The market takes a sharp U turn to drift down further due to high inflation numbers that touched the double digit figure to stood at 11.05% for the week ended June 7, 2008 as against 8.75% a week earlier. This led to the heavy selling pressures across all the sectoral indices. There are rumors that RBI could come out with some measures to tackle the rise in inflation. Also the political uncertainty in the domestic arena between the UPA and the let parties over the nuclear deal keeps the market on the back gear. This led to heavy selling pressures across the every sectoral indices. But the most selling is witnessed from the Capital goods, bankex and realty baskets.
The overall market breadth is extremely negative, as 1897 stocks are declining while 529 stocks are advancing and the 60 stocks remained unchanged on BSE.
The Mid Cap and Small Cap also followed the benchmark indices to trade on the backfoot. The BSE Mid cap and Small Cap are trading lower by 122.79 points and 149.87 points at 6,107.38 and 7,510.55 respectively.
At 12.30 pm, BSE Sensex was trading lower by 301.87 points at 14,786.11 and Nifty was at 4,409.75 down by 94.5 points.
BSE Metal index is trading lower by 268.74 points at 14,863.12. Losers are Ispat industries (4.21%), Jindal Steel 3.33%), Nalco (3.16%), SH. Precoated (2.92%), Gujarat NRE (2.49%).
BSE Capital goods index trading down by 168.09 points at 11,499.60. Major losers are Praj industries (5.10%), Alstom projects (3.38%), Siemens (3.14%), Suzlon Energy (2.70%), Punj Lloyd (2.51%) and L&T (1.04%).
BSE Realty dropped by 182.35 points to trade at 5,452.25 as HDIL (5.61%), Indiabull Real (5.42%), Penland (5.15%), Sobha Dev (4.37%), Ansal Infra (4.34%), Phoenix mill (4.07%), Akruti City (3.06%) and Unitech (2.92%) trading in red.
BSE Oil & Gas index trading with heavy loss of 298.70 points at 9,620.15. Scrips that rae trading lower are Cairn India (4.49%), Reliance industries (4.05%), RNRL (3.52%), Gail India (3.46%), RPL (3.41%), Aban Offshore (3.01%) and BPCL (1.96%).
BSE Bankex index trading lower by 224.52 points at 6,788.86. Losers are BOI (6.58%), Oriental bank (4.65%), Union bank (4.48%), Canara bank (4.42%), Kotak bank (4.29%), IOB (4.10%) and Allahabad bank (3.13%).
The overall market breadth is extremely negative, as 1897 stocks are declining while 529 stocks are advancing and the 60 stocks remained unchanged on BSE.
The Mid Cap and Small Cap also followed the benchmark indices to trade on the backfoot. The BSE Mid cap and Small Cap are trading lower by 122.79 points and 149.87 points at 6,107.38 and 7,510.55 respectively.
At 12.30 pm, BSE Sensex was trading lower by 301.87 points at 14,786.11 and Nifty was at 4,409.75 down by 94.5 points.
BSE Metal index is trading lower by 268.74 points at 14,863.12. Losers are Ispat industries (4.21%), Jindal Steel 3.33%), Nalco (3.16%), SH. Precoated (2.92%), Gujarat NRE (2.49%).
BSE Capital goods index trading down by 168.09 points at 11,499.60. Major losers are Praj industries (5.10%), Alstom projects (3.38%), Siemens (3.14%), Suzlon Energy (2.70%), Punj Lloyd (2.51%) and L&T (1.04%).
BSE Realty dropped by 182.35 points to trade at 5,452.25 as HDIL (5.61%), Indiabull Real (5.42%), Penland (5.15%), Sobha Dev (4.37%), Ansal Infra (4.34%), Phoenix mill (4.07%), Akruti City (3.06%) and Unitech (2.92%) trading in red.
BSE Oil & Gas index trading with heavy loss of 298.70 points at 9,620.15. Scrips that rae trading lower are Cairn India (4.49%), Reliance industries (4.05%), RNRL (3.52%), Gail India (3.46%), RPL (3.41%), Aban Offshore (3.01%) and BPCL (1.96%).
BSE Bankex index trading lower by 224.52 points at 6,788.86. Losers are BOI (6.58%), Oriental bank (4.65%), Union bank (4.48%), Canara bank (4.42%), Kotak bank (4.29%), IOB (4.10%) and Allahabad bank (3.13%).
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