 "Sensex down nearly 100 pts; capital goods & financials drag")
Benchmark indices continue to remain weak weighed down by capital goods and financial shares.
The market sentiment is also affected adversely by data showing that foreign funds remained sellers of Indian stocks on Wednesday. Foreign institutional investors (FIIs) sold shares worth a net Rs 576.20 crore on Wednesday, as per provisional data from the stock exchanges.
At 13:05 PM, the 30-share Sensex was down 92 points at 20,169 and the 50-share Nifty was down 33 points at 5,989.
On the global front, Asian shares took a tentative step forward from five-month lows on Thursday, with investors hoping the European Central Bank (ECB) and upcoming U.S. jobs data can calm nerves strained by the emerging market selloff.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.8% after five days of losses, although Japan's Nikkei ended down 0.2% after a volatile trade.
Back home, moving in line with the equity market, rupee trimmed its initial gains against the green currency but was still quoted higher by nine paise to 62.48 per dollar on selling of the American unit by banks and exporters in view of dollar weakness overseas.
On the sectoral front, BSE Realty index has slumped by nearly 2% followed by counters like Capital Goods, Banks, Oil & Gas and IT, all declining by 1% each. Apart from Metal and FMCG, all the major BSE sectoral indices are trading in red zone.
The main losers on the Sensex at this hour include BHEL, ICICI Bank, GAIL, Axis Bank, L&T, HDFC, SBI and TCS.
Bharat Heavy Electricals Limited (BHEL) has dipped 3% on BSE after reporting a sharp 41% year-on-year (yoy) decline in net profit at Rs 695 crore for the third quarter ended December 31, 2013 (Q3) due to lower realization.
On the gaining side, Coal India, Tata Power, HUL, Wipro and HDFC Bank have gained between 1-3%.
Among other shares, Astral Poly Technik has surged nearly 5% to Rs 374, also its new high on the BSE, after reporting a more than doubled net profit at Rs 21.32 crore for the quarter ended December 31, 2013 (Q3FY14) on back of strong operational performance.
The broader markets are trading flat and have outperformed the benchmark indices. The BSE Mid-cap index has slipped marginally by 0.31% to 6,291 and the small-cap index is up 0.03% at 6,307.
The market breadth in BSE turns weak with 1,218 shares declining and 1,032 shares advancing.
The market sentiment is also affected adversely by data showing that foreign funds remained sellers of Indian stocks on Wednesday. Foreign institutional investors (FIIs) sold shares worth a net Rs 576.20 crore on Wednesday, as per provisional data from the stock exchanges.
At 13:05 PM, the 30-share Sensex was down 92 points at 20,169 and the 50-share Nifty was down 33 points at 5,989.
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Adds technical analyst, Devangshu Datta, “Stop loss long positions at 5965, stop loss shorts at 6050. Hope for breakouts.”
On the global front, Asian shares took a tentative step forward from five-month lows on Thursday, with investors hoping the European Central Bank (ECB) and upcoming U.S. jobs data can calm nerves strained by the emerging market selloff.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.8% after five days of losses, although Japan's Nikkei ended down 0.2% after a volatile trade.
Back home, moving in line with the equity market, rupee trimmed its initial gains against the green currency but was still quoted higher by nine paise to 62.48 per dollar on selling of the American unit by banks and exporters in view of dollar weakness overseas.
On the sectoral front, BSE Realty index has slumped by nearly 2% followed by counters like Capital Goods, Banks, Oil & Gas and IT, all declining by 1% each. Apart from Metal and FMCG, all the major BSE sectoral indices are trading in red zone.
The main losers on the Sensex at this hour include BHEL, ICICI Bank, GAIL, Axis Bank, L&T, HDFC, SBI and TCS.
Bharat Heavy Electricals Limited (BHEL) has dipped 3% on BSE after reporting a sharp 41% year-on-year (yoy) decline in net profit at Rs 695 crore for the third quarter ended December 31, 2013 (Q3) due to lower realization.
On the gaining side, Coal India, Tata Power, HUL, Wipro and HDFC Bank have gained between 1-3%.
Among other shares, Astral Poly Technik has surged nearly 5% to Rs 374, also its new high on the BSE, after reporting a more than doubled net profit at Rs 21.32 crore for the quarter ended December 31, 2013 (Q3FY14) on back of strong operational performance.
The broader markets are trading flat and have outperformed the benchmark indices. The BSE Mid-cap index has slipped marginally by 0.31% to 6,291 and the small-cap index is up 0.03% at 6,307.
The market breadth in BSE turns weak with 1,218 shares declining and 1,032 shares advancing.