yesterday's 4 per cent fall, indices opened the day with
modest gains before slumping again. Sensex dropped more
than 150 points before recovering and going back into
recovery was short-lived as continuing weakness across
most Asian markets pulled down the indices once again.
Gains in cement, FMCG and select metal stocks are not
enough to support the indices.
decline in international metal prices in Asian trades
today is affecting metal stocks.
opened at 11861 and touched a low of 11645 before recovering.
The index is trading lower by 140 points at 11682 at 11.10
opened at 3503, touched a low of 3442 and is trading lower
by 45 points at 3458.
Steel is the biggest loser among index stocks and is trading
more than 4 per cent lower. The stock has lost nearly
9 per cent in just two sessions. SAIL has lost close to
a per cent.
declining substantially in opening trades, aluminium stocks
recovered after Hindalco announced a product price hike
before slipping again. Hindalco is now trading around
2 per cent lower while Nalco is trading flat.
stocks have also come down in early trades. ABB is trading
more than 3 per cent lower while L&T has lost close
to 3 per cent.
is the biggest loser among oil and gas stocks, trading
more than 3 per cent lower. HPCL has also lost nearly
3 per cent.
Industries is flat after three days of correction while
ONGC has lost close to 2 per cent.
is continuing its down trend and has lost another 5 per
cent. The stock is trading around Rs75.
Energy, Tata Power and Cipla are among the other losers.
stocks have made a recovery in early trades, helped by
reports that there would be only a 5 per cent reduction
in cement prices in response to the government's move
to bring down prices.
Ambuja is the biggest gainer among index stocks, trading
over 2 per cent higher. ACC has added over a per cent
while Grasim is trading with marginal gains.
stocks have made a comeback in early trades. Dabur has
recovered from yesterday's sharp fall and is trading more
than a per cent higher. ITC has added nearly 0.5 per cent
while HLL has gained modestly.
are also considerably weak in early trades as many high
profile stocks have come down substantially. The index
is trading with
losses of more than 2 per cent. Market breadth on the
NSE is highly negative with more than 3 stocks declining
for every advancing stock.
Hume Pipe, Karur Vysya Bank and Godrej Industries are
among the major gainers in mid-caps.
Hindustan, PVR, Monnet Ispat, Essar Oil and TVS Motor
are among the mid-cap losers.