The markets tumbled due to weakness across the sectors especially in realty, metal, oil, capital goods, power and banking stocks. Midcap and small cap stocks have hugely impacted. Market breadth is weak, nearly 1:10. On the global front, Asian markets were trading mixed.
At 10:53 am, the Sensex was down 148 points at 16,588 and the Nifty down 50 points at 4,932. About 663 shares have advanced, 2256 shares declined, and 168 shares are unchanged.
JP Associates, Reliance Infra, Grasim, Reliance Petro and Siemens were top losing counters while Satyam, HDFC, Ranbaxy Labs and Nalco were gainers.
Aishwarya Telecom, Reliance Petro, Reliance Capital and Reliance were most active shares on the exchanges.
Mkts slip further: Realty, oil, metal, midcaps hammer
The market continued its weakness due to selling pressure seen in realty, metal, oil, power, capital goods, banking, pharma and FMCG stocks. Market breadth is weak; only 120 shares advanced while 926 shares declined on the NSE. Midcap and small cap stocks are down. On the gloabal front, Asian markets are still trading mixed.
At 10:19 am, the Sensex was down 150 points at 16,586 and the Nifty down 53 points at 4,929.
Top losers were JP Associates, Reliance Infra, Hindalco, ACC, Reliance Petro and SAIL while gainers - Satyam, Nalco, HCL Tech, TCS, Infosys and Wipro.
Midcap and small caps stocks have hammered a lot, respective indices down over 2.7% each. Bharat Bijlee, GVK Power, IVR Prime, Arshiya Intl, UCO Bank, Bajaj Hind and Motilal Oswal were down 5-8%.
Realty stocks have underperformed the markets, BSE Realty Index was down 3.6% due to selling in DLF, Puravankara Proj, HDIL, Unitech and Indiabulls Real Estate.
Metal stocks also tanked, BSE Metal down 2.7% as Jindal Steel, SAIL, Tata Steel, Hindalco and Hindustan Zinc.
BSE Capital Goods, Power, Bankex and Healthcare were down over 1% each.
However, technology stocks outperformed, IT Index up 0.7%. TCS, Infosys, Satyam, Wipro and HCL Tech were the movers.
Markets open weak; metal, FMCG, banks down
The markets have opened weak following negative global cues and selling pressure in metal and banking space. Midcap and small cap stocks are in red. Market breadth is negative, nearly 167 shares advanced while 719 shares declined.
At 9:56 am, the Sensex was down 97 points at 16639 and the Nifty down 33 points at 4949.
Bharti, Infosys, Reliance Energy, JP Associates, NTPC, Hindalco, SAIL, Tata Steel, HDFC Bank and SBI were losers while gainers - Satyam and ONGC.
Metal stocks were the major losers today as government notifies 15% export duty on pig iron, CR products. SAIL, JSW Steel, Tata Steel and Hindalco were witnessing selling pressure.
Asian markets were trading mixed. Shanghai Composite was down 0.55%, Hang Seng down 1.52%, Jakarata Composite down 0.58% and Seoul Composite down 1.31% while Nikkei 225 Average rose 0.43%, Straits Times up 0.24% and Taiwan Weighted up 0.28%.
US markets fell sending the markets to its first weekly drop in a month as AIG reported huge losses and going to raise money, crude oil surged to a new high. The Dow Jones ended 120.90 points lower at 12745.88 and the Nasdaq shut shop at 2445.52 down 5.72 points.
Market cues:
FIIs net sell USD 99.8 m in equity on May 8
MFs net sell Rs 83.4 cr in equity on May 8
NSE F&O Open Interest unchanged at Rs 69,992 cr
F&O cues:
Futures Open Interest down Rs 1,204 cr
Options Open Interest up Rs 1,200 cr
Nifty Futures add 6.2 lakh shares in OI; at 8-pt premium
Nifty Open Interest PCR at 1.37 Vs 1.38
Nifty Puts add 10.3 lakh shares in Open Interest
Nifty Calls add 9.1 lakh shares in Open Interest
Nifty December 5000 Put adds 2 lakh shares in Open Interest
Nifty May 5000 Put adds 2 lakh shares in Open Interest
Nifty 5100 Put sheds 1.49 lakh shares in Open Interest
Nifty 5100 Call adds 3.7 lakh shares in Open Interest
Nifty 5000 Call adds 3.5 lakh shares in Open Interest
Stock Futures shed 2.5 cr shares in Open Interest
Source : moneycontrol.com
No comments:
Post a Comment