The market is trading lower following the unfavourable global cues and heavy selling across all indices mainly capital goods, metal, banking and oil & gas counters led the Sensex to fall below 17,000 mark while Nifty is still holding 5000. The market is hovering in the negative territory since the initial bell as oil surged to a new high of $135 a barrel and weak Asian Markets. Among the Sensex pack, 1 stock is trading in green while 29 stocks are trading in red.
At 1.37PM, the BSE Sensex is trading lower by 329.82 points at 16,993.34 and NSE Nifty is also down by 85.1 points at 5,032.55.
The BSE Mid Cap and Small Cap are trading down by 85.03 points and 85.98 points at 7,063.02 and 8,703.00 respectively.
Losers from the BSE are Tata Motors trading lower by (4.15%) at Rs660.25 followed by Reliance Infraby (4.12%) at Rs1,321.0, Reliance Communication by (3.60%) at Rs582.00, ICICI Bank by (3.54%) at Rs879.0, Jaiprakash Associates by (2.85%) at Rs245.60 and Reliance by (2.62%) at Rs2,598.0.
The Metal index is trading lower by 345.33 points at 17,044.95. Pushing it are JSW SL trading lower (5.93%) at Rs1,067.50 along with Hindustan Zinc by (3.98%) at Rs722.10, Steel Authority by (3.48%) at Rs176.20, Jindal Stain by (2.60%) at Rs146.0, Jindal Saw by (1.80%) at Rs603.8, Bhushan Steel by (1.70%) at Rs806.25, and Sterlite Industries by (1.68%) at Rs929.20.
The Capital Goods index is trading down by 322.16 points at 13,347.92 as Suzlon Energy is trading down by (4.58%) at Rs294.8 followed by Kirloskar Br by (4.30%) at Rs271.50, Punj Lloyd by (3.10%) at Rs340.80, ABB Ltd by (2.85%) at Rs1000.50 and Kalpat Pow T by (2.49%) at Rs1020.0.
From the telecommunication sector, Reliance Communications is trading down by (3.1%) at Rs584.95 along with Tata Communications by (1.82%) at Rs507.65, Idea Cellular up by (2.59%) at Rs108.9 and Bharti Airtel by (0.81%) at Rs815.75.
From the Cement sector L&T Ltd is trading lower by (2.23%) at Rs2926, followed by Ambuja Cements Ltd by (1.54%) at Rs105.6 and ACC Ltd by (1.23%) at Rs681.85.
Tata Motors is trading lower by (4.15%) at Rs660.25. It has entered into an agreement to buy British brands Jaguar Land Rover from Ford Motor Co for $2.3 billion and indicated there will be some changes to the numerous models and makes available when they acquire Ferrari and Skoda. The company is planning to raise long term funds to partly finance requirements of some plans. As a key concern for the company, increase in the steel prices is affecting cost of the cars and it may be difficult to meet the deadline of Tata Nano project and keep the prices under control as steel constitutes 60% of the manufacturing cost of a car.
At 1.37PM, the BSE Sensex is trading lower by 329.82 points at 16,993.34 and NSE Nifty is also down by 85.1 points at 5,032.55.
The BSE Mid Cap and Small Cap are trading down by 85.03 points and 85.98 points at 7,063.02 and 8,703.00 respectively.
Losers from the BSE are Tata Motors trading lower by (4.15%) at Rs660.25 followed by Reliance Infraby (4.12%) at Rs1,321.0, Reliance Communication by (3.60%) at Rs582.00, ICICI Bank by (3.54%) at Rs879.0, Jaiprakash Associates by (2.85%) at Rs245.60 and Reliance by (2.62%) at Rs2,598.0.
The Metal index is trading lower by 345.33 points at 17,044.95. Pushing it are JSW SL trading lower (5.93%) at Rs1,067.50 along with Hindustan Zinc by (3.98%) at Rs722.10, Steel Authority by (3.48%) at Rs176.20, Jindal Stain by (2.60%) at Rs146.0, Jindal Saw by (1.80%) at Rs603.8, Bhushan Steel by (1.70%) at Rs806.25, and Sterlite Industries by (1.68%) at Rs929.20.
The Capital Goods index is trading down by 322.16 points at 13,347.92 as Suzlon Energy is trading down by (4.58%) at Rs294.8 followed by Kirloskar Br by (4.30%) at Rs271.50, Punj Lloyd by (3.10%) at Rs340.80, ABB Ltd by (2.85%) at Rs1000.50 and Kalpat Pow T by (2.49%) at Rs1020.0.
From the telecommunication sector, Reliance Communications is trading down by (3.1%) at Rs584.95 along with Tata Communications by (1.82%) at Rs507.65, Idea Cellular up by (2.59%) at Rs108.9 and Bharti Airtel by (0.81%) at Rs815.75.
From the Cement sector L&T Ltd is trading lower by (2.23%) at Rs2926, followed by Ambuja Cements Ltd by (1.54%) at Rs105.6 and ACC Ltd by (1.23%) at Rs681.85.
Tata Motors is trading lower by (4.15%) at Rs660.25. It has entered into an agreement to buy British brands Jaguar Land Rover from Ford Motor Co for $2.3 billion and indicated there will be some changes to the numerous models and makes available when they acquire Ferrari and Skoda. The company is planning to raise long term funds to partly finance requirements of some plans. As a key concern for the company, increase in the steel prices is affecting cost of the cars and it may be difficult to meet the deadline of Tata Nano project and keep the prices under control as steel constitutes 60% of the manufacturing cost of a car.
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