After languishing in negative zone in morning trade, key benchmark indices extended losses in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was off 127.89 points or 0.47% at 26,907.96. The 50-unit CNX Nifty was off 34.05 points or 0.42% at 8,143.35. The Sensex was currently hovering below the psychological 27,000 mark after falling below that level earlier during the trading session.
In overseas markets, Asian stocks declined with the exception of mainland Chinese markets which surged, catching up to a rally in global equities as trading in mainland China resumed after a week-long break. The Shanghai Composite was currently up 3.4%. Trading in US index futures indicated that the Dow Jones Industrial Average could slide 111 points at opening bell today, 8 October 2015. US stocks rose yesterday, 7 October 2015, thanks to a bounce in biotechnology companies.
Closer home, the market breadth indicating the overall health of the market was negative. On BSE, 1,138 shares fell and 1,117 shares rose. A total of 103 shares were unchanged. The BSE Mid-Cap index was down 0.62%. The fall in the index was higher than Sensex's decline in percentage terms. The BSE Small-Cap index was down 0.09%. The fall in the index was lower than Sensex's decline in percentage terms.
Telecom stocks were mixed. Bharti Airtel (down 1.54%) and Idea Cellular (down 1.98%) declined. MTNL (up 0.29%), Tata Teleservices (Maharashtra) (up 3.16%) and Reliance Communications (up 1.45%) gained.
Realty stocks also witnessed a mixed trend. Sobha (up 1.73%), Omaxe (up 0.07%), NBCC (up 0.64%) and DLF (up 1.41%) edged higher. Indiabulls Real Estate (down 0.85%), Unitech (down 0.83%), Housing Development & Infrastructure (HDIL) (down 1.45%), Oberoi Realty (down 0.7%), Phoenix Mills (down 0.77%),
DLF rose 1.41% ahead of meeting of the company's board of directors of the company today, 8 October 2015, to consider and deliberate on the recommendations of the Audit Committee on various strategic and financial options to drive sustainable and long-term growth and development of rental business of the company. The Audit Committee is also likely to suggest ways to resolve conflict of interest in the ownership of DLF Cyber City Developers Limited (DCCDL) with inter-se affiliated persons/entities.
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Index heavyweight and cigarette maker ITC shed 1.83% to Rs 339.95 on reports that the Uttar Pradesh (UP) state government has decided to ban the sale of loose cigarette sticks in the state. The stock hit high of Rs 347 and low of Rs 338.10 so far during the day. UP is India's most populous state, and contributes 3-4% to ITC's volumes, according to reports.
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