The market is continuing to extend its losses on account of heavy selling pressure seen across board led by further slump in Asian markets. Domestic market is witnessing deeper crack after a negative opening on weak global cues. Fears of recession and deteriorating earnings by the US companies pulled the equity markets all over the world.
Major contributors to the selling pressure are Oil & Gas, Metal, Capital Goods, Bank, Reality, IT and Auto stocks. However, most of the buying is seen in FMCG stocks. BSE Sensex is trading below the 10,300 mark and the NSE Nifty is below the 3,100. The BSE Mid Cap and Small Cap stocks are also trading in red with drop of more than 2% and 1% respectively.
Indian rupee opened at Rs49.27 per dollar as against Tuesday’s close of Rs 49.04. Further, it hit an the low of Rs49.49 a dollar due to the high dollar demand from importers and capital outflows by the foreign funds.
On the global market front, the Asian markets are extending their losses. Nikkei 225 Average fell 5.1% to 8,828.54 and the Hang Seng Index lost 2.4% to 14,676.96 followed by South Korea''s Kospi dropped 2.2% to 1,170.03.
The overall market breadth is negative as 1540 stocks are declining while 664 stocks are advancing and the 72 stocks remained unchanged on BSE.
TCS Ltd reported the top loser from the BSE Sensex pack as it was trading down by (7.86%) at Rs.517.00 followed by Reliance Communication Ltd lower by (7.67%) at Rs.238.40.
The BSE Mid cap is lower by 79 points at 3,507.96 and the BSE small Cap lost 68 points to trade at 4,127.68.
At 12.30 pm, BSE Sensex was at 10,246.37 down by 437 points and the NSE Nifty was at 3,082.80 lower by 152 points.
BSE Oil & Gas index is trading 350.80 points down at 6,423.48 as Cairn India (9.58%), BPCL (8.62%), HPCL (6.80%) and Gail India (6.05%) are trading in negative.
BSE Metal index is trading down by 337.15 points to 5,764.61. The main losers are Jindal Steel (8.60%), Nalco (8.40%), JSW Steel (7.46%) and Tata Steel (7.08%).
BSE Capital Goods index plunged 294.74 points at 7,268.68 as Areva (80.55%), Praj Indus (7.55%), SKF India (5.81%) and L&T Ltd (5.23%) are trading in red.
BSE Bankex index is trading lower by 189.45 points at 5,652.78. Losers are Union Bank (5.44%), ICICI Bank (5.36%), Punjab National Bank (4.73%) and SBI (4.31%).
BSE Reality index decreased by 148.67 points to 2,484.26. Losers are Indiabull Real (9.42%), Unitech Ltd (7.92%), Pheonix Mill (7.59%) and Housing Dev (6.04%).
BSE IT index dropped by 132.95 points to 2,773.88. The major losers are HCL Tech (11.99%), Aptech Ltd (8.36%), TCS Ltd (7.90%) and Oracle Fin (6.95%).
BSE Auto index declined by 121.86 points to trade at 3,001.41 as Amtek Auto (8.83%), M&M Ltd (6.52%), Bajaj Auto (6.24%) and Tata Motors (6.12%) are trading in negative.
BSE Pharma index was trading 93.25 points lower at 3,210.57. The main losers are Piramal Health (7.97%), Glenmark Pharma (7.67%), Orchid Chem (6.78%) and Dr Reddy’s Lab (6.51%).
Major contributors to the selling pressure are Oil & Gas, Metal, Capital Goods, Bank, Reality, IT and Auto stocks. However, most of the buying is seen in FMCG stocks. BSE Sensex is trading below the 10,300 mark and the NSE Nifty is below the 3,100. The BSE Mid Cap and Small Cap stocks are also trading in red with drop of more than 2% and 1% respectively.
Indian rupee opened at Rs49.27 per dollar as against Tuesday’s close of Rs 49.04. Further, it hit an the low of Rs49.49 a dollar due to the high dollar demand from importers and capital outflows by the foreign funds.
On the global market front, the Asian markets are extending their losses. Nikkei 225 Average fell 5.1% to 8,828.54 and the Hang Seng Index lost 2.4% to 14,676.96 followed by South Korea''s Kospi dropped 2.2% to 1,170.03.
The overall market breadth is negative as 1540 stocks are declining while 664 stocks are advancing and the 72 stocks remained unchanged on BSE.
TCS Ltd reported the top loser from the BSE Sensex pack as it was trading down by (7.86%) at Rs.517.00 followed by Reliance Communication Ltd lower by (7.67%) at Rs.238.40.
The BSE Mid cap is lower by 79 points at 3,507.96 and the BSE small Cap lost 68 points to trade at 4,127.68.
At 12.30 pm, BSE Sensex was at 10,246.37 down by 437 points and the NSE Nifty was at 3,082.80 lower by 152 points.
BSE Oil & Gas index is trading 350.80 points down at 6,423.48 as Cairn India (9.58%), BPCL (8.62%), HPCL (6.80%) and Gail India (6.05%) are trading in negative.
BSE Metal index is trading down by 337.15 points to 5,764.61. The main losers are Jindal Steel (8.60%), Nalco (8.40%), JSW Steel (7.46%) and Tata Steel (7.08%).
BSE Capital Goods index plunged 294.74 points at 7,268.68 as Areva (80.55%), Praj Indus (7.55%), SKF India (5.81%) and L&T Ltd (5.23%) are trading in red.
BSE Bankex index is trading lower by 189.45 points at 5,652.78. Losers are Union Bank (5.44%), ICICI Bank (5.36%), Punjab National Bank (4.73%) and SBI (4.31%).
BSE Reality index decreased by 148.67 points to 2,484.26. Losers are Indiabull Real (9.42%), Unitech Ltd (7.92%), Pheonix Mill (7.59%) and Housing Dev (6.04%).
BSE IT index dropped by 132.95 points to 2,773.88. The major losers are HCL Tech (11.99%), Aptech Ltd (8.36%), TCS Ltd (7.90%) and Oracle Fin (6.95%).
BSE Auto index declined by 121.86 points to trade at 3,001.41 as Amtek Auto (8.83%), M&M Ltd (6.52%), Bajaj Auto (6.24%) and Tata Motors (6.12%) are trading in negative.
BSE Pharma index was trading 93.25 points lower at 3,210.57. The main losers are Piramal Health (7.97%), Glenmark Pharma (7.67%), Orchid Chem (6.78%) and Dr Reddy’s Lab (6.51%).
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