The Indian equity markets have made a weak start tracking negative cues from global indices. The US markets once again closed lower on the enduring worries of European debt crisis while, all the Asian peers barring KLSE Composite were trading in the negative terrain at this point of time, indicating somber investors' sentiments. Back home, selling pressure witnessed in most of the key heavyweights as investors remained cautious ahead of the May F&O expiry. The BSE's Sensex was trading below its crucial 18,000 mark. On the sectoral front consumer durables witnessed the maximum gain in trade followed by healthcare and metal while, realty, software and technology remained the top losers on the BSE sectoral space. The broader indices too were trading in the red. Index Heavyweight Reliance Industries edged lower in the early trade while, realty major DLF was trading with a cut of about four and a half percent on reporting disappointing Q4 result. The market breadth on the BSE turned negative; there were 730 shares on the gaining side against 848 shares on the losing side while 63 shares remained unchanged.
The BSE Sensex opened at 17,976.36; about 35 points lower compared to its previous closing of 18,011.97, and has touched a low of 17,924.26 while high remained its opening.
The index is currently trading at 17,949.38, down by 62.59 points or 0.35%. There were 7 stocks advancing against 23 declines on the index.
The overall market breadth has made a negative start with 44.49% stocks advancing against 51.68% declines. The broader indices too were trading in the red; the BSE Mid cap and Small cap indices were down by 0.21% and 0.06% respectively.
The only gaining sectoral indices on the BSE were, CD up by 0.51%, HC up by 0.36%, Metal up by 0.27%, PSU up by 0.26% and FMCG was up by 0.02%. While, Realty down by 2.03%, IT down by 0.95%, TECk down by 0.85%, Oil and Gas down by 0.54% and CG down by 0.52% were the top losers on the index.
The top gainers on the Sensex were Jindal Steel up by 1.15%, HUL up by 0.74%, Tata Motors up by 0.74%, HDFC up by 0.59% and Sterlite Industries was up by 0.43%.
On the flip side, DLF down by 4.43%, RCom down by 1.51%, Tata Power down by 1.35%, Bharti Airtel down by 1.22% and Infosys down by 1.16% were the top losers on the index.
Meanwhile, India's crude steel production capacity swelled by 7.2% in the financial year 2010-11 to 78 million tonnes per annum (mtpa) compared to 72.76 mtpa in the previous year, according to the United Progressive Alliance (UPA), Report to the People 2010-11 released by the Prime Minister Manmohan Singh. The presser also highlighted that total output of crude steel stood at 68.32 mtpa during 2010.
The official statement opined that public sector steel companies performed well during the year and their combined profit after tax was Rs 8,605 crore during the period April-December 2010. The process of drafting a new National Steel Policy has been initiated and a five year strategy paper has been prepared for promotion of the steel sector. A policy paper on research and development has also been prepared with special focus on beneficiation, coal ash reduction and promotion of high grade value added steel in the country, the statement emphasized.
It also avowed that government in its bid to enhance the productivity, efficiency and competitiveness of the steel sector, has approved a number of innovative research and development proposals and research projects at a cost of Rs 442 crore.
Moreover, the Report to the People 2010-11 also underscored that the demand for major fertilizers in the country is on the rise and has been the highest during 2010-11. During the year approximately Rs 65,000 crore has been paid as subsidy to fertilizer companies to make subsidized fertilizers available to farmers at affordable prices.
The S&P CNX Nifty opened at 5,389.01; about 5 points lower compared to its previous closing of 5,394.85, and has touched a low of 5,371.75 while high remained its opening.
The index is currently trading at 5,376.30, down by 18.55 points or 0.34%. There were 15 stocks advancing against 35 declines on the index.
The top gainers of the Nifty were Sun Pharma up by 1.46%, Jindal Steel up by 1.43%, HUL up by 1.22%, Cairn up by1.15% and Tata Motors up by 1.06%.
DLF down by 4.24%, BPCL down by 1.61%, Reliance Capital down by 1.39%, Bharti Airtel by 1.38% and Tata Power was down by 1.30%, were the major losers on the index.
All the Asian markets barring KLSE Composite were trading in the red; Shanghai Composite was down 6.54 points or 0.24% to 2,760.51, Hang Seng was down 126.02 points or 0.55% to 22,604.76, Jakarta Composite was down 9.68 points or 0.26% to 3,776.26, Nikkei 225 was down 35.50 points or 0.37% to 9,441.67, Straits Times was down 12.23 points or 0.39% to 3,100.86, Seoul Composite was down 11.46 points or 0.56% to 2,050.30 and Taiwan Weighted was down 26.98 points or 0.31% to 8,729.63.
On the flip side, KLSE Composite was up 2.81 points or 0.18% to 1,534.93
The BSE Sensex opened at 17,976.36; about 35 points lower compared to its previous closing of 18,011.97, and has touched a low of 17,924.26 while high remained its opening.
The index is currently trading at 17,949.38, down by 62.59 points or 0.35%. There were 7 stocks advancing against 23 declines on the index.
The overall market breadth has made a negative start with 44.49% stocks advancing against 51.68% declines. The broader indices too were trading in the red; the BSE Mid cap and Small cap indices were down by 0.21% and 0.06% respectively.
The only gaining sectoral indices on the BSE were, CD up by 0.51%, HC up by 0.36%, Metal up by 0.27%, PSU up by 0.26% and FMCG was up by 0.02%. While, Realty down by 2.03%, IT down by 0.95%, TECk down by 0.85%, Oil and Gas down by 0.54% and CG down by 0.52% were the top losers on the index.
The top gainers on the Sensex were Jindal Steel up by 1.15%, HUL up by 0.74%, Tata Motors up by 0.74%, HDFC up by 0.59% and Sterlite Industries was up by 0.43%.
On the flip side, DLF down by 4.43%, RCom down by 1.51%, Tata Power down by 1.35%, Bharti Airtel down by 1.22% and Infosys down by 1.16% were the top losers on the index.
Meanwhile, India's crude steel production capacity swelled by 7.2% in the financial year 2010-11 to 78 million tonnes per annum (mtpa) compared to 72.76 mtpa in the previous year, according to the United Progressive Alliance (UPA), Report to the People 2010-11 released by the Prime Minister Manmohan Singh. The presser also highlighted that total output of crude steel stood at 68.32 mtpa during 2010.
The official statement opined that public sector steel companies performed well during the year and their combined profit after tax was Rs 8,605 crore during the period April-December 2010. The process of drafting a new National Steel Policy has been initiated and a five year strategy paper has been prepared for promotion of the steel sector. A policy paper on research and development has also been prepared with special focus on beneficiation, coal ash reduction and promotion of high grade value added steel in the country, the statement emphasized.
It also avowed that government in its bid to enhance the productivity, efficiency and competitiveness of the steel sector, has approved a number of innovative research and development proposals and research projects at a cost of Rs 442 crore.
Moreover, the Report to the People 2010-11 also underscored that the demand for major fertilizers in the country is on the rise and has been the highest during 2010-11. During the year approximately Rs 65,000 crore has been paid as subsidy to fertilizer companies to make subsidized fertilizers available to farmers at affordable prices.
The S&P CNX Nifty opened at 5,389.01; about 5 points lower compared to its previous closing of 5,394.85, and has touched a low of 5,371.75 while high remained its opening.
The index is currently trading at 5,376.30, down by 18.55 points or 0.34%. There were 15 stocks advancing against 35 declines on the index.
The top gainers of the Nifty were Sun Pharma up by 1.46%, Jindal Steel up by 1.43%, HUL up by 1.22%, Cairn up by1.15% and Tata Motors up by 1.06%.
DLF down by 4.24%, BPCL down by 1.61%, Reliance Capital down by 1.39%, Bharti Airtel by 1.38% and Tata Power was down by 1.30%, were the major losers on the index.
All the Asian markets barring KLSE Composite were trading in the red; Shanghai Composite was down 6.54 points or 0.24% to 2,760.51, Hang Seng was down 126.02 points or 0.55% to 22,604.76, Jakarta Composite was down 9.68 points or 0.26% to 3,776.26, Nikkei 225 was down 35.50 points or 0.37% to 9,441.67, Straits Times was down 12.23 points or 0.39% to 3,100.86, Seoul Composite was down 11.46 points or 0.56% to 2,050.30 and Taiwan Weighted was down 26.98 points or 0.31% to 8,729.63.
On the flip side, KLSE Composite was up 2.81 points or 0.18% to 1,534.93
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