The markets are trading lower as selling pressure continued among the selective scrips mainly led by the Banking, IT, Metal, Consumer Durables and IT stocks. Further the selling pressure intensified after the government announced the IIP number for the month of June that came in at 5.4% as against 8.9% (YoY). India''s infrastructure sector output grew 3.4% in June 2008 from a year earlier, slightly below 3.5% annual growth in May 2008. The infrastructure sector accounts for 26.68% of India''s industrial output.
The overall market breadth is negative as 954 stocks are advancing while 1389 stocks are declining and the 93 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 21.42 points at 5,961.26 and the BSE small Cap is down by 18.90 points to trade at 7,252.45.
At 12.30 pm, BSE Sensex was at 15,305.56 down by 198.36 points and the NSE Nifty was at 4,570.75 down by 49.65 points.
BSE Metal index dropped by 195.05 points at 12,941.19 as Sterlite Industries (3.18%), Jindal Steel (2.33%), Tata Steel (1.38%) and Ispat Industries (1.24%) are trading in red.
BSE Bankex index is trading lower by 212.20 points at 7,490.15. Losers are ICICI Bank (3.34%), PNB (3.14%), Bank of Baroda (2.50%) and AXIX Bank (2.21%).
BSE Realty index slipped by 79.49 points to 5,719.88. The major losers are HDIL (2.28%), Sobha Developers (1.79%), Omaxe Ltd. (1.59%) and Parsavnath (1.19%).
BSE Auto index decreased by 62.69 points to 3,994.81. The top losers are Maruti Suzuki (4.29%), Tata Motors (2.05%), Ashok Leyland (2.08%) and Bajaj Auto (0.76%).
BSE Oil & Gas index was trading 7.35 points higher at 10,444.62 as BPCL (2.61%), Indian Oil (1.77%), HPCL (1.12%) and Cairn India (1.05%) are trading in positive.
BSE IT index declined by 74.38 points to trade at 3,807.69 as Infosys Technologies (3.72%), HCL Technologies (0.92%), TCS (0.77%) and Wipro (0.54%) trading in negative.
BSE Power index decreased by 22.78 points to 2,741.91. Losers are Tata Power (2.77%), Torent Power (1.49%), Suzlon Energy (1.08%) and GVK Power (1.55%).
BSE Capital goods index dropped by 116.17 points to 12,730.28. The main losers are Punj Lloyd (1.57%), BHEL (1.14%), L&T (0.62%) and ABB (0.66%).
The overall market breadth is negative as 954 stocks are advancing while 1389 stocks are declining and the 93 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 21.42 points at 5,961.26 and the BSE small Cap is down by 18.90 points to trade at 7,252.45.
At 12.30 pm, BSE Sensex was at 15,305.56 down by 198.36 points and the NSE Nifty was at 4,570.75 down by 49.65 points.
BSE Metal index dropped by 195.05 points at 12,941.19 as Sterlite Industries (3.18%), Jindal Steel (2.33%), Tata Steel (1.38%) and Ispat Industries (1.24%) are trading in red.
BSE Bankex index is trading lower by 212.20 points at 7,490.15. Losers are ICICI Bank (3.34%), PNB (3.14%), Bank of Baroda (2.50%) and AXIX Bank (2.21%).
BSE Realty index slipped by 79.49 points to 5,719.88. The major losers are HDIL (2.28%), Sobha Developers (1.79%), Omaxe Ltd. (1.59%) and Parsavnath (1.19%).
BSE Auto index decreased by 62.69 points to 3,994.81. The top losers are Maruti Suzuki (4.29%), Tata Motors (2.05%), Ashok Leyland (2.08%) and Bajaj Auto (0.76%).
BSE Oil & Gas index was trading 7.35 points higher at 10,444.62 as BPCL (2.61%), Indian Oil (1.77%), HPCL (1.12%) and Cairn India (1.05%) are trading in positive.
BSE IT index declined by 74.38 points to trade at 3,807.69 as Infosys Technologies (3.72%), HCL Technologies (0.92%), TCS (0.77%) and Wipro (0.54%) trading in negative.
BSE Power index decreased by 22.78 points to 2,741.91. Losers are Tata Power (2.77%), Torent Power (1.49%), Suzlon Energy (1.08%) and GVK Power (1.55%).
BSE Capital goods index dropped by 116.17 points to 12,730.28. The main losers are Punj Lloyd (1.57%), BHEL (1.14%), L&T (0.62%) and ABB (0.66%).
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