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SI Reporter Mumbai
Last Updated : Mar 05 2013 | 8:29 PM IST

The markets have extended their losses this morning in the absence of any silver lining on the Asian front. The Asian markets have been rattled by concerns of the Greek deficit crisis spreading through Europe. The Nikkei has lost more than 3% (the Japanese markets have opened after three days though and could well be playing caching up on the downside) , while the other Asian indices have lost anywhere between 1% and 25 each. The BSE Sensex has slipped below the psychological 17k mark at 16970, lower by 117 points, and the Nifty has drifted below the 5100 level and is now quoting at 5088, down 36 points. Auto and metal majors are facing the brunt of selling pressure.

The broader market space looks good though. The small-cap index is in the green, mid-cap index has just edged marginally lower and the breadth is overwhelmingly positive, with two gainers behind every loser.

The major losers on the Sensex are Bharti (weakened by 1.2% at Rs 293), M&M (shed 1.6% at Rs 737) and HDFC (lost 1.5% at Rs 161). The other significant losers are ACC, Hindalco and Tata Motors.

Among the gainers, Hindustan Unilever has added 1.2% at Rs 231, Jaiprakash Associates has strengthened by 0.9% at Rs 134 and Cipla is up 0.8% at Rs 339.

And the three public sector oil marketing companies (OMC), including Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL), have gained between 1% and 2% on reports that the Union finance ministry will compensate them with an additional Rs 14,000 crore of the Rs 19,620 crore of still-uncovered revenue losses incurred in 2009-10. IOC has strengthened by 2% at Rs 305, while HPCL and BPCL have added more than a 1% each.

And index heavyweight RIL is trading flat at Rs 1020.

The market breadth is positive though. Out of 2151 stocks traded on the BSE, there are 1208 advancing stocks as against 877 declines.

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First Published: May 06 2010 | 10:20 AM IST

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