 "Markets in doldrums on China liquidity woes")
Indian equity markets traded volatile with a negative bias as investors preferred to remain on the side-lines amid negative Asian cues and emerging signs of recovery in US.
Meanwhile, China’s Shanghai index slid nearly 4 per cent deepening their slump into a bear market amid concerns elevated money-market rates will worsen the country’s economic slowdown.
At 10:40AM, the 30-share Sensex shed 16 points at 18,525 and the 50-share Nifty declined 9 points at 5,581 levels.
The Fed may trim its monthly bond purchases by $20 billion to $65 billion in September, a Bloomberg survey showed.
Mirroring the concerns, Asian stocks traded lower with Nikkei falling 1.6% to 12,847, Singapore Straits Times gained 0.3% to 3,081, Hong Kong’s Hang Seng declined 1.4% to 19,533 while China’s Shanghai Composite index was down 2.9% at 1,908.
Back home, the key sectoral losers included autos, consumer durables, FMCG, healthcare while metal, realty PSU, power rose on the BSE.
The gainers included counters such as Sterlite and Hindalco Industries rising over 1.8% and 1% respectively, Bharti Airtel gained 1.4%, ONGC added 2% while Reliance Industries rose 1.2% on the BSE.
The laggards were Tata Motors and Maruti Suzuku falling 3.2% and 2.2% respectively, Wipro and TCS falling 1% and 0.6% respectively, ICICI Bank and SBI was down 1.4% each while Bajaj Auto fell 1.7% on the BSE.
The key notable movers included counters such as MMTC which is locked in lower circuit for the ninth consecutive day, down 5% at Rs 120 on the Bombay Stock Exchange (BSE).
The stock of state-owned trading company is currently quoting at its lowest value since July 2007. The stock has tanked 37% in past nine trading sessions after the government fixed the floor price for stake sale at Rs 60/- per share which is a huge discount to the current market price.
Shares of Godrej Properties were up over 1% at Rs 507, in an otherwise sluggish market, after the company announced an agreement with Shubh Properties for a re-development residential project in the eastern suburbs of Mumbai.
The broader markets traded lower with mid-caps and small-caps falling 1 per cent on the BSE.
The market breadth was negative. Out of 1,637 stocks traded so far, 915 stocks dropped while 618 advanced on the BSE.
Meanwhile, China’s Shanghai index slid nearly 4 per cent deepening their slump into a bear market amid concerns elevated money-market rates will worsen the country’s economic slowdown.
At 10:40AM, the 30-share Sensex shed 16 points at 18,525 and the 50-share Nifty declined 9 points at 5,581 levels.
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Global investor sentiments also remained edgy after Federal Reserve Chairman Ben Bernanke hinted towards tapering off the bond-buying programme popularly known as ‘quantitative easing’ sooner-than-expected once US economy shows sustainable signs of recovery.
The Fed may trim its monthly bond purchases by $20 billion to $65 billion in September, a Bloomberg survey showed.
Mirroring the concerns, Asian stocks traded lower with Nikkei falling 1.6% to 12,847, Singapore Straits Times gained 0.3% to 3,081, Hong Kong’s Hang Seng declined 1.4% to 19,533 while China’s Shanghai Composite index was down 2.9% at 1,908.
Back home, the key sectoral losers included autos, consumer durables, FMCG, healthcare while metal, realty PSU, power rose on the BSE.
The gainers included counters such as Sterlite and Hindalco Industries rising over 1.8% and 1% respectively, Bharti Airtel gained 1.4%, ONGC added 2% while Reliance Industries rose 1.2% on the BSE.
The laggards were Tata Motors and Maruti Suzuku falling 3.2% and 2.2% respectively, Wipro and TCS falling 1% and 0.6% respectively, ICICI Bank and SBI was down 1.4% each while Bajaj Auto fell 1.7% on the BSE.
The key notable movers included counters such as MMTC which is locked in lower circuit for the ninth consecutive day, down 5% at Rs 120 on the Bombay Stock Exchange (BSE).
The stock of state-owned trading company is currently quoting at its lowest value since July 2007. The stock has tanked 37% in past nine trading sessions after the government fixed the floor price for stake sale at Rs 60/- per share which is a huge discount to the current market price.
Shares of Godrej Properties were up over 1% at Rs 507, in an otherwise sluggish market, after the company announced an agreement with Shubh Properties for a re-development residential project in the eastern suburbs of Mumbai.
The broader markets traded lower with mid-caps and small-caps falling 1 per cent on the BSE.
The market breadth was negative. Out of 1,637 stocks traded so far, 915 stocks dropped while 618 advanced on the BSE.