Markets trading weak

The markets continue the weak trend on back of the continuous selling pressure. The Sensex is down 67 points at 19,628 and Nifty is at 5880 down 20 points.

Reliance Communication is the top loser on the sensex down more than 3.2% at Rs 125, Cipla, Hindalco Industries, Sterlite Industries, State Bank of India and HDFC are also trading lower by more than 1.5% each. On the other hand Jaiprakash Associates is the tiop gainer among the Sensex stocks trading at Rs 105 the stocks has gained 1.3%, TCS, Reliance Industries and Infosys are also trading higher.

The Consumer Durables index is the top loser among the sectoral indices down 2.2% or 136 points at 6013 followed by Realty (down 1.4% or 40 points at 2799) , Metal ( down 1.4% or 228 points at 16,113) and Auto indices. Banking stocks are witnessing some buying the Bankex index has recovered marginaly from its low levels but continue to trade in the red, down 34 points at 13,034. Meanwhile, BSEIT index is the top sectoral gainer up 45 points or 0.73% at 6277 followed by Oil & Gas and Capital Goods indices.

Gitanjali Gems, Bajaj Electricals, VIP Industries and Titan Industries are the top losers among the Consumer Durable stocks.

Core Projects, TCS, Infosys and Mphasis are the top gainers on the IT index.

The Broader markets continue to underperform the BSE mid-cap index is down 110 points or 1.46% at 7489 and the small-cap index is lower by 172 points at 9122.

Glodyne Technologies is the top loser among the mid-cap stocks down 20% at Rs 645 followed by KS Oils, MVL, Bayer Corp and Sadbhav Engineering down more than 7% each. Spectacle Industries, Twighlight Litaka, Accentia Technologies, J Kumar Infra and Tata Coffee are the losers on the small-cap index.

The overall market breadth is extremely negative as 1958 stocks are declining and 622 stocks are advancing.