 "RBI comments take toll, Sensex dips below 20k")
Markets continue to trade in the red with the key benchmark indices slipping further in the morning trades. At 1022 hrs, the Sensex was down 244 points at 19,970 and the Nifty slipped 77 points at 6,046.
The broader markets too gave away its opening gains. The midcap index was down 0.2% while the smallcap index turned flat with a negative bias, as compared to the 1.1% cut on the Sensex.
IT , Health Care and Consumer Durables were the only indices in the green, up 0.1-0.3%.
On the currency front, Rupee was at 56.47/48 versus its close of 56.38/39 on Thursday after falling to as low as 56.60 in opening deals, its weakest since June 29, 2012.
Dealers say the Reserve Bank of India governor's comment on Thursday that inflation still remained high and it will take into account the current account deficit for policy decisions, weighed, as it dampened rate-cut hopes in June policy review.
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(Updated at 0936 hrs)
Markets started the June F&O series on a negative note ahead of the January – March economic growth data (GDP data) due later in the day today. The Sensex started down 140 points at 20,076 and the Nifty gave off 46 points to start at 6,077. The ones weighing on the indices in the opening trades were ITC, TCS, HDFC Bank and L&T.
The 30-share index slipped nearly 300 points below the key 20,000 mark as trade progressed and ahead of the crucial January - March quarter GDP data due later in the day.
Reserve Bank of India (RBI) governor D Subbarao's comments on inflation still being high and concerns over the current account deficit dented rate cut hopes.
In the broader markets, the smallcap index started up 0.3% while the midcap was flat with a positive bias as compared to Sensex which was down 0.6%.
Asian shares recovered on Friday as global markets recovered overnight after lacklustre U.S. data eased concerns about an early end to the Federal Reserve's strong stimulus programme which has sharpened investor appetite for risk.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% after touching a six-week low of 463.31 on Thursday.
The Nikkei stock average opened up 1.6% after tumbling over 5% to a five-week low the day before as the dollar's decline against the yen weighed on exporters.
Overnight, in US stocks rose on Thursday, rebounding from the previous session's losses, as tepid economic data eased concerns the Federal Reserve would begin to gradually scale back its policy of stimulating growth.
The Dow Jones industrial average was up 0.14%, at 15,324. The Standard & Poor's 500 Index was up 0.37%, at 1,654. The Nasdaq Composite Index was up 0.69%, at 3,491.
Back home, among the sectoral indices, IT was the only exception to start in the green, gaining 0.2% while metal was flat with a positive bias.
Meanwhile, FMCG, Bankex, Auto, Consumer durables, Capital Goods, Health Care, Realty and Power indices started on a negative note, losing 0.1-1.3%.
The only gainers among the Sensex-30 were Gail India up 1.7% followed by Infosys, Tata Power, Sterlite, Jindal Steel, Tata Steel and Wipro which added 0.4-1%.
On the losing side were ITC, Mahindra & Mahindra, HDFC Bank, BHEL, HDFC, Cipla and Sun Pharma down 0.8-2.5%.
L&T, Reliance Industries, Bharti Airtel, TCS, Bajaj Auto, Hindalco and ICICI Bank down 0.5-0.7% were the other notable losers.
The market breadth was marginally positive owing to the strength in broader markets. 534 stocks advanced while 510 stocks declined.
The broader markets too gave away its opening gains. The midcap index was down 0.2% while the smallcap index turned flat with a negative bias, as compared to the 1.1% cut on the Sensex.
IT , Health Care and Consumer Durables were the only indices in the green, up 0.1-0.3%.
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FMCG, Bankex, Oil & Gas, Capital Goods and Auto indices down 1-1.6% were the major sectoral losers.
On the currency front, Rupee was at 56.47/48 versus its close of 56.38/39 on Thursday after falling to as low as 56.60 in opening deals, its weakest since June 29, 2012.
Dealers say the Reserve Bank of India governor's comment on Thursday that inflation still remained high and it will take into account the current account deficit for policy decisions, weighed, as it dampened rate-cut hopes in June policy review.
__________________________
(Updated at 0936 hrs)
Markets started the June F&O series on a negative note ahead of the January – March economic growth data (GDP data) due later in the day today. The Sensex started down 140 points at 20,076 and the Nifty gave off 46 points to start at 6,077. The ones weighing on the indices in the opening trades were ITC, TCS, HDFC Bank and L&T.
The 30-share index slipped nearly 300 points below the key 20,000 mark as trade progressed and ahead of the crucial January - March quarter GDP data due later in the day.
Reserve Bank of India (RBI) governor D Subbarao's comments on inflation still being high and concerns over the current account deficit dented rate cut hopes.
In the broader markets, the smallcap index started up 0.3% while the midcap was flat with a positive bias as compared to Sensex which was down 0.6%.
Asian shares recovered on Friday as global markets recovered overnight after lacklustre U.S. data eased concerns about an early end to the Federal Reserve's strong stimulus programme which has sharpened investor appetite for risk.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% after touching a six-week low of 463.31 on Thursday.
The Nikkei stock average opened up 1.6% after tumbling over 5% to a five-week low the day before as the dollar's decline against the yen weighed on exporters.
Overnight, in US stocks rose on Thursday, rebounding from the previous session's losses, as tepid economic data eased concerns the Federal Reserve would begin to gradually scale back its policy of stimulating growth.
The Dow Jones industrial average was up 0.14%, at 15,324. The Standard & Poor's 500 Index was up 0.37%, at 1,654. The Nasdaq Composite Index was up 0.69%, at 3,491.
Back home, among the sectoral indices, IT was the only exception to start in the green, gaining 0.2% while metal was flat with a positive bias.
Meanwhile, FMCG, Bankex, Auto, Consumer durables, Capital Goods, Health Care, Realty and Power indices started on a negative note, losing 0.1-1.3%.
The only gainers among the Sensex-30 were Gail India up 1.7% followed by Infosys, Tata Power, Sterlite, Jindal Steel, Tata Steel and Wipro which added 0.4-1%.
On the losing side were ITC, Mahindra & Mahindra, HDFC Bank, BHEL, HDFC, Cipla and Sun Pharma down 0.8-2.5%.
L&T, Reliance Industries, Bharti Airtel, TCS, Bajaj Auto, Hindalco and ICICI Bank down 0.5-0.7% were the other notable losers.
The market breadth was marginally positive owing to the strength in broader markets. 534 stocks advanced while 510 stocks declined.