Sensex below 27,000 mark; BHEL, Hindalco top losers

Markets have slipped further in the negative territory in the morning trades weighed down by Index heavyweights Infosys and Tata Motors which have contributed nearly 40 points to the decline on the 30-share Sensex.

 

By 10.30, the Sensex is lower by 140 points at 26,999 mark and the Nifty has slipped by 45 points at 8,070 mark.

Capital goods and power stocks are trading under pressure on profit taking. L&T, BHEL, Tata power and NTPC have lost between 0.5-4.5%.

 

Metral stocks are trading lower. Hindalco, Sesa Sterlite and Tata Steel have declined between 1-3%.

 

GAIL, Asix Bank, Bajaj Auto and Bharti Airtel are some of the names in red and are trading lower between 0.7-1% on profit booking.

 

Among the broader markets, BSE Mid-cap and Small-cap indices are trading in line with the large counterparts and are trading lower by 0.8% each.

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(updated at 9.35 AM)
Markets have opened on a lower note after investors booked profits at higher levels weighed down by Infosys, Tata Motors and ONGC. In addition, weakness in the Asian markets has dampened the sentiments of the market participants.

 

By 9:35, the Sensex is lower by 53 points at 27,087 mark and the Nifty has slipped by 21 points at 8,094 mark.
 

Among the broader markets, BSE Mid-cap and Small-cap indices are trading lower by 0.1% and 0.3%.

 

The market breadth in BSE is negative with 875 shares declining and 696 shares advancing.

 

Global Markets:

 

On the global front, Asian shares pared early gains and are trading lower. The benchmark Nikkei is down 0.3%, while the Hang Seng is down 0.2%. Chinese shares are trading marginally up by 0.1% while Singapore's Straits Times is trading marginally lower by 0.3%.

 

Stocks on wall Street ended higher on Wednesday but the tech-laden Nasdaq ended lower weighed down by Apple shares. Investors also turned cautious ahead of the ECB meeting on Thursday.

 

The Dow Jones ended up 0.06% at 17,078.28, the broader S&P 500 closed 0.08% down at 2,000.73 and the tech-laden Nasdaq ended down 0.56% at 4,572.57.

Rupee:

 

The rupee is trading at 60.46 per dollar vs Wednesday's close of 60.4850/4950.

 

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 1288.57 crore on Wednesday, 3 September 2014, as per provisional data from the stock exchanges.

 

Sectors & Stocks:

 

On the sectoral front, BSE Realty index is the biggest loser down over 1% followed by Capital goods, Consumer durables, Oil & gas and power indices. However, FMCG and Healthcare indices are up by 0.5%.

 

In the auto segment, Hero Motocorp, Tata Motors and Maruti Suzuki have lost between 0.3-1%. However, Baja Auto is trading marginally in red.

 

Oil and Gas stocks trading dim in the early session with GAIL and ONGC down 0.6%.

 

In the capital goods segment, BHEL has declined by 1.6% on profit taking.

 

Infosys, Tata Power, Hindalco and Axis Bank are some of the prominent names in red down between 0.7-1%.

 

On the flip side, fresh buying is evident in the pharma space. Cipla and Sun Pharma are up by 2% and 0.8% each.

 

The technology stocks continue to remain firm on positive US manufacturing activity data released yesterday. TCS and Wipro have gaind by 0.5%.

 

Cigarette maker ITC has gained 0.5% on fresh buying.

 

M&M, Cola India and HUL are some of the notable names in green among others.