Markets continue to languish in the red with the Sensex down 30 points at 17,508 and the Nifty lost 15 points at 5,312.
Profit booking was visible across the broader markets. The midcap index was down 0.4% as compared to the Sensex down 0.3% and smallcap index lost 0.1%.
Rupee fell to 55.45/46 from its previous close of 54.94/95, tracking weaker risk currencies after monetary easing from China, the euro zone and Britain signalled a growing level of alarm about the global economy.
FMCG up 0.8% was the only gainer among the sectoral indices. Metal, Realty and IT down 1% each were the major graggers.
Among the top losers were Jindal Steel and Power Limited which dipped 3% to Rs 458 on reports that the company has suspended operations at its iron ore mine in Bolivia due to legal problems.
Sterlite, Wipro, Hindalco, Maruti Suzuki, Gail India, Infosys, L&T, ONGC, Tata Power and Bajaj Auto down 1-2% were the major losers.
The top gainers among the Sensex stocks were Hindustan Unilever, Cipla, Mahindra & Mahindra, Tata Motors, ITC and HDFC up 1-1.5%.
The market breadth remained negative on the BSE. 1438 stocks declined while 1220 stocks advanced.
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(Updated at 11:43 hrs)
Markets continue to trade in the red owing to the negative sentiments across the global markets. At 11.40 am, the Sensex was down 66 points at .17,472 after seeing a low of 17,425 thus far. The Nifty lost 24 points at 5,303.
The broader too were under pressure after sustained out performance through the week. The midcap index was down 0.4% underperforming the Sensex which lost 0.2% and smallcap index down 0.3%.
All the Asian markets were trading in the red pressurized by falls overnight in global shares as sentiment remained cautious despite new stimulus steps taken by three major central banks, with focus now pinned to the US jobs data due later in the day. The major draggers were Nikkei and Kospi Composite down over 1% each. Shanghai Composite and Taiwan Weighted down 0.5% each were the other notable losers.
Back home, among the sectoral indices, FMCG up 0.7% and auto index flat with a positive bias were the pockets in green. Meanwhile, Realty, Metal, IT and Capital Goods slipped 1% each.
Realty index declined 1.3% on profit booking after surging post the Competition Commission of India imposing a heavy fine on cement firms last month on price cartelisation. The major draggers were DLF, HDIL, Unitech and Indiabulls Real Estate down 2-2.5%.
Metal stocks stumbled as metal prices declined on London Metal Exchange. The major loser in this space was Jindal Steel down over 3% along with Jindal Steel, Sterlite Industries and Hindalco down nearly 2%.
Shares of bicycle makers such has Atlas Cycles (Haryana), Hercules Hoists and Tube Investments of India are in focus during noon trades in otherwise subdued market on hopes of higher demand in overseas market after the Europe has imposed an anti-dumping duty on China-made bicycles.
Atlas Cycles (Haryana) has locked upper circuit of 10% at Rs 410, extending its previous day’s 5% gain, followed by Hercules Hoists which soared 7% at Rs 324 and Tube Investments of India was up 4% at Rs 154.
Among the Sensex stocks, Wipro, Gail India, Infosys, ONGC, Tata Power, L&T, Tata Steel and Maruti Suzuki down 1-2% were the notable losers.
Hindustan Unilever, Cipla, Mahindra & Mahindra, HDFC and ITC up 1% each were the major gainers.
The market breadth continues to remain negative. 1284 stocks declined while 1123 stocks declined.