The markets today open sharply lower on the back of weak cues from the Asian markets. Further the traders want to stay on the sidelines ahead of the keenly awaited Interim Budget. Today the interim Budget is to be presented by External Affairs Minister Pranab Mukherjee who is currently holding the charge of Finance Ministry. The budget is likely to announce some measures to reduce the impact of the global economic meltdown on the Indian economy. There are expectations that there will be a stimulus package for the export oriented sectors and some sops for the infrastructure as well.
The Realty, Auto and Consumer Durables stocks are trading higher in the opening trade. However, the Banking, Oil & Gas, FMCG, Power and Metal are witnessing selling pressure. The broader markets are however trading marginally higher in the early trade.
The Asian markets are trading mostly lower barring Shanghai Composite index which is higher by (1.32%). However the Hang Seng, Nikkei 225, Seoul Composite and Straits Times index are trading lower by (1.71%), (0.21%), (0.76%) and (0.41%) respectively. Asian markets fell after a government report showed that Japan’s gross domestic product slumped 12.7% in the fourth quarter. Japan’s economy shrank the most since 1974.
The US stock market on Friday closed lower as selling pressure emerged among the financials in the last hour of trading. This has led the Dow Jones industrial average once again close below the 8000 mark at its lowest close since last November. The US Senate has approved the USD 787 billion dollar financial stability plan to boost the ailing economy, on the same day after the House of Representatives passed it. U.S. markets are closed Monday in observance of Presidents Day. President Barack Obama will officially sign the same on Tuesday. The Dow Jones Industrial Average (DJIA) dropped by 82.35 points to close at 7,850.41. The NASDAQ Composite (RIXF) index decreased by 7.35 points to close at 1,534.36 and the S&P 500 (SPX) fell by 8.35 points to close at 826.84.
The BSE Sensex is now trading below the 9,600 mark and the NSE Nifty trading below the 2,930 mark.
DLF reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.99%) at Rs. 165.40 while HDFC Bank the top loser down by (3.44%) at Rs. 913.
The overall market breadth is positive as 689 stocks are advancing while 542 stocks are declining on BSE.
At 10.30AM, the BSE Sensex was down by 86 points at 9,548.74 and the Nifty was down by 24.65 points to 2,923.70.
The BSE Mid Cap increased by 5.49 points to 3,018.44 and the BSE Small Cap grew by 22.36 points to 3,417.94.
BSE Realty index is trading higher by 26.54 points or (1.67%) to trade at 1,618.90. The top gainers are Mahindra Life increased by (6.07%) to Rs.131, Parsavnath up by (3.35%) to Rs.41.70, HDIL inclined by (2.22%) to Rs.89.60 followed by DLF grew by (2.09%) to Rs. 163.95.
BSE Bank index is trading lower by 86.85 points or (1.73%) to trade at 4,938.07. The major losers are HDFC Bank declined by (3.45%) to Rs. 912.90, AXIS Bank up by (2.66%) to Rs.427.50, SBI decreased by (2.26%) to Rs.1,167 followed by Bank of India fell by (2.01%) to Rs.246.60.
NTPC is trading lower by (0.30%) at RS. 182.35. NTPC has entered in to an MOU with Nuclear Power Corporation of India Ltd. (NPCIL) for development of Nuclear Power in India. The company for this purpose has form a Joint Venture Company for setting up Nuclear Power Projects. NPCIL shall hold 51% equity and the company will hold the balance 49% in the proposed joint nevnture.
The Realty, Auto and Consumer Durables stocks are trading higher in the opening trade. However, the Banking, Oil & Gas, FMCG, Power and Metal are witnessing selling pressure. The broader markets are however trading marginally higher in the early trade.
The Asian markets are trading mostly lower barring Shanghai Composite index which is higher by (1.32%). However the Hang Seng, Nikkei 225, Seoul Composite and Straits Times index are trading lower by (1.71%), (0.21%), (0.76%) and (0.41%) respectively. Asian markets fell after a government report showed that Japan’s gross domestic product slumped 12.7% in the fourth quarter. Japan’s economy shrank the most since 1974.
The US stock market on Friday closed lower as selling pressure emerged among the financials in the last hour of trading. This has led the Dow Jones industrial average once again close below the 8000 mark at its lowest close since last November. The US Senate has approved the USD 787 billion dollar financial stability plan to boost the ailing economy, on the same day after the House of Representatives passed it. U.S. markets are closed Monday in observance of Presidents Day. President Barack Obama will officially sign the same on Tuesday. The Dow Jones Industrial Average (DJIA) dropped by 82.35 points to close at 7,850.41. The NASDAQ Composite (RIXF) index decreased by 7.35 points to close at 1,534.36 and the S&P 500 (SPX) fell by 8.35 points to close at 826.84.
The BSE Sensex is now trading below the 9,600 mark and the NSE Nifty trading below the 2,930 mark.
DLF reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.99%) at Rs. 165.40 while HDFC Bank the top loser down by (3.44%) at Rs. 913.
The overall market breadth is positive as 689 stocks are advancing while 542 stocks are declining on BSE.
At 10.30AM, the BSE Sensex was down by 86 points at 9,548.74 and the Nifty was down by 24.65 points to 2,923.70.
The BSE Mid Cap increased by 5.49 points to 3,018.44 and the BSE Small Cap grew by 22.36 points to 3,417.94.
BSE Realty index is trading higher by 26.54 points or (1.67%) to trade at 1,618.90. The top gainers are Mahindra Life increased by (6.07%) to Rs.131, Parsavnath up by (3.35%) to Rs.41.70, HDIL inclined by (2.22%) to Rs.89.60 followed by DLF grew by (2.09%) to Rs. 163.95.
BSE Bank index is trading lower by 86.85 points or (1.73%) to trade at 4,938.07. The major losers are HDFC Bank declined by (3.45%) to Rs. 912.90, AXIS Bank up by (2.66%) to Rs.427.50, SBI decreased by (2.26%) to Rs.1,167 followed by Bank of India fell by (2.01%) to Rs.246.60.
NTPC is trading lower by (0.30%) at RS. 182.35. NTPC has entered in to an MOU with Nuclear Power Corporation of India Ltd. (NPCIL) for development of Nuclear Power in India. The company for this purpose has form a Joint Venture Company for setting up Nuclear Power Projects. NPCIL shall hold 51% equity and the company will hold the balance 49% in the proposed joint nevnture.
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