The markets continued to open sharply lower on the back of weak global cues. The markets in Asia and US fell for the first time in four days following weak economic data. The Realty, Power, Capital Goods and Auto are out of favor on the opening trade. However, some bit of buying is seen among the FMCG stocks. The BSE Mid Cap and the Small Cap are also trading lower in the early trade.
The Asian markets are trading lower as Hang Seng, Nikkei 225, Straits Times and Seoul Composite index are trading lower by (0.48%), (3.71%), (1.41%) and (0.39%) respectively. Japan reported a record slump in its production. However the Shanghai and Taiwan markets remained shut today.
The US stock market on Thursday ended sharply lower on the back of grim economic data and mixed earnings announcements. The new-home sales in US fell to all-time low and the number of jobless benefits surged to a record. The Dow Jones Industrial Average (DJIA) dropped by 226.44 points to close at 8,149.01. The NASDAQ Composite (RIXF) index decreased by 50.50 points to close at 1,507.84 and the S&P 500 (SPX) fell 28.95 points to close at 845.14.
The BSE Sensex is now trading below the 9,200 mark and the NSE Nifty trading around the 2,800 mark.
ONGC reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.01%) at Rs. 652. However, Sun Pharma reported a top loser among the BSE Sensex pack down by (5.14%) at Rs. 1,084.40.
The overall market breadth is negative as 558 stocks are advancing while 751 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 73.72 points at 9,162.56 and the Nifty was down by 16.50 points to 2,807.45.
The BSE Mid Cap decreased by 9.03 points to 2,894.41 and the BSE Small Cap slipped by 7.24 points to 3,296.17.
BSE Realty index is trading lower by 44.18 points or (2.76%) to trade at 1,554.81. The top losers are HDIL decreased by (3.74%) to Rs.90, DLF down by (3.70%) to Rs.158.90, India Bull Real declined by (2.89%) to Rs.107.50 followed by Unitech fell by (2.56%) to Rs. 30.40.
BSE Power index is trading lower by 43.52 points or (2.43%) to trade at 1,744.88. The major losers are Tata Power declined by (2.84%) to Rs. 739, Power Grid down by (2.46%) to Rs.87.35, GVK Power decreased by (2.20%) to Rs.17.80 followed by Suzlon Energy fell by (1.79%) to Rs.43.85.
HCL Technologies is trading higher by (2.38%) at Rs. 111.75. The company has bagged a multi-million dollar contract spread over five years from Nokia and involving providing global helpdesk as well as desktop management services through HCL’s delivery centres in Finland, Poland, China, the US and India.
Cairn India advanced by (2.74%) to Rs. 164.70. The company has posted a net profit of Rs. 451.2mn for the fiscal third quarter as against a net loss of Rs.543.1mn in the quarter ended December, 2007. On a consolidated basis, the company reported a net profit of Rs2.36bn for the third quarter compared to a net loss Rs139.1mn for the quarter ended December 2007.
The Asian markets are trading lower as Hang Seng, Nikkei 225, Straits Times and Seoul Composite index are trading lower by (0.48%), (3.71%), (1.41%) and (0.39%) respectively. Japan reported a record slump in its production. However the Shanghai and Taiwan markets remained shut today.
The US stock market on Thursday ended sharply lower on the back of grim economic data and mixed earnings announcements. The new-home sales in US fell to all-time low and the number of jobless benefits surged to a record. The Dow Jones Industrial Average (DJIA) dropped by 226.44 points to close at 8,149.01. The NASDAQ Composite (RIXF) index decreased by 50.50 points to close at 1,507.84 and the S&P 500 (SPX) fell 28.95 points to close at 845.14.
The BSE Sensex is now trading below the 9,200 mark and the NSE Nifty trading around the 2,800 mark.
ONGC reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.01%) at Rs. 652. However, Sun Pharma reported a top loser among the BSE Sensex pack down by (5.14%) at Rs. 1,084.40.
The overall market breadth is negative as 558 stocks are advancing while 751 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 73.72 points at 9,162.56 and the Nifty was down by 16.50 points to 2,807.45.
The BSE Mid Cap decreased by 9.03 points to 2,894.41 and the BSE Small Cap slipped by 7.24 points to 3,296.17.
BSE Realty index is trading lower by 44.18 points or (2.76%) to trade at 1,554.81. The top losers are HDIL decreased by (3.74%) to Rs.90, DLF down by (3.70%) to Rs.158.90, India Bull Real declined by (2.89%) to Rs.107.50 followed by Unitech fell by (2.56%) to Rs. 30.40.
BSE Power index is trading lower by 43.52 points or (2.43%) to trade at 1,744.88. The major losers are Tata Power declined by (2.84%) to Rs. 739, Power Grid down by (2.46%) to Rs.87.35, GVK Power decreased by (2.20%) to Rs.17.80 followed by Suzlon Energy fell by (1.79%) to Rs.43.85.
HCL Technologies is trading higher by (2.38%) at Rs. 111.75. The company has bagged a multi-million dollar contract spread over five years from Nokia and involving providing global helpdesk as well as desktop management services through HCL’s delivery centres in Finland, Poland, China, the US and India.
Cairn India advanced by (2.74%) to Rs. 164.70. The company has posted a net profit of Rs. 451.2mn for the fiscal third quarter as against a net loss of Rs.543.1mn in the quarter ended December, 2007. On a consolidated basis, the company reported a net profit of Rs2.36bn for the third quarter compared to a net loss Rs139.1mn for the quarter ended December 2007.
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