Stock Market plunged after swinging between the positive and negative terrain at the early trade of the trading session led by huge sell-off in Oil&Gas, Realty, Metals and Auto stocks, drifted the bourses towards southward journey. A sustained fall was reported as most of Asian stocks slipped into negative terrain. Scanty monsoon rains pushed India to the edge of drought, forcing pressure on food prices and energy supplies. Meanwhile, India''s merchandise exports soften for the 10th straight month in July 2009, but its balance-of-trade account improved as imports declined at a faster pace, according to the sources.
On the sectoral front, all indices declined. Oil exploration stocks slipped despite crude oil gained for the first time in three days overnight, on better-than-estimated earnings at Home Depot Inc. and Target Corp of US. Auto, Realty and Bank stocks fell on profit taking after recent gains on bargain hunting.
The Market breadth, indicating the overall strength of the market, was weak On BSE, out of 2,576 stocks traded so far, 903 shares advanced while 1,580 shares declined. Nearly 93 shares are unchanged.
At 1.22PM, the BSE Sensex is trading lower by 313.72 points at 14,721.53 whereas NSE Nifty is down by 91.69 points at 4,367.20.
The BSE Mid Cap is trading lower by 81.00 points at 5,415.55 and Small cap is trading down by 55.38 points at 6,286.06.
Major losers from the BSE Sensex Pack are Reliance Infrastructure Ltd plunged 4.20% to Rs. 1,088.00, ACC Ltd by 4.02% to Rs. 765.00, Tata Steel by 3.82% to Rs. 434.20, Grasim Industries Ltd by 3.59% to Rs. 2,481, Reliance Industries Ltd by 3.53% to Rs. 1,877.75, State Bank of India by 3.22% to Rs. 1,678, Reliance Communication Ltd by 3.10% to Rs. 243.45, Mahindra & Mahindra Ltd by 3.04% to Rs. 745, Jaiprakash Associates Ltd by 2.99% to Rs. 206 and Hero Honda Motors Ltd by 2.79% to Rs. 1,351.90.
Major gainers from the BSE Sensex pack are Housing Development Finance Co Ltd by 1.69% to Rs. 2,360.30 and Tata Power Ltd by 0.63% to Rs. 1,270.00.
The BSE Realty is lower by 81.50 points or 2.17% at 3,668.90. Stocks declined include Unitech Ltd 3.40% to Rs. 82.40, Anant Raj Industries 2.98% to Rs. 130.25, Orbitco Ltd by 2.97% to Rs. 168, Housing Development by 2.76% to Rs. 271.25, Penland Ltd 2.55% to Rs. 76.40, Ansal Infra Ltd 2.47% to Rs. 59.25, Parsvnath Ltd by 1.61% to Rs. 110.05 and DLF Ltd 1.43% to Rs. 369.80 among others.
Gujarat Industries Power Company Ltd fell 0.41% to Rs. 98.00 despite a block deal of five lakh shares was executed on NSE at Rs. 100 per share.
PSL Ltd advanced 0.78% to Rs. 142.30 after the company bagged an order worth Rs. 210 crore from GAIL.
Sintex Industries Ltd improved 0.40% to Rs. 198.35 after a block deal of 3.28 lakh shares was executed on BSE at Rs 200 per share.
Bharat Forge Ltd plunged 5.07% to Rs. 218.05 on profit booking after the stock rose 8.50% in the preceding trading session.
Rallis India Ltd gusted up 2.85% to Rs. 750.80 on buzz the Tata Group is considering merging Rallis India with Tata Chemicals.
On the sectoral front, all indices declined. Oil exploration stocks slipped despite crude oil gained for the first time in three days overnight, on better-than-estimated earnings at Home Depot Inc. and Target Corp of US. Auto, Realty and Bank stocks fell on profit taking after recent gains on bargain hunting.
The Market breadth, indicating the overall strength of the market, was weak On BSE, out of 2,576 stocks traded so far, 903 shares advanced while 1,580 shares declined. Nearly 93 shares are unchanged.
At 1.22PM, the BSE Sensex is trading lower by 313.72 points at 14,721.53 whereas NSE Nifty is down by 91.69 points at 4,367.20.
The BSE Mid Cap is trading lower by 81.00 points at 5,415.55 and Small cap is trading down by 55.38 points at 6,286.06.
Major losers from the BSE Sensex Pack are Reliance Infrastructure Ltd plunged 4.20% to Rs. 1,088.00, ACC Ltd by 4.02% to Rs. 765.00, Tata Steel by 3.82% to Rs. 434.20, Grasim Industries Ltd by 3.59% to Rs. 2,481, Reliance Industries Ltd by 3.53% to Rs. 1,877.75, State Bank of India by 3.22% to Rs. 1,678, Reliance Communication Ltd by 3.10% to Rs. 243.45, Mahindra & Mahindra Ltd by 3.04% to Rs. 745, Jaiprakash Associates Ltd by 2.99% to Rs. 206 and Hero Honda Motors Ltd by 2.79% to Rs. 1,351.90.
Major gainers from the BSE Sensex pack are Housing Development Finance Co Ltd by 1.69% to Rs. 2,360.30 and Tata Power Ltd by 0.63% to Rs. 1,270.00.
The BSE Realty is lower by 81.50 points or 2.17% at 3,668.90. Stocks declined include Unitech Ltd 3.40% to Rs. 82.40, Anant Raj Industries 2.98% to Rs. 130.25, Orbitco Ltd by 2.97% to Rs. 168, Housing Development by 2.76% to Rs. 271.25, Penland Ltd 2.55% to Rs. 76.40, Ansal Infra Ltd 2.47% to Rs. 59.25, Parsvnath Ltd by 1.61% to Rs. 110.05 and DLF Ltd 1.43% to Rs. 369.80 among others.
Gujarat Industries Power Company Ltd fell 0.41% to Rs. 98.00 despite a block deal of five lakh shares was executed on NSE at Rs. 100 per share.
PSL Ltd advanced 0.78% to Rs. 142.30 after the company bagged an order worth Rs. 210 crore from GAIL.
Sintex Industries Ltd improved 0.40% to Rs. 198.35 after a block deal of 3.28 lakh shares was executed on BSE at Rs 200 per share.
Bharat Forge Ltd plunged 5.07% to Rs. 218.05 on profit booking after the stock rose 8.50% in the preceding trading session.
Rallis India Ltd gusted up 2.85% to Rs. 750.80 on buzz the Tata Group is considering merging Rallis India with Tata Chemicals.
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