showing some promise of a bounce back in opening trades,
indices have slipped substantially in early afternoon.
No sight of a recovery in Asian markets and a complete
lack of buying interest have pulled down the indices below
levels seen during the crash of May 29.
markets have opened with modest gains, but that may not
be enough to reverse the sentiment.
is trading lower by 224 points at 9733 at 01.10 PM.
is trading lower by 73 points at 2864.
stocks have slipped further after the morning weakness
on fears of a roll back of the fuel price hike. Indian
Oil has dropped more than 10 per cent. BPCL is down 5.5
per cent while HPCL is trading nearly 6 per cent lower.
is trading nearly 4 per cent lower at below Rs1,000 and
is exerting considerable pressure on the indices. Gail
has also lost nearly 5 per cent.
Industries is trading more than a per cent lower. Among
standalone refineries, RPL has lost 2.5 per cent. Essar
Oil is down more than 6 per cent while MRPL has shed 5.5
Technologies is down more than 5 per cent for the second
day and is now down by more than 6 per cent. Infosys has
lost 1.5 per cent while TCS is down 2.5 per cent. Satyam
and Wipro have given up 2 per cent each.
has slipped substantially in early afternoon trades and
is now the biggest loser among index stocks. The stock
is trading nearly 10 per cent lower.
is another major loser in early afternoon trades and has
slipped over 6 per cent. Reliance Communication is also
down over 6 per cent while MTNL has given up 2.5 per cent.
has also lost further ground and is trading nearly 7 per
cent lower. Siemens has given up 3.5 per cent.
is the biggest loser among metal stocks, trading nearly
5.5 per cent lower. Tata Steel has lost close to 4 per
cent. Hindalco is down 3.5 per cent while Nalco has given
up close to 2 per cent.
Tele has slipped more than 4.5 per cent.
among the Nifty stocks are holding on to their gains,
despite the decline in indices. SCI is the biggest gainer,
trading more than a per cent higher.
has added nearly 0.5 per cent while Dabur is trading with
have also lost further ground after the weak opening.
The index has slipped below 3850 and is now trading with
losses of around 5 per cent. Market breadth on the NSE
continues to be extremely negative with more than 25 stocks
declining for every advancing stock.
IL&FS Investsmat, Bhagyanagar Metals and Hindustan
Motors are among the gainers in mid-caps.
Piramyd Retail, Agro Dutch Foods, EID Parry, Indo-Rama
Textiles and Prime Securities are among the mid-cap losers,
all trading with losses of over 10 per cent each.