 "Markets remain under pressure; banks weigh")
Markets continue to trade in the negative territory as weakness in heavyweights like ICICI Bank, HDFC Bank, Infosys, and L&T weighed on the indices.
At 1030 hrs, the Sensex was down 64 points at 20,826 and the Nifty slipped 20 points to trade at 6,183
Broader markets remain strong with mid and smallcap indices up 0.6-0.7%.
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(Updated at 1030 hrs)
Markets started in the red on account of profit booking at higher levels amid subdued cues from Asia and weakness in US share indices in overnight trades. The BSE benchmark index started lower by 65 points at 20,825 and the Nifty slipped 18 points to trade at 6,185.
Meanwhile, there was some buying in the broader markets. The midcap index was up 0.3% and the smallcap index gained 0.4%, both outperforming the BSE benchmark index which was down 0.2%.
Asian markets were trading mixed with the Shanghai Composite nearly unchanged while Hang Seng and Straits Times were trading flat with positive bias. However, Japan's Nikkei was down 0.1%.
The Dow Jones and S&P 500 extended losses on Tuesday amid weak outook from select corporates.
The Dow Jones Industrial average ended down 0.1%, to end at 15,967. The Standard & Poor's 500 Index lost 0.2% at 1,788. The tech laden Nasdaq Composite Index ended down 0.4% at 3,931.
Back home, on the sectoral front, the banking index was down 1% and was the top sectoral loser.
Consumer Durables, Capital Goods, Oil & Gas, PSU ad Teck indices slipped 0.1-0.5%.
On the other hand, Realty, Power, FMCG, Metal and Health Care indices gained 0.1-1%.
Metal names like Jindal Steel and Sesa Sterlite up 1-2% were the top gainers among the Sensex-30.
TCS, M&M, BHEL, Wipro, Tata Power and ITC up 0.5-0.8% were the other notable gainers.
Banking majors – ICICI Bank, HDFC Bank and SBI down 1-2% were the major losers in the opening trades.
Infosys, L&T, Hero MotoCorp, Bharti Airtel, Tata Motors, Gail India and Tata Steel down 0.3-0.8% were the other prominent losers.
Index heavyweight, Reliance Industries was flat with a negative bias.
In individual stocks, Wyeth rallied 18% to Rs 765 after the pharmaceutical company announced the amalgamation of the company with Pfizer. Also, shares of Pfizer were up 2.2% at Rs 1,375. The stock opened at Rs 1,361 and touched a high of Rs 1,391, also its 52-week high on NSE.
Shriram EPC rallied 8% to Rs 33.90 after the company said it has received multiple orders amounting to Rs 214 crore.
The market breadth was positive owing to strength in broader markets. 619 stocks advanced while 392 stocks declined on the BSE.
At 1030 hrs, the Sensex was down 64 points at 20,826 and the Nifty slipped 20 points to trade at 6,183
Broader markets remain strong with mid and smallcap indices up 0.6-0.7%.
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___________________
(Updated at 1030 hrs)
Markets started in the red on account of profit booking at higher levels amid subdued cues from Asia and weakness in US share indices in overnight trades. The BSE benchmark index started lower by 65 points at 20,825 and the Nifty slipped 18 points to trade at 6,185.
Meanwhile, there was some buying in the broader markets. The midcap index was up 0.3% and the smallcap index gained 0.4%, both outperforming the BSE benchmark index which was down 0.2%.
Asian markets were trading mixed with the Shanghai Composite nearly unchanged while Hang Seng and Straits Times were trading flat with positive bias. However, Japan's Nikkei was down 0.1%.
The Dow Jones and S&P 500 extended losses on Tuesday amid weak outook from select corporates.
The Dow Jones Industrial average ended down 0.1%, to end at 15,967. The Standard & Poor's 500 Index lost 0.2% at 1,788. The tech laden Nasdaq Composite Index ended down 0.4% at 3,931.
Back home, on the sectoral front, the banking index was down 1% and was the top sectoral loser.
Consumer Durables, Capital Goods, Oil & Gas, PSU ad Teck indices slipped 0.1-0.5%.
On the other hand, Realty, Power, FMCG, Metal and Health Care indices gained 0.1-1%.
Metal names like Jindal Steel and Sesa Sterlite up 1-2% were the top gainers among the Sensex-30.
TCS, M&M, BHEL, Wipro, Tata Power and ITC up 0.5-0.8% were the other notable gainers.
Banking majors – ICICI Bank, HDFC Bank and SBI down 1-2% were the major losers in the opening trades.
Infosys, L&T, Hero MotoCorp, Bharti Airtel, Tata Motors, Gail India and Tata Steel down 0.3-0.8% were the other prominent losers.
Index heavyweight, Reliance Industries was flat with a negative bias.
In individual stocks, Wyeth rallied 18% to Rs 765 after the pharmaceutical company announced the amalgamation of the company with Pfizer. Also, shares of Pfizer were up 2.2% at Rs 1,375. The stock opened at Rs 1,361 and touched a high of Rs 1,391, also its 52-week high on NSE.
Shriram EPC rallied 8% to Rs 33.90 after the company said it has received multiple orders amounting to Rs 214 crore.
The market breadth was positive owing to strength in broader markets. 619 stocks advanced while 392 stocks declined on the BSE.