The markets today open lower further continuing yesterday’s losses on the back of negative cues from the global markets. The selling pressure is witnessed among the Realty, Capital Goods, Metal, Auto, Power and Banking stocks.
The BSE Mid Cap and the Small Cap are also trading lower with a loss of above 1% each.
The BSE Sensex is now trading below the 9,800 mark and the NSE Nifty trading below the 3,000 mark.
The Asian markets are also trading lower as Hang Seng, Shanghai Composite, Seoul Composite and Straits Times index are trading lower by (2.82%), (2.94%), (2.63%) and (0.40%) respectively. Japanese markets were closed for the Emperor''s Birthday holiday.Chinese shares in Shanghai and Hong Kong plunged as investors ignored an interest-rate cut on Monday by the People''s Bank of China. The People''s Bank of China cut its key lending and deposit rates by 0.27 percentage point each as part of its efforts to bolster the economy. The central bank also said it would lower the ratio of deposits that banks must set aside by a half-point.
The US stock market on Monday ended lower on the back of disappointing results the nation''s largest drugstore chain Walgreen Co., and Toyota Motor Corp. forecast a loss for the year. Further, the International Monetary Fund on the back of weak economic conditions indicate it may cut its economic forecast. The Dow Jones Industrial Average (DJIA) dropped by 59.34 points to close at 8,519.77. The NASDAQ Composite (RIXF) index decreased by 31.97 points to close at 1,532.35 and the S&P 500 (SPX) fell 16.25 points to close at 871.63.
Reliance Communication reported a top gainer among the BSE Sensex pack up by (0.75%) at Rs. 215.10 while Jai Prakash Associate the top loser down by (4.86%) at Rs. 83.15.
The overall market breadth remains negative as 384 stocks are advancing while 883 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 168.24 points at 9,760.11 and the Nifty was down by 47.15 points to 2,992.15.
The BSE Mid Cap decreased by 42.38 points to 3,217.41 and the BSE Small Cap slipped by 44.60 points to 3,690.35.
BSE Realty index is trading lower by 54.93 points or (2.17%) to trade at 2,473.71. The top losers are India Bull Real decreased by (4.01%) to Rs.146, HDIL down by (3.49%) to Rs.150.75, Unitech declined by (3.28%) to Rs.44.25 followed by Mahindra Life fell (3.67%) to Rs. 180.05.
BSE Capital Goods index is trading lower by 123.91 points or (1.74%) to trade at 7,001.12. The major losers are L&T declined by (4.38%) to Rs. 778.95, Punj Lloyd down by (4%) to Rs.152.40, Gammon India decreased by (3.21%) to Rs.73.85 followed by BHEL fell (1.48%) to Rs.1,381.95.
Unitech is trading lower by (4.70%) at Rs.43.60. The company’s board has approved a proposal to raise long-term funds up to Rs.5,000 crore from market through issuances of debt, equity and semi-equity like foreign currency convertible bonds.
Jaiprakash Associates slipped 8.24% to Rs. 80.20, as the company has decided the merger of Jaypee Hotels, JP Enterprises, JP Cement, & Gujarat Anjan with self.
The BSE Mid Cap and the Small Cap are also trading lower with a loss of above 1% each.
The BSE Sensex is now trading below the 9,800 mark and the NSE Nifty trading below the 3,000 mark.
The Asian markets are also trading lower as Hang Seng, Shanghai Composite, Seoul Composite and Straits Times index are trading lower by (2.82%), (2.94%), (2.63%) and (0.40%) respectively. Japanese markets were closed for the Emperor''s Birthday holiday.Chinese shares in Shanghai and Hong Kong plunged as investors ignored an interest-rate cut on Monday by the People''s Bank of China. The People''s Bank of China cut its key lending and deposit rates by 0.27 percentage point each as part of its efforts to bolster the economy. The central bank also said it would lower the ratio of deposits that banks must set aside by a half-point.
The US stock market on Monday ended lower on the back of disappointing results the nation''s largest drugstore chain Walgreen Co., and Toyota Motor Corp. forecast a loss for the year. Further, the International Monetary Fund on the back of weak economic conditions indicate it may cut its economic forecast. The Dow Jones Industrial Average (DJIA) dropped by 59.34 points to close at 8,519.77. The NASDAQ Composite (RIXF) index decreased by 31.97 points to close at 1,532.35 and the S&P 500 (SPX) fell 16.25 points to close at 871.63.
Reliance Communication reported a top gainer among the BSE Sensex pack up by (0.75%) at Rs. 215.10 while Jai Prakash Associate the top loser down by (4.86%) at Rs. 83.15.
The overall market breadth remains negative as 384 stocks are advancing while 883 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 168.24 points at 9,760.11 and the Nifty was down by 47.15 points to 2,992.15.
The BSE Mid Cap decreased by 42.38 points to 3,217.41 and the BSE Small Cap slipped by 44.60 points to 3,690.35.
BSE Realty index is trading lower by 54.93 points or (2.17%) to trade at 2,473.71. The top losers are India Bull Real decreased by (4.01%) to Rs.146, HDIL down by (3.49%) to Rs.150.75, Unitech declined by (3.28%) to Rs.44.25 followed by Mahindra Life fell (3.67%) to Rs. 180.05.
BSE Capital Goods index is trading lower by 123.91 points or (1.74%) to trade at 7,001.12. The major losers are L&T declined by (4.38%) to Rs. 778.95, Punj Lloyd down by (4%) to Rs.152.40, Gammon India decreased by (3.21%) to Rs.73.85 followed by BHEL fell (1.48%) to Rs.1,381.95.
Unitech is trading lower by (4.70%) at Rs.43.60. The company’s board has approved a proposal to raise long-term funds up to Rs.5,000 crore from market through issuances of debt, equity and semi-equity like foreign currency convertible bonds.
Jaiprakash Associates slipped 8.24% to Rs. 80.20, as the company has decided the merger of Jaypee Hotels, JP Enterprises, JP Cement, & Gujarat Anjan with self.
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