Sensex down 368 points; metals, banks, realty down
MUMBAI: Intense selling pressure across the board, on the back of weak cues from global peers, kept equities pinned down near crucial support levels. All the sectoral indices were in the negative territory with realty, metals and banks the major under-performing sectors.
The European markets have also opened with gap-down on mounting fears of eurozone debt crisis. There are reports that Greece would miss a deficit target set a few months ago.
Back home, the HSBC India Manufacturing PMI, or Purchasing Managers' Index, slipped to 50.4. India's factory output has slowed to its lowest pace in 30 months in September due to hike in interest rate hikes.
Meanwhile, India's exports maintained their growth momentum in August, 2011, rising by 44.2 per cent year-on-year to $24.3 billion despite the economic woes in European markets..
At 12:45 pm; National Stock Exchange's Nifty was at 4837.30, down 105.95 points or 2.14 per cent. The broader index touched a high of 4879.15 and low of 4823.90 in trade so far.
Bombay Stock Exchange's Sensex was at 16085.45, down 368.31 points or 2.24 per cent. The 30-share index touched intraday low of 16056.33 and high of 16255.97.
BSE Midcap Index was down 1.99 per cent and BSE Smallcap Index slipped 1.47 per cent.
BSE Realty Index was down 3.89 per cent, BSE Metal Index fell 3.63 per cent, BSE Bankex declined 2.96 per cent and BSE Capital Goods Index moved 2.82 per cent lower.
Jindal Steel (-5.61%), DLF (-5.44%), Wipro (-4.64%), Hindalco Industries (-4.60%) and Tata Steel (-4.36%) were amongst the major Nifty losers.
BPCL (3.24%), Reliance Infrastructure (1.91%), Reliance Capital (1.71%), Reliance Power (1.24%) and Reliance Communications (1.11%) were amongst the major gainers.
Shares of Anil Dhirubhai Ambani owned companies moved higher after the CBI, which had said that it was still probing the role of RADAG Chairman Anil Ambani in the 2G scam, has said it has no evidence of his direct involvement in the structuring of different companies and transfer of funds relating to Swan Telecom.
Reliance Power's 3,960 MW Tilaiya Ultra Mega Power Project has become eligible for carbon credits valued at Rs 2000 crore as per accreditation accorded by the Executive Board of the Clean Development Mechanism.
Market breadth was negative on the NSE with 2285 declines against 1023 advances.
The European markets have also been facing selling pressure in line with peers. CAC 40 was down 3.04 per cent and DAX slipped 2.44 per cent.
The European markets have also opened with gap-down on mounting fears of eurozone debt crisis. There are reports that Greece would miss a deficit target set a few months ago.
Back home, the HSBC India Manufacturing PMI, or Purchasing Managers' Index, slipped to 50.4. India's factory output has slowed to its lowest pace in 30 months in September due to hike in interest rate hikes.
Meanwhile, India's exports maintained their growth momentum in August, 2011, rising by 44.2 per cent year-on-year to $24.3 billion despite the economic woes in European markets..
At 12:45 pm; National Stock Exchange's Nifty was at 4837.30, down 105.95 points or 2.14 per cent. The broader index touched a high of 4879.15 and low of 4823.90 in trade so far.
Bombay Stock Exchange's Sensex was at 16085.45, down 368.31 points or 2.24 per cent. The 30-share index touched intraday low of 16056.33 and high of 16255.97.
BSE Midcap Index was down 1.99 per cent and BSE Smallcap Index slipped 1.47 per cent.
BSE Realty Index was down 3.89 per cent, BSE Metal Index fell 3.63 per cent, BSE Bankex declined 2.96 per cent and BSE Capital Goods Index moved 2.82 per cent lower.
Jindal Steel (-5.61%), DLF (-5.44%), Wipro (-4.64%), Hindalco Industries (-4.60%) and Tata Steel (-4.36%) were amongst the major Nifty losers.
BPCL (3.24%), Reliance Infrastructure (1.91%), Reliance Capital (1.71%), Reliance Power (1.24%) and Reliance Communications (1.11%) were amongst the major gainers.
Shares of Anil Dhirubhai Ambani owned companies moved higher after the CBI, which had said that it was still probing the role of RADAG Chairman Anil Ambani in the 2G scam, has said it has no evidence of his direct involvement in the structuring of different companies and transfer of funds relating to Swan Telecom.
Reliance Power's 3,960 MW Tilaiya Ultra Mega Power Project has become eligible for carbon credits valued at Rs 2000 crore as per accreditation accorded by the Executive Board of the Clean Development Mechanism.
Market breadth was negative on the NSE with 2285 declines against 1023 advances.
The European markets have also been facing selling pressure in line with peers. CAC 40 was down 3.04 per cent and DAX slipped 2.44 per cent.
VIVEK KUMAR
PGDM 3rd Sem
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