Markets attempt pullback

The markets continue to recover from the lows of the day; the Sensex is now down 131 points at 19,985 and Nifty is lower by 42 points at 6020.

The European markets are trading in the negative zone, CAC is at 3808 down 19 points and FTSE is down 23 points at 5679. Most of the Asian markets also ended the day in the red. Taiwan closed at 8060 down 144 points, Nikkei ended flat at 9498 losing onmly one point and Hang Seng is also trading at 23,525 down 231 points.

Backhome, ACC leads the Sensex losers chart down more than 3% at Rs 967, followed by L&T, J P Associates, Bharti Airtel, ICICI Bank and ITC down more than 2.2% each. However, TCS, NTPC, Hero Honda and Reliance Industries are the only gainers on the Sensex.

Except IT and Oil & Gas indices all the sectoral indices are trading in the negative territory with Capital Goods index being the top loser, the index is down 2.07% or 329 points at 15,575 followed by FMCG, Metal, realty and Bankex.

Crompton Greaves is the top loser among the capital goods stocks, down 3.2% at Rs 305 followed by L&T, Areva T&D, Jyoti Structures, Usha Martin and Havells India down more than 25 each. Meanwhile Hindalco Industries is the top loser among the Metal stocks, down 2% at Rs 208 followed by SAIL, JSW Steel, NMDC and Sterlite Industries.

The market breadth is extremely negative. out of 2983 stocks traded on the BSE, 1907 stocks are declining and 982 stocks are advancing.