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On the domestic front, the crucial Budget session of Parliament begins today with the United Progressive Alliance government set to face a stiff challenge because of the controversies surrounding the chopper deal.
By 1150 hrs, the Sensex was down 180 points at 19,463 and the Nifty was 52 points down at 5,891 after having touched a low of 19,448 levels and 5,887 levels, respectively in intra-day deals.
The broader markets are performing dismal in-line with the benchmark indices in noon deals today. The BSE Mid-cap index has declined 0.79% at 6,665 and the small-cap index is down 0.95% at 6,610. Both the Sensex and the Nifty have dropped nearly 1% each.
Among the key mid-cap loser, Maharashtra Seamless is the top loser, down almost 6%. SpiceJet, Responsive Industries, Havells India, Indiabulls Real Estate, Pantaloon Retail (India), Aurobindo Pharma and PC Jeweller slipped between 3-4%.
SKS Microfinance has slumped 2.39% at Rs 143.20 as insurance regulator IRDA imposed Rs 50 lakh penalty on the company which collected extra funds, apart from the premium, as a corporate insurance agent without proper disclosure to policy-holders.
Mumbai-based textile major, Alok Industries slipped nearly 1% to Rs 9.99 as the company decided to part ways with London-based Savile Row Co.
On the gaining side, Videocon Inds has spurted 6.63% at Rs 205 on news that ONGC is in talks to buy the company’s 10% stake in a giant gas field off Mozambique.
Madras Cements gained and touched a yearly high at Rs 254 today. The southern cement company had impressive Q3 earnings as compared to its peers like ACC and Ambuja.
The overall breadth of the BSE mid-cap index remains dismal as 201 stocks are declining while 45 are advancing.
