal Reserve On Tuesday cut its key interest rates to a target of zero to 0.25% from 1%. The Fed has slashed the federal funds rate to a record low and this is the first time, the central bank has cut the rates below that mark in another effort to stimulate the economy. The Fed said it would use unconventional means to revive the US economy from a deep recession, including buying long-dated Treasuries.
The broader markets are trading in red as the BSE Mid Cap and Small Cap are trading with losses of 43.82 points or (1.35%) and 24.57 points or (0.65%) at 3,200.38 and 3,752.08 respectively.
The overall market breadth is flat as 1224 stocks are advancing while 1215 stocks are declining and 76 stocks are unchanged in BSE.
Satyam Computer reported the top loser from the BSE Sensex pack. It is trading down by (28.83%) at Rs162.55 along with Reliance Infra by (10.85%) at Rs 567.50.
ICICI Bank reported the top gainer from the BSE Sensex pack. It is trading up by (3.19%) at Rs435 along with Wipro Ltd by (2.86%) at Rs 246.25.
At 2.30 PM BSE Sensex is at 9,807.08 down by 169.89 points and NSE Nifty is at 2,981.80 lower by 59.94 points.
The BSE Reality index is trading lower by 69.22 points or (3.01%) at 2,229.17 as Indiabull Real is trading down by 6.53% at Rs138.10 along with Penland Ltd by 4.53% at Rs23.20, DLF Ltd by 3.66% at Rs267, Anant Raj by 3.64% at Rs76.70 and Mahindra Life by 3.13% at Rs179.30.
The most active shares on NSE are Satyam Computer trading at Rs162.80 with a total traded quantity of 64121211 shares followed by Reliance trading at Rs1,351.35 with a total traded quantity of 5520829 shares.
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