The markets open sharply lower today tracking weak cues from the Asian markets. All the sectorial indices are trading in red in the opening trade. The significant selling pressure witnessed among the Oil & Gas, Banking, Metal, Realty and Capital Goods stocks. The market also keep an eye on the Barrack Obama’s swearing in as the new President of the United States of America later Tuesday, which could probably provide some positive sentiment to global equities.
The BSE Mid Cap and the Small Cap are also trading lower with a cut of around 1% each.
The BSE Sensex is now trading below the 9,100 mark and the NSE Nifty trading below the 2,800 mark.
Asian markets are trading sharply lower taking their cue from Europe, on news that Royal Bank of Scotland expects to post $41 billion loss in 2008, largest in UK history. RBS said that loss would be largely on account of goodwill impairment charge of nearly $22-30 billion related to its acquisition of ABN Amro in 2007. This has made the RBS shares plunged nearly 65% to 11.6 pence. Further the UK government also increasing its stake in RBS to nearly 70% from 58%. This news has overshadowed the British government’s new stimulus plan to boost the nation''s financial industry.
The Asian Markets are trading significantly lower as Hang Seng, Shanghai Composite, Nikkei, Straits Times and Seoul Composite index are trading down by (3.33%), (1.36%), (2.92%), (2.44%) and (2.21%) respectively.
The US stock markets were closed on Monday on account of Martin Luther King Junior Day.
There are now no gainers among the BSE Sensex pack today. However, Bharti Airtel reported a top loser among the BSE Sensex pack down by (4.06%) at Rs. 620.70 followed by Reliance Communication slipped by (3.65%) at Rs. 178.20.
The overall market breadth is negative as 421 stocks are advancing while 822 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 281.38 points at 9,048.19 and the Nifty was down by 85.80 points to 2,760.40.
The BSE Mid Cap decreased by 34.50 points to 3,009.03 and the BSE Small Cap slipped by 20.83 points to 3,430.63.
BSE Bank index is trading lower by 130.20 points or (2.61%) to trade at 4,858.92. The top losers are HDFC Bank decreased by (3.28%) to Rs.909.15, ICICI Bank down by (2.72%) to Rs.401.80, AXIS Bank declined by (2.82%) to Rs.426 followed by SBI fell (2.57%) to Rs. 1,117.90.
BSE Realty index is trading lower by 43.65 points or (2.48%) to trade at 1,717.43. The major losers are Penland declined by (2.89%) to Rs. 21.85, Ansal Infra down by (2.44%) to Rs.26, DLF decreased by (2.25%) to Rs.190.75 followed by Sobha Developers fell by (2.15%) to Rs.84.
DLF is trading lower by (3.05%) at Rs.189.20. The company has announced expansion plans worth Rs 550 crores in Punjab with the launch of its first office-cum-retail venture “The Galleria, DLF Ludhiana.
Suzlon Energy declining by (3.22%) to Rs.52.65. The company has entered the Sri Lankan market with an order to supply 10 MW of wind turbine capacity to a project developed by Senok Wind Power.
The BSE Mid Cap and the Small Cap are also trading lower with a cut of around 1% each.
The BSE Sensex is now trading below the 9,100 mark and the NSE Nifty trading below the 2,800 mark.
Asian markets are trading sharply lower taking their cue from Europe, on news that Royal Bank of Scotland expects to post $41 billion loss in 2008, largest in UK history. RBS said that loss would be largely on account of goodwill impairment charge of nearly $22-30 billion related to its acquisition of ABN Amro in 2007. This has made the RBS shares plunged nearly 65% to 11.6 pence. Further the UK government also increasing its stake in RBS to nearly 70% from 58%. This news has overshadowed the British government’s new stimulus plan to boost the nation''s financial industry.
The Asian Markets are trading significantly lower as Hang Seng, Shanghai Composite, Nikkei, Straits Times and Seoul Composite index are trading down by (3.33%), (1.36%), (2.92%), (2.44%) and (2.21%) respectively.
The US stock markets were closed on Monday on account of Martin Luther King Junior Day.
There are now no gainers among the BSE Sensex pack today. However, Bharti Airtel reported a top loser among the BSE Sensex pack down by (4.06%) at Rs. 620.70 followed by Reliance Communication slipped by (3.65%) at Rs. 178.20.
The overall market breadth is negative as 421 stocks are advancing while 822 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 281.38 points at 9,048.19 and the Nifty was down by 85.80 points to 2,760.40.
The BSE Mid Cap decreased by 34.50 points to 3,009.03 and the BSE Small Cap slipped by 20.83 points to 3,430.63.
BSE Bank index is trading lower by 130.20 points or (2.61%) to trade at 4,858.92. The top losers are HDFC Bank decreased by (3.28%) to Rs.909.15, ICICI Bank down by (2.72%) to Rs.401.80, AXIS Bank declined by (2.82%) to Rs.426 followed by SBI fell (2.57%) to Rs. 1,117.90.
BSE Realty index is trading lower by 43.65 points or (2.48%) to trade at 1,717.43. The major losers are Penland declined by (2.89%) to Rs. 21.85, Ansal Infra down by (2.44%) to Rs.26, DLF decreased by (2.25%) to Rs.190.75 followed by Sobha Developers fell by (2.15%) to Rs.84.
DLF is trading lower by (3.05%) at Rs.189.20. The company has announced expansion plans worth Rs 550 crores in Punjab with the launch of its first office-cum-retail venture “The Galleria, DLF Ludhiana.
Suzlon Energy declining by (3.22%) to Rs.52.65. The company has entered the Sri Lankan market with an order to supply 10 MW of wind turbine capacity to a project developed by Senok Wind Power.
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