The markets today open lower on the back of weak cues from global markets. In the US, the National Bureau of Economic Research, or NBER, officially confirmed that the US recession started in December 2007. The selling pressure witnessed across the board mainly led by the Realty, Consumer Durables, Banking, Metal, Auto and Oil & Gas stocks.
The BSE Sensex is now trading around the 8,600 mark and the NSE Nifty is trading around the 2,600 mark.
The Asian markets are also trading mixed as Hang Seng, Nikkei and Straits Times index are trading lower by (4.94%), (4.54%) and (2.08%) respectively. However, the Shanghai Composite is trading marginally higher by (0.10%).
The US stock market on Monday crashed on growing concern about the global economic slump and on the official announcement by NBER that U.S. recession started in Dec. 2007. The financial sector plunged on prediction that credit-card companies will cut available lending by 45%, or more than $ 2 trillion. Manufacturing contracted at the fastest pace in 26 years. The Dow Jones Industrial Average (DJIA) dropped by 679.95 points to close at 8,149.09. The NASDAQ Composite (RIXF) index decreased by 137.50 points to close at 1,398.07 and the S&P 500 (SPX) fell by 80.03 points to close at 816.21.
Mahindra & Mahindra reported a top loser down by (7.66%) at Rs. 251.30 followed by HDFC down by (5.10%) at Rs. 1,365.
The overall market breadth remains negative as 270 stocks are advancing while 911 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 235.15 points at 8,604.72 and the Nifty was down by 61.15 points to 2,621.75.
The BSE Mid Cap decreased by 60.90 points to 2,785.57 and the BSE Small Cap slipped by 40.88 points to 3,256.85.
BSE Bank index is trading lower by 176.23 points or (3.95%) to trade at 4,289.59. The top losers are HDFC Bank decreased by (4.71%) to Rs.856.95, AXIS Bank down by (4.32%) to Rs.395.20, Kotak Bank declined by (3.60%) to Rs.308.15 followed by ICICI Bank fell (3.73%) to Rs. 313.90.
BSE Realty index is trading lower by 60.56 points or (4.10%) to trade at 1,417.09. The major losers are Ansal Infra declined by (5.57%) to Rs. 24.60, Parsavnath down by (5.63%) to Rs.31.85, Omaxe Ltd. decreased by (5.56%) to Rs.44.15 followed by HDIL fell by (5.54%) to Rs.69.85.
The BSE Sensex is now trading around the 8,600 mark and the NSE Nifty is trading around the 2,600 mark.
The Asian markets are also trading mixed as Hang Seng, Nikkei and Straits Times index are trading lower by (4.94%), (4.54%) and (2.08%) respectively. However, the Shanghai Composite is trading marginally higher by (0.10%).
The US stock market on Monday crashed on growing concern about the global economic slump and on the official announcement by NBER that U.S. recession started in Dec. 2007. The financial sector plunged on prediction that credit-card companies will cut available lending by 45%, or more than $ 2 trillion. Manufacturing contracted at the fastest pace in 26 years. The Dow Jones Industrial Average (DJIA) dropped by 679.95 points to close at 8,149.09. The NASDAQ Composite (RIXF) index decreased by 137.50 points to close at 1,398.07 and the S&P 500 (SPX) fell by 80.03 points to close at 816.21.
Mahindra & Mahindra reported a top loser down by (7.66%) at Rs. 251.30 followed by HDFC down by (5.10%) at Rs. 1,365.
The overall market breadth remains negative as 270 stocks are advancing while 911 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 235.15 points at 8,604.72 and the Nifty was down by 61.15 points to 2,621.75.
The BSE Mid Cap decreased by 60.90 points to 2,785.57 and the BSE Small Cap slipped by 40.88 points to 3,256.85.
BSE Bank index is trading lower by 176.23 points or (3.95%) to trade at 4,289.59. The top losers are HDFC Bank decreased by (4.71%) to Rs.856.95, AXIS Bank down by (4.32%) to Rs.395.20, Kotak Bank declined by (3.60%) to Rs.308.15 followed by ICICI Bank fell (3.73%) to Rs. 313.90.
BSE Realty index is trading lower by 60.56 points or (4.10%) to trade at 1,417.09. The major losers are Ansal Infra declined by (5.57%) to Rs. 24.60, Parsavnath down by (5.63%) to Rs.31.85, Omaxe Ltd. decreased by (5.56%) to Rs.44.15 followed by HDIL fell by (5.54%) to Rs.69.85.
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