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It was a terrible day for for markets with frontline indices ending with huge losses. It closed near the day's low with heavy selling pressure in banking and IT stocks. Selling was also seen in real estate, oil, power and metal stocks. Cues from Asian markets were not very encouraging with most of the Asia trading lower. Indian markets underperformed its Asian peers on account of concerns over high inflation of 6.67%.
Sensex was down 800 odd points and Nifty is trading with a loss of 200 points breaching the 4,750 mark.
Among the top index losers were HDFC down 10%, HDFC Bank and ICICI Bank down 7.5%; DLF, ONGC down 7%
Among the top non index losers were Indiabulls Finance down 12% Rel Capital down 10%; HDIL and Guj NRE Coke down 7.5%.
IT index and bankex were down 6% each; metal, oil and realty indices are down over 4%.
Bank stocks were 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 trades below the 40 mark against the USD.
Sensex closed down 726.85 points or 4.44% at 15644.44, and the Nifty down 207.50 points or 4.20% at 4734.50.
About 1540 shares have advanced, 1463 shares declined, and 62 shares are unchanged.
The BSE Midcap Index ended at 6,397.21 down 2%.
The BSE Smallcap Index ended at 7,821.04 down 1%.
The BSE Bankex ended at 7,683.34 down 6%. HDFC, HDFC Bank, ICICI Bank, Bank of India, Andhra Bank, Kotak Mahindra, Oriental Bank, Allahabad Bank moved downwards.
The BSE Capital Goods Index closed down 4% at 13,903.45. L&T, BHEL, Suzlon, Astra Microwave, BEML, Crompton Greave, Thermax, Greaves Cotton, Areva T&D closed lower.
The BSE Auto Index closed at 4,494.27 down 2%. Maruti, Bajaj Auto, Escorts, TVS Motor, Amtek Auto, Cummins, Punj Tractors, MRF closed lower.
The BSE Metal Index closed at 13,945.20 down 5%. Hind Zinc, Sterlite, NALCO, Shree Precoated, Mah Seamless, Jindal Steel, Jindal Saw, JindalStainless closed lower.
The BSE FMCG Index closed down 2% at 2,274.65. Colgate, Bata India, Godrej Consumer, HUL, GlaxoSmith Con closed lower.
BSE Oil and Gas Index closed at 9,977.37 down 5%. GAIL, Reliance Natura, HPCL, RPL,ONGC, Reliance, ONGC ended in red
BSE power index closed at 3,175.21 down 4%. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red.
The BSE IT Index was down 6% at 3,534.23. TCS, Infosys, I-Flex Solution, Patni Computer, Financial Tech, Mphasis, Tech Mahindra closed lower.
The NSE cash turnover was at Rs 14472.55 crore and the NSE F&O turnover was at Rs 47200.87 crore. The BSE cash turnover was Rs 5923.76 crore. Total market wide turnover was at Rs 67597.18 crore.
2:45 pm: 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 700 odd points and Nifty is trading with a loss of 200 points breaching the 4,750 mark. Midcap index is trading in red with significant losses and smallcap index is trading in red.
At 2.45 hrs IST, the Sensex is down 666.36 points or 4.07% at 15704.93, and the Nifty down 205.15 points or 4.15% at 4736.85.
About 1568 shares have advanced, 1427 shares declined, and 70 shares are unchanged.
Among the top index losers were HDFC down 10%, HDFC Bank and ICICI Bank down 7.5%; DLF, ONGC down 7%
Among the top non index losers were Indiabulls Finance down 12% Rel Capital down 10%; HDIL and Guj NRE Coke down 7.5%.
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
1:50 pm: 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
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.
10:25 am: Mkts lose further ground: Sensex slips below 16,000
The markets have lost further ground and are trading deep in red. Sensex has breached the 16,00 mark. real estate, banking, technology stocks opened weak. Broader markets have trading moderately in red. Sensex and Nifty are down nearly 2.5% trading near the day's low. Metals, heavyweights are also dragging the markets lower.
At 10.25 hrs IST, the Sensex is down 336.07 points or 2.05% at 16035.22, and the Nifty down 103.85 points or 2.10% at 4838.15.
About 1869 shares have advanced, 1128 shares declined, and 67 shares are unchanged.
Cairn, DLF, Infosys, SBI, RPL, L&T, Rel Energy, Wipro, Unitech were among the top losers on indices.
Cipla, ONGC and Bharti Airtel were in green.
Asian markets were trading weak. Hong Kong's Hang Seng plunged 1.12%, Japan's Nikkei fell 1.50%, Taiwan's Taiwan Weighted was down 1.19%. However, Singapore's Straits Times was up 0.15%. South Korea's Seoul Composite was flat at 1,700.55.
US markets plunged 86 points on Friday; on fears of slowing consumer spending.
10:02 am: The markets opened in red with Sensex down over 200 odd points on the back of negative cues from global peers. It has not been a sharp fall either; real estate, banking, technology stocks opened weak. Broader markets have opened moderately in red.
At 10.02 hrs IST, the Sensex is down 259.25 points or 1.58% at 16112.04, and the Nifty down 69.15 points or 1.40% at 4872.85.
About 1979 shares have advanced, 1012 shares declined, and 73 shares are unchanged.
Cairn, DLF, Infosys, SBI, RPL, L&T, Rel Energy, Wipro, Unitech were among the top losers on indices.
Cipla, ONGC and Bharti Airtel were in green.
Asian markets were trading weak. Hong Kong's Hang Seng plunged 1.12%, Japan's Nikkei fell 1.50%, Taiwan's Taiwan Weighted was down 1.19%. However, Singapore's Straits Times was up 0.15%. South Korea's Seoul Composite was flat at 1,700.55.
US markets plunged 86 points on Friday; on fears of slowing consumer spending.
Market cues:
- FIIs net buy $106.8 m in equity
- MFs net sell Rs 52.2 cr in equity
- NSE F&O Open Interest up Rs 6,753 cr at Rs 48,999 cr
- Govt determined to curb inflation even if they have to live with slower growth
- 8% growth, 4% inflation is the right balance
- RBI will take monetary steps to curb inflation
- Deepak Parekh Says
Rates need to go up to contain inflation but does not expect RBI to hike CRR
F&O cues:
- Futures Open Interest up by Rs 4,058 crore, Options Open Interest up by Rs 2,695 crore
- Stock Futures add 4 cr shares in OI, highest single-day build-up since Jan
- Nifty Futures add 32.5 lakh shares in OI; at 28-pt premium
- Nifty Open Int PCR at 1.44 Vs 1.31
- Nifty Puts add 33.7 lakh shares in Open Interest
- Nifty Calls add 17.3 lakh shares in Open Interest
- Nifty 4500, 4900 Puts add 8 lakh shares each in Open Interest
- Nifty 5000 Call adds 4.5 lakh shares in Open Interest
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