The markets today opened sharply lower tracking weak cues from the global markets. All the sectorial indices are trading in red in the opening trade. The Asian markets are also trading weak tracking overnight losses in the US markets. The heavy sell off is seen among the Realty, Banking, IT, Metal and Capital Goods stocks. The broader markets today are also witnessing some selling pressure in the early trade.
The Asian markets are trading mostly lower barring the Shanghai Composite index, which is trading higher by (0.58%). However, the Nikkei 225, Hang Seng, Seoul Composite and Straits Times index are trading lower by (1.94%), (2.45%), (3.85%) and (1.75%) respectively.
The US markets on Thursday tumbled, with the Dow Jones Industrial Average touching a six-year low due to concerns about rising credit-card defaults and worries over how Obama administration will solve the increasing financial crisis. Further, the cut down in the profit forecast by tech giant Hewlett-Packard also added to the negative sentiments of the markets. The Dow Jones Industrial Average (DJIA) dropped by 89.68 points to close at 7,465.95. The NASDAQ Composite (RIXF) index decreased by 25.15 points to close at 1,442.82 and the S&P 500 (SPX) fell by 9.48 points to close at 778.94.
The BSE Sensex is now trading below the 8,900 mark and the NSE Nifty trading below the 2,750 mark.
There are no gains among the BSE Sensex pack in the opening trade. DLF reported the top loser from the BSE Sensex pack, as it is trading loser by (4.92%) at Rs. 148.65 followed by ICICI Bank the top loser down by (4.14%) at Rs. 346.55.
The overall market breadth is negative as 287 stocks are advancing while 907 stocks are declining on BSE.
At 10.30AM, the BSE Sensex was down by 194.35 points at 8,848.28 and the Nifty was down by 60.25 points to 2,729.10.
The BSE Mid Cap decreased by 36.69 points to 2,801.71 and the BSE Small Cap fell by 37.22 points to 3,176.88.
BSE Realty index is trading lower by 47.76 points or (3.22%) to trade at 1,434.57. The top losers are DLF decreased by (4.57%) to Rs.149.20, Mahindra Life down by (4.14%) to Rs.104.25, India Bull Real declined by (3.55%) to Rs.93.60 followed by Orbit Co. fell by (3.26%) to Rs. 43.
BSE Banking index is trading lower by 130.50 points or (2.93%) to trade at 4,324.08. The major losers are ICICI Bank declined by (3.98%) to Rs. 347.10, Bank of India down by (3.72%) to Rs.218.55, Kotak Bank decreased by (3.49%) to Rs.243.70 followed by HDFC Bank fell by (3.30%) to Rs.855.60.
Satyam Computer is trading higher by (3.68%) at Rs. 47.95 after the after the Company Law Board (CLB) on Thursday allowed Satyam Computer to sell a stake to a strategic investor through an open competitive bidding process. There are reports that the company is likely to sell 26% stake to strategic partner.
The Asian markets are trading mostly lower barring the Shanghai Composite index, which is trading higher by (0.58%). However, the Nikkei 225, Hang Seng, Seoul Composite and Straits Times index are trading lower by (1.94%), (2.45%), (3.85%) and (1.75%) respectively.
The US markets on Thursday tumbled, with the Dow Jones Industrial Average touching a six-year low due to concerns about rising credit-card defaults and worries over how Obama administration will solve the increasing financial crisis. Further, the cut down in the profit forecast by tech giant Hewlett-Packard also added to the negative sentiments of the markets. The Dow Jones Industrial Average (DJIA) dropped by 89.68 points to close at 7,465.95. The NASDAQ Composite (RIXF) index decreased by 25.15 points to close at 1,442.82 and the S&P 500 (SPX) fell by 9.48 points to close at 778.94.
The BSE Sensex is now trading below the 8,900 mark and the NSE Nifty trading below the 2,750 mark.
There are no gains among the BSE Sensex pack in the opening trade. DLF reported the top loser from the BSE Sensex pack, as it is trading loser by (4.92%) at Rs. 148.65 followed by ICICI Bank the top loser down by (4.14%) at Rs. 346.55.
The overall market breadth is negative as 287 stocks are advancing while 907 stocks are declining on BSE.
At 10.30AM, the BSE Sensex was down by 194.35 points at 8,848.28 and the Nifty was down by 60.25 points to 2,729.10.
The BSE Mid Cap decreased by 36.69 points to 2,801.71 and the BSE Small Cap fell by 37.22 points to 3,176.88.
BSE Realty index is trading lower by 47.76 points or (3.22%) to trade at 1,434.57. The top losers are DLF decreased by (4.57%) to Rs.149.20, Mahindra Life down by (4.14%) to Rs.104.25, India Bull Real declined by (3.55%) to Rs.93.60 followed by Orbit Co. fell by (3.26%) to Rs. 43.
BSE Banking index is trading lower by 130.50 points or (2.93%) to trade at 4,324.08. The major losers are ICICI Bank declined by (3.98%) to Rs. 347.10, Bank of India down by (3.72%) to Rs.218.55, Kotak Bank decreased by (3.49%) to Rs.243.70 followed by HDFC Bank fell by (3.30%) to Rs.855.60.
Satyam Computer is trading higher by (3.68%) at Rs. 47.95 after the after the Company Law Board (CLB) on Thursday allowed Satyam Computer to sell a stake to a strategic investor through an open competitive bidding process. There are reports that the company is likely to sell 26% stake to strategic partner.
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