 "Market slips on weak Asian cues, Ukraine concerns")
After a weak start market edged lower tracking weakness in Asian markets and subdued sentiment as Ukraine concerns resurface.
ICICI Bank, L&T, Axis Bank, HDFC Bank and TCS collectively pulled the benchmark Sensex 91 points lower.
At The 30-share BSE Sensex was down 119 points lower at 21,656 levels and the 50-share NSE Nifty index shed 39 points in opening trades at 6,454 levels.
Among sectors, BSE Realty, Bankex and capital goods traded 1-2% lower followed by consumer durables, metal indices and IT indices were other notable losers. BSE Healthcare is the only sector trading in green at this hour.
(Updated at 1030hrs)
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The market opened lower tracking the weakness in Asian markets and subdued sentiment as Ukraine concerns resurface.
Key indices on Friday were pulled by profit-booking in high-beta banking stocks alongwith and oil & gas behemoth Reliance Industries. ICICI Bank, HDFC, HDFC Bank, Reliance Inds collectively pulled the benchmark Nifty 20 points lower, contributing to 50% of the losses on the benchmark Nifty in early trades.
The 30-share BSE Sensex was down 94 points lower at 21,681 levels and the 50-share NSE Nifty index shed 31 points in opening trades at 6,462 levels.
Among sectors, BSE Realty and Bankex were down 1-1.7% lower followed by Capital Goods and metal indices. Oil & gas is the only sector trading in green at this hour.
Global concerns resurfaced as latest reports indicate that Russia's Defense Ministry announced new military operations in several regions near the Ukrainian border on Thursday, even as Chancellor Angela Merkel of Germany warned the Kremlin to abandon the politics of the 19th and 20th centuries or face diplomatic and economic retaliation from a united Europe. Sunday's Crimean referendum on joining the Russian Federation will be closely eyed.
China's industrial output rose 8.6 percent in the first two months of 2014 from a year earlier, missing market expectations, with growth in retail sales also weaker than expected. Annual growth in factory output in the first two months of the year is the weakest since March 2009.
US stocks tumbled overnight, with the Dow and the S&P 500 suffering their worst day since early February, on rising concerns over Ukraine and Russia and new signs of a slowdown in China. Selling accelerated in afternoon trading after Russia launched military exercises near its border with Ukraine, showing no sign of backing down in its plans to annex its neighbor's Crimea region despite a stronger-than-expected push for sanctions from the EU and the United States.
China's economy slowed markedly in the first two months of the year, as growth in investment, retail sales and factory output all fell to multi-year lows.
Japanese stocks skidded 2.7% to a one-month low on Friday morning as concerns over Ukraine and slowing growth in China rattled investors, underpinning the safe-haven yen and hurting exporters. The Nikkei share average fell 395.04 points to 14,420.94 in mid-morning trade after dropping to a low of 14,408.62 earlier, the weakest since February 17
Investors now hope that wholesale price-indexed (WPI) inflation data for the month of February, to be released ahead of RBI monetary policy meet, will be lower than expectated. The WPI inflation in the month of January stood at 5.05 per cent.
Broader markets performed in-line with benchmarks. The BSE mid-cap and small-cap indices were last seen trading 0.3-0.6% lower.
A total of 519 advanced against a decline seen in 787 shares on the BSE, indicating a weak market breath at this hour.
ICICI Bank, L&T, Axis Bank, HDFC Bank and TCS collectively pulled the benchmark Sensex 91 points lower.
At The 30-share BSE Sensex was down 119 points lower at 21,656 levels and the 50-share NSE Nifty index shed 39 points in opening trades at 6,454 levels.
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The rupee hit a one-week low of 61.50 in opening trade on risk aversion as tensions in Ukraine flared up and weak China data renewed concerns about global growth. The pair last at 61.48 versus Thursday's close of 61.17/18.
Among sectors, BSE Realty, Bankex and capital goods traded 1-2% lower followed by consumer durables, metal indices and IT indices were other notable losers. BSE Healthcare is the only sector trading in green at this hour.
(Updated at 1030hrs)
=================================================================================================
The market opened lower tracking the weakness in Asian markets and subdued sentiment as Ukraine concerns resurface.
Key indices on Friday were pulled by profit-booking in high-beta banking stocks alongwith and oil & gas behemoth Reliance Industries. ICICI Bank, HDFC, HDFC Bank, Reliance Inds collectively pulled the benchmark Nifty 20 points lower, contributing to 50% of the losses on the benchmark Nifty in early trades.
The 30-share BSE Sensex was down 94 points lower at 21,681 levels and the 50-share NSE Nifty index shed 31 points in opening trades at 6,462 levels.
Among sectors, BSE Realty and Bankex were down 1-1.7% lower followed by Capital Goods and metal indices. Oil & gas is the only sector trading in green at this hour.
Global concerns resurfaced as latest reports indicate that Russia's Defense Ministry announced new military operations in several regions near the Ukrainian border on Thursday, even as Chancellor Angela Merkel of Germany warned the Kremlin to abandon the politics of the 19th and 20th centuries or face diplomatic and economic retaliation from a united Europe. Sunday's Crimean referendum on joining the Russian Federation will be closely eyed.
China's industrial output rose 8.6 percent in the first two months of 2014 from a year earlier, missing market expectations, with growth in retail sales also weaker than expected. Annual growth in factory output in the first two months of the year is the weakest since March 2009.
US stocks tumbled overnight, with the Dow and the S&P 500 suffering their worst day since early February, on rising concerns over Ukraine and Russia and new signs of a slowdown in China. Selling accelerated in afternoon trading after Russia launched military exercises near its border with Ukraine, showing no sign of backing down in its plans to annex its neighbor's Crimea region despite a stronger-than-expected push for sanctions from the EU and the United States.
China's economy slowed markedly in the first two months of the year, as growth in investment, retail sales and factory output all fell to multi-year lows.
Japanese stocks skidded 2.7% to a one-month low on Friday morning as concerns over Ukraine and slowing growth in China rattled investors, underpinning the safe-haven yen and hurting exporters. The Nikkei share average fell 395.04 points to 14,420.94 in mid-morning trade after dropping to a low of 14,408.62 earlier, the weakest since February 17
Investors now hope that wholesale price-indexed (WPI) inflation data for the month of February, to be released ahead of RBI monetary policy meet, will be lower than expectated. The WPI inflation in the month of January stood at 5.05 per cent.
Broader markets performed in-line with benchmarks. The BSE mid-cap and small-cap indices were last seen trading 0.3-0.6% lower.
A total of 519 advanced against a decline seen in 787 shares on the BSE, indicating a weak market breath at this hour.