The markets today opened on a flat note and turned volatile. The cues from the US markets are negative. The Asian markets managed to recover from day''s low and are trading mixed. The significant selling witnessed among the Consumer Durables, IT, Banking, Pharma and FMCG stocks. However the Auto and Realty index are trading marginally higher. The BSE Mid Cap and the Small Cap index are also trading lower in the opening trade.
SBI is trading lower by (0.45%) at Rs. 990. The bank has cut interest rates on fixed deposits in four maturity slabs between one year and three years by 40 to 50 basis points. The interest rate on one year to less than two years FD cut by 40 basis points to 8.10% as against 8.50% now). Further the FDs in the ‘two years to less than 1000 days’ and ‘1001 days to less than three years cut by 50 basis points to 8.25% interest as against 8.75% now.
The Asian markets are trading mixed today as Straits Times and Seoul Composite index are trading higher by (0.20%) and (0.55%) respectively. However, the Nikkei 225, Hang Seng and Shanghai Composite index are trading down by (0.49%), (1.48%) and (1.26%) respectively.
The US markets plunged on Monday, with the Dow Jones Industrial Average slipped below the 7000 mark and the S&P 500 index fell to new 12-year lows after insurance major AIG reported a massive quarterly loss. This has increased fears that the global financial crisis is worsening. AIG posted a USD61.7 billion quarterly loss due to havoc in the credit markets and massive restructuring costs. The insurance giant to get an additional USD30 billion in fresh capital from the government, marking the third such cash infusion into the company. The Dow Jones Industrial Average (DJIA) dropped by 299.64 points to close at 6,763.29. The NASDAQ Composite (RIXF) index decreased by 54.99 points to close at 1,322.85 and the S&P 500 (SPX) fell by 34.27 points to close at 700.82.
The BSE Sensex is now trading below the 8,600 mark and the NSE Nifty trading around the 2,670 mark.
Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading higher by (1.48%) at Rs. 147.80 while HDFC reported the top loser down by (2.70%) at Rs. 1,203.50.
The overall market breadth is negative as 340 stocks are advancing while 821 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 53.58 points at 8,553.50 and the Nifty was down by 9.50 points to 2,665.10.
The BSE Mid Cap decreased by 20.90 points to 2,680.08 and the BSE Small Cap fell by 16.88 points to 3,032.40.
BSE Bankex index is trading lower by 71.19 points or (1.76%) to trade at 3,962.80. The top losers are HDFC Bank decreased by (2.68%) to Rs.823, ICICI Bank down by (2.56%) to Rs.296.40, Kotak Bank declined by (2.42%) to Rs.240 followed by AXIS Bank fell by (2%) to Rs. 316.60.
BSE IT index is trading lower by 32.61 points or (1.58%) to trade at 2,024.97. The major losers are Rolta Ind. declined by (7.87%) to Rs. 77.25, Infosys Technologies down by (1.84%) to Rs.1,196.30, HCL Technologies decreased by (1.33%) to Rs.93 followed by Patni Computer by (0.52%) to Rs.94.75.
SBI is trading lower by (0.45%) at Rs. 990. The bank has cut interest rates on fixed deposits in four maturity slabs between one year and three years by 40 to 50 basis points. The interest rate on one year to less than two years FD cut by 40 basis points to 8.10% as against 8.50% now). Further the FDs in the ‘two years to less than 1000 days’ and ‘1001 days to less than three years cut by 50 basis points to 8.25% interest as against 8.75% now.
The Asian markets are trading mixed today as Straits Times and Seoul Composite index are trading higher by (0.20%) and (0.55%) respectively. However, the Nikkei 225, Hang Seng and Shanghai Composite index are trading down by (0.49%), (1.48%) and (1.26%) respectively.
The US markets plunged on Monday, with the Dow Jones Industrial Average slipped below the 7000 mark and the S&P 500 index fell to new 12-year lows after insurance major AIG reported a massive quarterly loss. This has increased fears that the global financial crisis is worsening. AIG posted a USD61.7 billion quarterly loss due to havoc in the credit markets and massive restructuring costs. The insurance giant to get an additional USD30 billion in fresh capital from the government, marking the third such cash infusion into the company. The Dow Jones Industrial Average (DJIA) dropped by 299.64 points to close at 6,763.29. The NASDAQ Composite (RIXF) index decreased by 54.99 points to close at 1,322.85 and the S&P 500 (SPX) fell by 34.27 points to close at 700.82.
The BSE Sensex is now trading below the 8,600 mark and the NSE Nifty trading around the 2,670 mark.
Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading higher by (1.48%) at Rs. 147.80 while HDFC reported the top loser down by (2.70%) at Rs. 1,203.50.
The overall market breadth is negative as 340 stocks are advancing while 821 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 53.58 points at 8,553.50 and the Nifty was down by 9.50 points to 2,665.10.
The BSE Mid Cap decreased by 20.90 points to 2,680.08 and the BSE Small Cap fell by 16.88 points to 3,032.40.
BSE Bankex index is trading lower by 71.19 points or (1.76%) to trade at 3,962.80. The top losers are HDFC Bank decreased by (2.68%) to Rs.823, ICICI Bank down by (2.56%) to Rs.296.40, Kotak Bank declined by (2.42%) to Rs.240 followed by AXIS Bank fell by (2%) to Rs. 316.60.
BSE IT index is trading lower by 32.61 points or (1.58%) to trade at 2,024.97. The major losers are Rolta Ind. declined by (7.87%) to Rs. 77.25, Infosys Technologies down by (1.84%) to Rs.1,196.30, HCL Technologies decreased by (1.33%) to Rs.93 followed by Patni Computer by (0.52%) to Rs.94.75.
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