The markets have lost significant ground are trading near day's low with heavy selling pressure in banking and IT stocks. Selling is also seen in real estate and metal stocks. Cues from Asian markets were not very encouraging with most of the Asia trading lower. Indian markets have underperformed its Asian peers on account of concerns over high inflation of 6.67%.US markets plunged 86 points on Friday; on fears of slowing consumer spending.
Sensex is down 600 odd points and Nifty is trading with a loss of 170 points breaching the 4,750 mark. Midcap index is trading in red
with significant losses and smallcap index is trading in red. At 1.50 hrs IST, the Sensex is down 641.05 points or 3.92% at 15730.24, and the Nifty down 186.50 points or 3.77% at 4755.50.
About 1573 shares have advanced, 1432 shares declined, and 59 shares are unchanged.
IT index and bankex are down over 5% each; metal, oil and realty indices are down over 3%.
Bank stocks are down as any interest rate cuts in the near future are ruled out to contain inflation. HDFC Bank down 7%, CBoP down 7.5%, South Indian Bank and Yes Bank are down 6%, Axis and Kotak Mahindra Bank are down 6.5%.
IT index was down over 5%; as rupee as strengthened against the dollar. It is trading at 39.875 against the dollar.
Infosys, Cairn, TCS, HDFC Bank, ICICI Bank were down over 6%, Grasim was down over 5%. L&T and SAIL were down nearly 4%. DLF, SBI, RPL, L&T, Reliance Energy, Wipro, Unitech were among the other losers.
Hero Honda, ITC, Hindalco, Cipla were among the few frontline gainers on the indices.
Dealing Room Check by Nimesh Shah
* Lack of buying interest among institutional investors
* Flows mixed; buy/sell ratio 1:2
* Domestic fund on sidelines; marginal nibbling by insurance cos
* Markets nervous bcz of ICAI ruling and high inflation
* Market expecting strong fiscal steps by govt to curb inflation
12:54 pm: The markets have lost further ground and they continue to trade near the day's low. Frontline indices have underperformed the broader markets. Heavy selling is seen in real estate, banking, technology and metal stocks. Cues from Asian markets were not very encouraging with most of the Asia trading lower. IT stocks are worst hit today accompanied with bank stocks; metal, oil and realty indices are down over 3%. US markets plunged 86 points on Friday; on fears of slowing consumer spending.
Sensex is down 600 odd points and Nifty is trading with a loss of over 160 points below the 4800 mark. Midcap index is trading in red with moderate losses and smallcap index is trading marginally in green. At 12.54 hrs IST, the Sensex is down 603.56 points or 3.69% at 15767.73, and the Nifty down 173.25 points or 3.51% at 4768.75. About 1662 shares have advanced, 1331 shares declined, and 71 shares are unchanged. Bank stocks are down as any interest rate cuts in the near future are ruled out to contain inflation.
HDFC Bank down 7%, CBoP down 7.5%, South Indian Bank and Yes Bank are down 6%, Axis and Kotak Mahindra Bank are down 6.5%. IT index was down over 5%; as rupee as strengthened against the dollar. It is trading at 39.875 against the dollar. Infosys, Cairn, TCS, HDFC Bank, ICICI Bank were down over 6%, Grasim was down over 5%. L&T and SAIL were down nearly 4%. DLF, SBI, RPL, L&T, Reliance Energy, Wipro, Unitech were among the other losers. Hero Honda, ITC, Hindlaco, Cipla were among the few frontline gainers on the indices. Dealing Room Check by Nimesh Shah * Lack of buying interest among institutional investors
* Flows mixed; buy/sell ratio 1:2
* Domestic fund on sidelines; marginal nibbling by insurance cos
* Markets nervous bcz of ICAI ruling and high inflation
* Market expecting strong fiscal steps by govt to curb inflation
11:41 am: Mkt trades near day's low: Sensex below 16,000 It has been a weak session for markets as they are trading near the day's low. Frontline indices have underperformed the broader markets. Heavy selling is seen in real estate, banking, technology and metal stocks. Cues from Asian markets were not very encouraging with most of the Asia trading lower.
US markets plunged 86 points on Friday; on fears of slowing consumer spending. Sensex is down 400 odd points and Nifty is trading with aloss of over 100 points. Midcap index is trading flat and smallcap index is trading marginally in green. At 11.41 hrs IST, the Sensex is down 402.18 points or 2.46% at 15969.11, and the Nifty down 110.25 points or 2.23% at 4831.75.
About 1797 shares have advanced, 1199 shares declined, and 68 shares are unchanged. BSE IT index is down 4.5%; as rupee as strengthened against the dollar. It is trading at 39.875 against the dollar. Infosys, Cairn were down over 6%, Grasim, HDFC Bank were down over 5%. DLF, SBI, RPL, L&T, Rel Energy, Wipro, Unitech were among the other losers. Hero Honda, ITC, Hindlaoc, Cipla were among the few frontline gainers on the indices.
About 1797 shares have advanced, 1199 shares declined, and 68 shares are unchanged. BSE IT index is down 4.5%; as rupee as strengthened against the dollar. It is trading at 39.875 against the dollar. Infosys, Cairn were down over 6%, Grasim, HDFC Bank were down over 5%. DLF, SBI, RPL, L&T, Rel Energy, Wipro, Unitech were among the other losers. Hero Honda, ITC, Hindlaoc, Cipla were among the few frontline gainers on the indices.
Apply Below this Form
http://www.moreinfo247.com/9899670/CB
1 comment:
GK Forex has been a part of the foreign currency exchange market since 2009, in Coimbatore, India. The company is the brainchild of Gopalakrishnan, a forex trading genius. Investments with GK are gratified via versatile and upscale services
Forex Broker India
Post a Comment