The markets opened lower today on the back of weak global cues and disappointing quarterly results from the tech bellwether Infosys Technologies. But suddenly the markets gained some momentum from the initial lows as smart buying witnessed among the Auto, Consumer Durables, Capital Goods, Pharma and Realty stocks.
However, the broader market stocks are also in demand in the early trade and have outperformed the benchmark index as both the BSE Mid Cap and the BSE Small Cap are trading with a gain of more than 2% each.
The IT, Oil & Gas and Metal stocks are witnessing some selling pressure in the early trade.
At 10.34AM, the BSE Sensex was down by 77.72 points at 10,889.50 and the Nifty was down by 23.30 points to 3,359.30.
The BSE Mid Cap increased by 71.12 points to 3,536.04 and the BSE Small Cap grew by 101.90 points to 4,017.06.
The Asian markets are trading lower today as Hang Seng, Nikkei 255, Seoul Composite and Straits Times index are trading down by (2.08%), (1.54%), (2.21%) and (2.06%) respectively.
The US stock markets on Tuesday ended in red led by financial stocks that fell out of favor and disappointing retail sales data. Further the earnings results fell to provide any leadership today.
The financial stocks ended the session with a 7.7% loss after Goldman Sachs announced a $5 billion common equity offering that was discounted from the prior session''s closing price. The Dow Jones Industrial Average (DJIA) dropped by 137.63 points to close at 7,920.18.
The NASDAQ Composite (RIXF) index decreased by 27.59 points to close at 1,625.72 and the S&P 500 (SPX) fell by 17.23 points to close at 841.50.
Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.28%) at Rs. 263 while Sterlite Industries reported the top loser down by (5.32%) at Rs. 402.50.
The overall market breadth is positive as 1210 stocks are advancing while 464 stocks are declining on BSE.
BSE Realty index is trading higher by 14.68 points or (0.69%) to trade at 2,140.44. The top gainers are Omaxe Ltd. increased by (2.94%) to Rs.61.30, Mahindra Life up by (2.44%) to Rs.185, HDIL inclined by (2.80%) to Rs.141.50 followed by Sobha Developers grew by (2.07%) to Rs. 103.70.
BSE IT index is trading lower by 113.34 points or (4.56%) at 2,373.69. The major losers are Infosys Technologies down by (4.19%) to Rs. 1,350, Patni Computer fell by (3.79%) at Rs. 137.10, TCS down by (3.67%) to Rs. 570 and Wipro declined by (2.97%) to Rs. 261.
Infosys Technologies is declining by (4.19%). The company announced its fourth quarter results today. The company’s net profit in Q4 FY09 stood at Rs. 16.13bn as against Rs. 16.41bn in the previous quarter, marking a sequential drop of 1.7%.
Revenue for the fourth quarter is down 2.6% QoQ at Rs56.35bn as against Rs57.86bn in Q3 FY09. Infosys has recommended a final dividend of Rs. 13.5 per share.
However, the broader market stocks are also in demand in the early trade and have outperformed the benchmark index as both the BSE Mid Cap and the BSE Small Cap are trading with a gain of more than 2% each.
The IT, Oil & Gas and Metal stocks are witnessing some selling pressure in the early trade.
At 10.34AM, the BSE Sensex was down by 77.72 points at 10,889.50 and the Nifty was down by 23.30 points to 3,359.30.
The BSE Mid Cap increased by 71.12 points to 3,536.04 and the BSE Small Cap grew by 101.90 points to 4,017.06.
The Asian markets are trading lower today as Hang Seng, Nikkei 255, Seoul Composite and Straits Times index are trading down by (2.08%), (1.54%), (2.21%) and (2.06%) respectively.
The US stock markets on Tuesday ended in red led by financial stocks that fell out of favor and disappointing retail sales data. Further the earnings results fell to provide any leadership today.
The financial stocks ended the session with a 7.7% loss after Goldman Sachs announced a $5 billion common equity offering that was discounted from the prior session''s closing price. The Dow Jones Industrial Average (DJIA) dropped by 137.63 points to close at 7,920.18.
The NASDAQ Composite (RIXF) index decreased by 27.59 points to close at 1,625.72 and the S&P 500 (SPX) fell by 17.23 points to close at 841.50.
Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.28%) at Rs. 263 while Sterlite Industries reported the top loser down by (5.32%) at Rs. 402.50.
The overall market breadth is positive as 1210 stocks are advancing while 464 stocks are declining on BSE.
BSE Realty index is trading higher by 14.68 points or (0.69%) to trade at 2,140.44. The top gainers are Omaxe Ltd. increased by (2.94%) to Rs.61.30, Mahindra Life up by (2.44%) to Rs.185, HDIL inclined by (2.80%) to Rs.141.50 followed by Sobha Developers grew by (2.07%) to Rs. 103.70.
BSE IT index is trading lower by 113.34 points or (4.56%) at 2,373.69. The major losers are Infosys Technologies down by (4.19%) to Rs. 1,350, Patni Computer fell by (3.79%) at Rs. 137.10, TCS down by (3.67%) to Rs. 570 and Wipro declined by (2.97%) to Rs. 261.
Infosys Technologies is declining by (4.19%). The company announced its fourth quarter results today. The company’s net profit in Q4 FY09 stood at Rs. 16.13bn as against Rs. 16.41bn in the previous quarter, marking a sequential drop of 1.7%.
Revenue for the fourth quarter is down 2.6% QoQ at Rs56.35bn as against Rs57.86bn in Q3 FY09. Infosys has recommended a final dividend of Rs. 13.5 per share.
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