 "Sensex slumps over 550 points; RIL, Infosys fall 2%")
Markets have extended losses and trading near day’s low weighed down by index heavyweight shares and dismal global cues.
By 9:57, the 30-share Sensex was lower by 566 points at 27,276 whereas the Nifty plunged by 167 points at 8,212 levels.
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Markets have opened sharply lower tracking weakness in global markets. Globally equity markets have declined on sustained fall in global crude prices and concerns over political uncertainty in Greece.
By 9:23, the 30-share Sensex was lower by 447 points at 27,395 whereas the Nifty plunged by 129 points at 8,250 levels.
Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 472 crore on Monday, as per provisional stock exchange data.
Further, the Union Cabinet on Monday finalised the reserve prices for the 800-, 900- and 1,800-MHz telecom spectrum bands and said the 2,100-MHz band would be auctioned simultaneously with the other bands in February. Also, the Cabinet has approved an ordinance for the auction of iron ore and other minerals
GLOBAL MARKETS
Japan's Nikkei share average tumbled 2.6% on Tuesday as concerns over Greece's future in the euro zone and weak oil prices curbed risk appetite, while the strong yen dragged down exporters.
The Nikkei was at 16,964.46 points by midmorning, after posting its biggest one-day drop in seven weeks and nearing its six-week low of 16,672.94 hit on Dec. 17.
Crude oil futures prices dropped to their lowest since 2009 amid a global supply glut and lacklustre demand, while political uncertainty in Greece has renewed fears of a Greek exit from the euro zone.
China's services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens.
The HSBC/Markit Services Purchasing Managers' Index(PMI) picked up to 53.4 last month from November's 53.0, well above the 50-point level that separates growth from contraction in activity on a monthly basis.
The S&P 500 had its worst day in almost three months on Monday, with energy shares leading the decline as global economic concerns were compounded by swooning oil prices.
SECTORS & STOCKS
BSE Auto, Capital Goods, IT, Power and Realty indices have plunged by almost 2%. Infact, all the sectoral indices are trading in negative zone.
The top losers on the Sensex pack are Tata Motors, Tata Power, Sesa Sterlite, Hindalco, L&T, ONGC, GAIL and Infosys.
Oil marketing companies like IOC, BPCL and HPCL are trading in positive zone due to sustained fall in global crude oil prices.
The broader markets are underperforming in line with the benchmark indices- BSE Midcap and Smallcap indices have slumped over 1%.
The market breadth in BSE remains 1,138 shares declining and 238 shares advancing.
By 9:57, the 30-share Sensex was lower by 566 points at 27,276 whereas the Nifty plunged by 167 points at 8,212 levels.
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Updated at 9:35
Markets have opened sharply lower tracking weakness in global markets. Globally equity markets have declined on sustained fall in global crude prices and concerns over political uncertainty in Greece.
By 9:23, the 30-share Sensex was lower by 447 points at 27,395 whereas the Nifty plunged by 129 points at 8,250 levels.
Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 472 crore on Monday, as per provisional stock exchange data.
Further, the Union Cabinet on Monday finalised the reserve prices for the 800-, 900- and 1,800-MHz telecom spectrum bands and said the 2,100-MHz band would be auctioned simultaneously with the other bands in February. Also, the Cabinet has approved an ordinance for the auction of iron ore and other minerals
GLOBAL MARKETS
Japan's Nikkei share average tumbled 2.6% on Tuesday as concerns over Greece's future in the euro zone and weak oil prices curbed risk appetite, while the strong yen dragged down exporters.
The Nikkei was at 16,964.46 points by midmorning, after posting its biggest one-day drop in seven weeks and nearing its six-week low of 16,672.94 hit on Dec. 17.
Crude oil futures prices dropped to their lowest since 2009 amid a global supply glut and lacklustre demand, while political uncertainty in Greece has renewed fears of a Greek exit from the euro zone.
China's services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens.
The HSBC/Markit Services Purchasing Managers' Index(PMI) picked up to 53.4 last month from November's 53.0, well above the 50-point level that separates growth from contraction in activity on a monthly basis.
The S&P 500 had its worst day in almost three months on Monday, with energy shares leading the decline as global economic concerns were compounded by swooning oil prices.
SECTORS & STOCKS
BSE Auto, Capital Goods, IT, Power and Realty indices have plunged by almost 2%. Infact, all the sectoral indices are trading in negative zone.
The top losers on the Sensex pack are Tata Motors, Tata Power, Sesa Sterlite, Hindalco, L&T, ONGC, GAIL and Infosys.
Oil marketing companies like IOC, BPCL and HPCL are trading in positive zone due to sustained fall in global crude oil prices.
The broader markets are underperforming in line with the benchmark indices- BSE Midcap and Smallcap indices have slumped over 1%.
The market breadth in BSE remains 1,138 shares declining and 238 shares advancing.