The market has lost further grounds as selling continued across the board mainly led by the Capital Goods, Bank and It stocks. The broader market also slipped after the inflation numbers came out. The inflation figures that stood at 7% as against earlier numbers of 6.68% adds to the sentiment. It is ahead of markets expectations of 6.52%. The rate is the highest since 4 December 2004. The BSE Sensex is hovering around 15,500 mark and Nifty is around the 4,700 mark.
The overall market breadth is negative, as 814 stocks are advancing while 1592 stocks are declining and the 59 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 82.79 points at 6,304.44 and the BSE small Cap slipped by 73.48 points to trade at 7,766.81.
At 12.50 pm, BSE Sensex was at 15,471.66 down by 360.89 points and Nifty was at 4,681.55 down by 90.10 points.
BSE Oil & Gas index was trading 84.08 points lower at 10,447.80 as ONGC (2.65%), BPCL (1.22%), RPL (0.59%) and Cairn India (0.44%) are trading in red.
BSE Health Care index declined by 9.64 points to trade at 3,878.09 as Sun Pharma (4.07%), Dr.Reddy (2.61%), Cipla (1.73%), Pfizer (1.98%) and Glaxosmith (1.46%) are trading in negative.
BSE Capital goods index dropped by 412.70 points to 12,802.03. The main losers are BHEL (4.73%), L&T (3.41%), ABB (2.99%) and Siemens (0.67%).
BSE Banks index slipped by 178.89 points to trade at 7,641.73. The top losers are HDFC Bank (2.78%), SBI (2.07%), ICICI Bank (2.03%) and PNB (1.39%).
BSE Power index decreased by 56.80 points to trade at 2,998.77 as Reliance Energy (3.11%), NTPC (0.52%) and Tata Power (0.26%) are trading in negative.
BSE IT index fell by 87.23 points to trade at 3,677.83 as Wipro (3.21%), Satyam Computers (3.02%), Infosys Technologies (2.82%) and TCS (2.26%) are trading in red.
BSE Auto index declined by 90.31 points to trade at 4,400.63. Leading to its fall are Mahindra & Mahindra (4.03%), Tata Motors (3.50%), Maruti Suzuki (3.05%).
BSE Metal index dropped by 96.49 points to trade at 13,492.27. The major losers are NALCO (3.09%), Jindal Steel (2.70%), Hindalco Industries (2.31%) and JSW Steel (1.35%).
NALCO has entered into an agreement with Bharat Earth Movers Limited to collaborate for the production of aluminium rail wagons and subsequently, aluminum rail coaches and metro coaches. According to the agreement, the products would be jointly developed by these two companies and Nalco would supply the aluminum extrusions after conversion from its billets and ingots through a third party.
Tata Steel is trading up by (0.96%). The company has decided to cut the prices of long steel products including that of construction-grade TMT bars by Rs2000 per tonne and this cut will be implemented immediately. This cut in steel prices is a part of the package by the Steel minister along with steel producers with an aim to provide relief to the common man.
The overall market breadth is negative, as 814 stocks are advancing while 1592 stocks are declining and the 59 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 82.79 points at 6,304.44 and the BSE small Cap slipped by 73.48 points to trade at 7,766.81.
At 12.50 pm, BSE Sensex was at 15,471.66 down by 360.89 points and Nifty was at 4,681.55 down by 90.10 points.
BSE Oil & Gas index was trading 84.08 points lower at 10,447.80 as ONGC (2.65%), BPCL (1.22%), RPL (0.59%) and Cairn India (0.44%) are trading in red.
BSE Health Care index declined by 9.64 points to trade at 3,878.09 as Sun Pharma (4.07%), Dr.Reddy (2.61%), Cipla (1.73%), Pfizer (1.98%) and Glaxosmith (1.46%) are trading in negative.
BSE Capital goods index dropped by 412.70 points to 12,802.03. The main losers are BHEL (4.73%), L&T (3.41%), ABB (2.99%) and Siemens (0.67%).
BSE Banks index slipped by 178.89 points to trade at 7,641.73. The top losers are HDFC Bank (2.78%), SBI (2.07%), ICICI Bank (2.03%) and PNB (1.39%).
BSE Power index decreased by 56.80 points to trade at 2,998.77 as Reliance Energy (3.11%), NTPC (0.52%) and Tata Power (0.26%) are trading in negative.
BSE IT index fell by 87.23 points to trade at 3,677.83 as Wipro (3.21%), Satyam Computers (3.02%), Infosys Technologies (2.82%) and TCS (2.26%) are trading in red.
BSE Auto index declined by 90.31 points to trade at 4,400.63. Leading to its fall are Mahindra & Mahindra (4.03%), Tata Motors (3.50%), Maruti Suzuki (3.05%).
BSE Metal index dropped by 96.49 points to trade at 13,492.27. The major losers are NALCO (3.09%), Jindal Steel (2.70%), Hindalco Industries (2.31%) and JSW Steel (1.35%).
NALCO has entered into an agreement with Bharat Earth Movers Limited to collaborate for the production of aluminium rail wagons and subsequently, aluminum rail coaches and metro coaches. According to the agreement, the products would be jointly developed by these two companies and Nalco would supply the aluminum extrusions after conversion from its billets and ingots through a third party.
Tata Steel is trading up by (0.96%). The company has decided to cut the prices of long steel products including that of construction-grade TMT bars by Rs2000 per tonne and this cut will be implemented immediately. This cut in steel prices is a part of the package by the Steel minister along with steel producers with an aim to provide relief to the common man.
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