The markets today opened on a positive note but suddenly turned choppy on the back of mixed cues from the Asian markets. The Realty, Banking, Consumer Durables, Metal and Capital Goods stocks are witnessing some selling pressure in the early trade. However the IT index is trading higher and has outperformed the benchmark index in the opening trade. Broader markets stocks also remained out of favor in the opening trade.
The BSE Sensex is now trading below the 10,800 mark and the NSE Nifty below the 3,320 mark in the early trade.
BSE Sensex was down by 35.78 points at 10,781.76 and the Nifty was down by 11.45 points to 3,318.85.
The BSE Mid Cap decreased by 41.94 points to 3,440.84 and the BSE Small Cap fell by 65.07 points to 3,897.61.
Reliance Industries is trading lower by (0.33%) ahead of its earnings results. It is expected hat the company may report a second consecutive drop in quarterly profit as the global economic crisis squeezed demand and shrank refining margins.
The Asian markets are trading higher today as Hang Seng, Nikkei 255, Seoul Composite and Straits Times index are trading up by (0.90%), (0.42%), 0.44%) and (0.06%) respectively.
The US stock markets on Wednesday closed mostly lower as a late rally in the US markets distorted on sell-off in financials. The loss in financials were led by Morgan Stanley after the investment bank said credit troubles hampered earnings and also posted its second straight quarterly loss and slashed its dividend. The Dow Jones Industrial Average (DJIA) dropped by 82.99 points to close at 7,886.57. The NASDAQ Composite (RIXF) index increased by 2.27 points to close at 1,646.12 and the S&P 500 (SPX) fell by 6.53 points to close at 843.55.
Wipro reported the top gainer from the BSE Sensex pack, as it is trading higher by (3.89%) at Rs. 292.60 while Bharti Airtel reported the top loser down by (2.23%) at Rs. 694.80.
The overall market breadth is negative as 557 stocks are advancing while 853 stocks are declining on BSE.
BSE IT index is trading higher by 40.37 points or (1.67%) to trade at 2,463.70. The top gainers are Wipro increased by (4.28%) to Rs.293.70, TCS up by (2.31%) to Rs.555.50, Infosys Technologies inclined by (2.14%) to Rs.1,408.0 followed by Tech Mahindra up by (0.78%) to Rs. 308.70.
BSE Realty index is trading lower by 11.85 points or (0.55%) at 2,132.20. The major losers are Orbit Co down by (5.43%) to Rs. 69.70, Akruti City fell by (4.99%) at Rs. 361, Unitech down by (3.81%) to Rs. 45.50 and Sobha Developers declined by (2.22%) to Rs. 99.30.
The BSE Sensex is now trading below the 10,800 mark and the NSE Nifty below the 3,320 mark in the early trade.
BSE Sensex was down by 35.78 points at 10,781.76 and the Nifty was down by 11.45 points to 3,318.85.
The BSE Mid Cap decreased by 41.94 points to 3,440.84 and the BSE Small Cap fell by 65.07 points to 3,897.61.
Reliance Industries is trading lower by (0.33%) ahead of its earnings results. It is expected hat the company may report a second consecutive drop in quarterly profit as the global economic crisis squeezed demand and shrank refining margins.
The Asian markets are trading higher today as Hang Seng, Nikkei 255, Seoul Composite and Straits Times index are trading up by (0.90%), (0.42%), 0.44%) and (0.06%) respectively.
The US stock markets on Wednesday closed mostly lower as a late rally in the US markets distorted on sell-off in financials. The loss in financials were led by Morgan Stanley after the investment bank said credit troubles hampered earnings and also posted its second straight quarterly loss and slashed its dividend. The Dow Jones Industrial Average (DJIA) dropped by 82.99 points to close at 7,886.57. The NASDAQ Composite (RIXF) index increased by 2.27 points to close at 1,646.12 and the S&P 500 (SPX) fell by 6.53 points to close at 843.55.
Wipro reported the top gainer from the BSE Sensex pack, as it is trading higher by (3.89%) at Rs. 292.60 while Bharti Airtel reported the top loser down by (2.23%) at Rs. 694.80.
The overall market breadth is negative as 557 stocks are advancing while 853 stocks are declining on BSE.
BSE IT index is trading higher by 40.37 points or (1.67%) to trade at 2,463.70. The top gainers are Wipro increased by (4.28%) to Rs.293.70, TCS up by (2.31%) to Rs.555.50, Infosys Technologies inclined by (2.14%) to Rs.1,408.0 followed by Tech Mahindra up by (0.78%) to Rs. 308.70.
BSE Realty index is trading lower by 11.85 points or (0.55%) at 2,132.20. The major losers are Orbit Co down by (5.43%) to Rs. 69.70, Akruti City fell by (4.99%) at Rs. 361, Unitech down by (3.81%) to Rs. 45.50 and Sobha Developers declined by (2.22%) to Rs. 99.30.
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