Further slide in US markets yesterday, record oil prices
and a rate hike in Japan have worsened the sentiment across
global equity markets. All Asian indices have lost substantial
ground and India is no exception.
opened at 10783 and slumped to a low of 10603. The index
is trading lower by 230 points at 10629 at 11.10 AM.
opened at 3166 and touched a low of 3101. The index is
trading lower by 61 points at 3109.
marketing stocks are under severe pressure for the fourth
day as crude oil prices have touched all-time highs. BPCL
is the biggest loser among index stocks, trading more
than 5 per cent lower. HPCL is down nearly 3.5 per cent.
stocks are also under pressure as another fuel price hike
may affect auto demand. Tata Motors is down 4 per cent
and Maruti has given up nearly 3 per cent.
two-wheelers, Bajaj Auto has slipped 4 per cent and Hero
Honda has shed another per cent.
stocks continue to be weak on expectations of further
interest rate hikes. OBC has lost close to 4 per cent
and PNB is down nearly 3 per cent. HDFC Bank is continuing
its losing trend and has lost another 3 per cent.
is the major loser among metals and is down more than
4 per cent.
Industries is down more than 1.5 per cent in early trades.
Satyam Computers and VSNL are the other major losers,
all trading around 3 per cent each lower.
Technologies is the only significant gainer among index
stocks, trading nearly 1.5 per cent higher. ONGC is trading
with very marginal gains.
and small caps have also lost ground in early trades but
losses are considerably lower than the large cap stocks.
Stocks of some of the companies which are expected to
announce good results are doing well.
mid-cap index is now trading with losses of around 1.2
per cent. Market breadth on the NSE is highly negative
in early trades with more than 3 stocks declining for
every advancing stock. BSE mid-cap and small-cap indices
are also trading with losses of nearly a per cent each.
Balakrishnan, Onward Technologies, D-Link, BSEL Infrastructure,
Eimco Electronics, Shyam Telecom and Century Plywood are
among the major mid-cap gainers.
Tata Coffee, Unitech, Tips Industries Mukta Arts and Bharat
Gears are the major mid-cap losers.