The market continues to trade lower on account of heavy selling pressure observed across the board led by the profit booking. Domestic market opened weak on negative global cues as fears of slowdown in the economy have gripped global markets. US government’s move to infuse another $250 billion in the system failed to lift sentiments. Worries about the earning also crept in after government''s plan to buy stakes in the nation''s largest financial institutions that are crashed. All sectoral indices are trading down and Capital Goods stocks underperformed the benchmark index as trading with cut of more than 7%. Apart from that heavy selling is witnessed in the Metal, IT, Consumer Durable and Auto stocks. The BSE Sensex is trading below the 11,100 mark and the NSE Nifty is around the 3400. The BSE Mid Cap and the BSE Small Cap stocks also are also continuing to lose ground as trading with loss of more than 3% each.
On the global market front, the Asian markets dropped on concern that the rescue would come at a huge economic cost. South Korea''s Kospi plunged 2.7% followed by Hang Seng index lost 2.3% along with Singapore''s Straits Times index shed 2.3% and Nikkei dropped 0.9%.
The overall market breadth is negative as 1849 stocks are declining while 469 stocks are advancing and the 49 stocks remained unchanged on BSE.
L&T Ltd reported the top loser from the BSE Sensex pack as it was trading down by (9.54%) at Rs.907.95 followed by JP Associates lower by (8.47%) at Rs.77.8.
The BSE Mid cap is lower by 127 points at 3,764.9 and the BSE small Cap lost 152 points to trade at 4,463.74.
At 12.30 pm, BSE Sensex was at 11,027.89 down by 455 points and the NSE Nifty was at 3,407.8 lower by 110 points.
BSE Capital Goods index dropped by 559.93 points at 8,316.27 as L&T Ltd (8.83%), BEML Ltd (8.50%), Thermax Ltd (8.38%), BHEL (7.43%) and Punj Lloyd (6.96%) are trading in red.
BSE Metal index is trading lower by 391.42 points to 6460.29. The main losers are Jindal Steel (9.21%), JSW Steel (9.03%), Sterlite Industries (7.23%) and Tata Steel (7.15%).
BSE Bankex index is trading lower by 185.12 points at 5,852.95. Losers are ICICI Bank (7.03%), IDBI Bank Ltd (6.85%), Yes Bank (6.01%) and Karnataka Bank (5%).
BSE Oil & Gas index is trading 168.25 points down at 7,455.15 as Essar Oil (13.66%), Aban Offshore (8.63%), Cairn Ind (4.55%) and Reliance Natural Resources (2.94%) are trading in negative.
BSE Consumer Durables index decreased by 148.77 points to 2,181.99. Leading to its fall are Titan Ind (10.15%), Videocon Ind (6.93%), Rajesh Export (5.93%) and Gitanjali GE (3.63%).
BSE IT index lost 131.37 points to trade at 2,808.5. The major losers are Aptech Ltd (13.95%), Moser Bayer (11.65%), Tech Mahindra (9.19%) and NIIT Ltd (5.42%).
BSE Auto index declined by 117.38 points to trade at 3,311.37 as Bajaj Auto (7.93%), MAruti Suzuki (5.58%), Tata Motors (4.67%) and Amtek Auto (4.54%) trading in negative.
BSE Reality index was trading 115.03 points lower at 2,689.71. The main losers are Indiabull Real (11.38%), Orbit Co (9.98%), Housing Dev (6.65%) and Akruti City (6.46%).
On the global market front, the Asian markets dropped on concern that the rescue would come at a huge economic cost. South Korea''s Kospi plunged 2.7% followed by Hang Seng index lost 2.3% along with Singapore''s Straits Times index shed 2.3% and Nikkei dropped 0.9%.
The overall market breadth is negative as 1849 stocks are declining while 469 stocks are advancing and the 49 stocks remained unchanged on BSE.
L&T Ltd reported the top loser from the BSE Sensex pack as it was trading down by (9.54%) at Rs.907.95 followed by JP Associates lower by (8.47%) at Rs.77.8.
The BSE Mid cap is lower by 127 points at 3,764.9 and the BSE small Cap lost 152 points to trade at 4,463.74.
At 12.30 pm, BSE Sensex was at 11,027.89 down by 455 points and the NSE Nifty was at 3,407.8 lower by 110 points.
BSE Capital Goods index dropped by 559.93 points at 8,316.27 as L&T Ltd (8.83%), BEML Ltd (8.50%), Thermax Ltd (8.38%), BHEL (7.43%) and Punj Lloyd (6.96%) are trading in red.
BSE Metal index is trading lower by 391.42 points to 6460.29. The main losers are Jindal Steel (9.21%), JSW Steel (9.03%), Sterlite Industries (7.23%) and Tata Steel (7.15%).
BSE Bankex index is trading lower by 185.12 points at 5,852.95. Losers are ICICI Bank (7.03%), IDBI Bank Ltd (6.85%), Yes Bank (6.01%) and Karnataka Bank (5%).
BSE Oil & Gas index is trading 168.25 points down at 7,455.15 as Essar Oil (13.66%), Aban Offshore (8.63%), Cairn Ind (4.55%) and Reliance Natural Resources (2.94%) are trading in negative.
BSE Consumer Durables index decreased by 148.77 points to 2,181.99. Leading to its fall are Titan Ind (10.15%), Videocon Ind (6.93%), Rajesh Export (5.93%) and Gitanjali GE (3.63%).
BSE IT index lost 131.37 points to trade at 2,808.5. The major losers are Aptech Ltd (13.95%), Moser Bayer (11.65%), Tech Mahindra (9.19%) and NIIT Ltd (5.42%).
BSE Auto index declined by 117.38 points to trade at 3,311.37 as Bajaj Auto (7.93%), MAruti Suzuki (5.58%), Tata Motors (4.67%) and Amtek Auto (4.54%) trading in negative.
BSE Reality index was trading 115.03 points lower at 2,689.71. The main losers are Indiabull Real (11.38%), Orbit Co (9.98%), Housing Dev (6.65%) and Akruti City (6.46%).
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