Market slipped on reports of fresh shootout at New Delhi’s International airport early today morning. Further, the Indo-Pak tension in the aftermath of last week’s terror attacks in Mumbai continues. In addition to this, the European market is expected to open in deep red on the back of continuing weakness in the US markets on disappointing profit outlooks from large companies and deteriorating US employment data.
Further, RBI is expected to cut Repo and Reverse Repo rates to the extent of 200 basis points and 125 basis points respectively, in an attempt to safeguard the domestic economy against the global economic slowdown. Repo rate is considered when government wants to pump liquidity into the system while Reverse Repo rate is considered when government wants to trim-down liquidity into the system. Besides this, the government is likely to announce Rs.2,000 crore export package, a further relaxation in external commercial borrowing norms and Rs.15,000 crore package for infrastructure.
On the sectoral front, traders on-loaded positions across the sectors except. IT stocks are hammered on fall in American Depositary Receipt (ADRs) and on US recession worries. Realty stocks are trading volatile on anticipation that the government might unveil measures for the realty sector that may include incentives for low-cost housing and lower loan rates. Further, Banking stocks are also volatile on hopes of further fall in interest rates.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 1,943 shares traded so far, 963 shares advanced while 908 shares declined. Nearly 72 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 161.34 points at 9,068.41 and NSE Nifty is down by 39.9 points at 2,748.10.
The BSE Mid Cap is trading lower by 0.42 points at 2,922.38 and Small cap is trading up by 4.08 points at 3,335.88.
Losers from the BSE Sensex Pack are Infosys Technologies Ltd down by (4.08%) at Rs.1,146.00 along with Jaiprakash Associates by (3.87%) at Rs.68.30, Tata Steel by (3.81%) at Rs.180.35, NTPC by (3.74%) at Rs.158.40, TCS by (3.50%) at Rs.530.50, Hindalco In by (3.44) at Rs.50.55 and Satyam Comp by (1.87%) at Rs.228.20 among others.
Gainers from the BSE Sensex Pack are Grasim Industries by (2.57%) at Rs.952.50, Tata Motors by (2.39%) at Rs.154.50 and RCom by (2.34%) at Rs.201.55.
The BSE IT index is lower by 82.64 points or (3.35%) at 2,382.10. Stocks trading lower are Infosys Technologies Ltd down by (4.08%) at Rs.1,146.00 along with TCS by (3.50%) at Rs.530.50, Rolta Ind by (3.35%) at Rs.148.50, Patni Comp by (2.98%) at Rs.133.45, Mphasis by (2.83%) at Rs.163.10 and Satyam Comp by (1.87%) at Rs.228.20.
The BSE CD index is lower by 39.14 points or (2.26%) at 1,69539. Stocks trading lower are Titan Ind down by (3.38%) at Rs.848.00, Videocon Ind by (3.03%) at Rs.94.40, Blue Star by (2.16%) at Rs.129.05 and Gitanjali Ge by (1.43%) at Rs.68.70.
The BSE Realty index is higher by 20.39 points or (1.16%) at 1,774.04. Stocks trading up are Orbit Co by (7.27%) at Rs.50.15 along with Unitech Ltd by (4.46%) at Rs.31.60, Housing Dev by (3.63%) at Rs.95.70 and Parsvnath by (3.35%) at Rs.40.10.
Further, RBI is expected to cut Repo and Reverse Repo rates to the extent of 200 basis points and 125 basis points respectively, in an attempt to safeguard the domestic economy against the global economic slowdown. Repo rate is considered when government wants to pump liquidity into the system while Reverse Repo rate is considered when government wants to trim-down liquidity into the system. Besides this, the government is likely to announce Rs.2,000 crore export package, a further relaxation in external commercial borrowing norms and Rs.15,000 crore package for infrastructure.
On the sectoral front, traders on-loaded positions across the sectors except. IT stocks are hammered on fall in American Depositary Receipt (ADRs) and on US recession worries. Realty stocks are trading volatile on anticipation that the government might unveil measures for the realty sector that may include incentives for low-cost housing and lower loan rates. Further, Banking stocks are also volatile on hopes of further fall in interest rates.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 1,943 shares traded so far, 963 shares advanced while 908 shares declined. Nearly 72 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 161.34 points at 9,068.41 and NSE Nifty is down by 39.9 points at 2,748.10.
The BSE Mid Cap is trading lower by 0.42 points at 2,922.38 and Small cap is trading up by 4.08 points at 3,335.88.
Losers from the BSE Sensex Pack are Infosys Technologies Ltd down by (4.08%) at Rs.1,146.00 along with Jaiprakash Associates by (3.87%) at Rs.68.30, Tata Steel by (3.81%) at Rs.180.35, NTPC by (3.74%) at Rs.158.40, TCS by (3.50%) at Rs.530.50, Hindalco In by (3.44) at Rs.50.55 and Satyam Comp by (1.87%) at Rs.228.20 among others.
Gainers from the BSE Sensex Pack are Grasim Industries by (2.57%) at Rs.952.50, Tata Motors by (2.39%) at Rs.154.50 and RCom by (2.34%) at Rs.201.55.
The BSE IT index is lower by 82.64 points or (3.35%) at 2,382.10. Stocks trading lower are Infosys Technologies Ltd down by (4.08%) at Rs.1,146.00 along with TCS by (3.50%) at Rs.530.50, Rolta Ind by (3.35%) at Rs.148.50, Patni Comp by (2.98%) at Rs.133.45, Mphasis by (2.83%) at Rs.163.10 and Satyam Comp by (1.87%) at Rs.228.20.
The BSE CD index is lower by 39.14 points or (2.26%) at 1,69539. Stocks trading lower are Titan Ind down by (3.38%) at Rs.848.00, Videocon Ind by (3.03%) at Rs.94.40, Blue Star by (2.16%) at Rs.129.05 and Gitanjali Ge by (1.43%) at Rs.68.70.
The BSE Realty index is higher by 20.39 points or (1.16%) at 1,774.04. Stocks trading up are Orbit Co by (7.27%) at Rs.50.15 along with Unitech Ltd by (4.46%) at Rs.31.60, Housing Dev by (3.63%) at Rs.95.70 and Parsvnath by (3.35%) at Rs.40.10.
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