The markets opened sharply lower today tracking weak global cues. The Asian markets are also trading with significant loss. The significant selling witnessed among the rate sensitive stocks ahead of the Reserve Bank of India’s annual credit policy meet. The BSE Sensex is trading around the 10,900 mark and the NSE Nifty around the 3,350 mark in the early trade.
The Capital Goods, Pharma, Consumer Durables and Auto stocks are also lost grounds today. However some bit of buying witnessed among the FMCG stocks.
BSE Sensex was down by 88.79 points at 10,890.71 and the Nifty was down by 20.95 points to 3,356.15.
The BSE Mid Cap decreased by 21.53 points to 3,507.38 and the BSE Small Cap fell by 17.12 points to 3,994.03.
TCS is trading lower by (0.29%). The company reported slower growth in net profit and revenues in the March quarter. However the company issued a 1:1 bonus to the shareholders. The company’s net profit grew 4.6% year- on-year to Rs 1,314 crore, while revenues grew 17.7% to Rs 7,171.8 crore in the fourth quarter of FY09.
The Asian markets are trading lower today as Hang Seng, Nikkei 255, Straits Times and Seoul Composite index are trading down by (3.72%), (2.53%), (2.75%) and (0.49%) respectively.
The US stock markets on Monday ended sharply lower with the financials finished 11.4% lower after Bank of America reported that its first quarter credit loss provisions totaled $13.4 billion, up almost $5 billion from the fourth quarter. Bank of America actually generated pretax, preprovision income of $19 billion, which exceeded expectations. Diversified banks finished 15.6% lower and diversified services stocks sank 15.9%. The Dow Jones Industrial Average (DJIA) dropped by 289.60 points to close at 7,841.63. The NASDAQ Composite (RIXF) index decreased by 64.86 points to close at 1,608.21 and the S&P 500 (SPX) fell by 37.21 points to close at 832.39.
Hindalco Industries reported the top gainer from the BSE Sensex pack, as it is trading higher by (1.87%) at Rs. 54.55 while Sterlite Industries reported the top loser down by (4.19%) at Rs. 382.55.
The overall market breadth is negative as 632 stocks are advancing while 949 stocks are declining on BSE.
BSE Bank index is trading lower by 105.68 points or (1.93%) to trade at 5,367.77. The top losers are Kotak Bank decreased by (4.12%) to Rs.382.10, AXIS Bank down by (3.19%) to Rs.494, ICICI Bank declined by (2.91%) to Rs.414.15 followed by SBI down by (1.66%) to Rs. 1,274.50.
BSE Capital Goods index is trading lower by 109.86 points or (1.38%) at 7,872.38. The major losers are AIA Engineering down by (2.47%) to Rs. 165.70, ABB fell by (1.84%) at Rs. 537.55, L&T down by (1.97%) to Rs. 866.50 and Reliance Industrial Infra declined by (1.34%) to Rs. 742.60.
The Capital Goods, Pharma, Consumer Durables and Auto stocks are also lost grounds today. However some bit of buying witnessed among the FMCG stocks.
BSE Sensex was down by 88.79 points at 10,890.71 and the Nifty was down by 20.95 points to 3,356.15.
The BSE Mid Cap decreased by 21.53 points to 3,507.38 and the BSE Small Cap fell by 17.12 points to 3,994.03.
TCS is trading lower by (0.29%). The company reported slower growth in net profit and revenues in the March quarter. However the company issued a 1:1 bonus to the shareholders. The company’s net profit grew 4.6% year- on-year to Rs 1,314 crore, while revenues grew 17.7% to Rs 7,171.8 crore in the fourth quarter of FY09.
The Asian markets are trading lower today as Hang Seng, Nikkei 255, Straits Times and Seoul Composite index are trading down by (3.72%), (2.53%), (2.75%) and (0.49%) respectively.
The US stock markets on Monday ended sharply lower with the financials finished 11.4% lower after Bank of America reported that its first quarter credit loss provisions totaled $13.4 billion, up almost $5 billion from the fourth quarter. Bank of America actually generated pretax, preprovision income of $19 billion, which exceeded expectations. Diversified banks finished 15.6% lower and diversified services stocks sank 15.9%. The Dow Jones Industrial Average (DJIA) dropped by 289.60 points to close at 7,841.63. The NASDAQ Composite (RIXF) index decreased by 64.86 points to close at 1,608.21 and the S&P 500 (SPX) fell by 37.21 points to close at 832.39.
Hindalco Industries reported the top gainer from the BSE Sensex pack, as it is trading higher by (1.87%) at Rs. 54.55 while Sterlite Industries reported the top loser down by (4.19%) at Rs. 382.55.
The overall market breadth is negative as 632 stocks are advancing while 949 stocks are declining on BSE.
BSE Bank index is trading lower by 105.68 points or (1.93%) to trade at 5,367.77. The top losers are Kotak Bank decreased by (4.12%) to Rs.382.10, AXIS Bank down by (3.19%) to Rs.494, ICICI Bank declined by (2.91%) to Rs.414.15 followed by SBI down by (1.66%) to Rs. 1,274.50.
BSE Capital Goods index is trading lower by 109.86 points or (1.38%) at 7,872.38. The major losers are AIA Engineering down by (2.47%) to Rs. 165.70, ABB fell by (1.84%) at Rs. 537.55, L&T down by (1.97%) to Rs. 866.50 and Reliance Industrial Infra declined by (1.34%) to Rs. 742.60.
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