The Indian equity markets have made a negative start
tracking weak cues from global indices. The US markets made a mixed
closing after a volatile day of trade overnight while, most of the Asian
markets were trading in the negative terrain at this point of time.
Back home, selling witnessed in most of the key heavyweights dragged the
NSE's Nifty below their crucial 5,000 mark. Moreover, Anil Dhirubhai
Ambani Group (ADAG) companies like Reliance Capital, Reliance Infra,
Reliance Power and RCom down by 4-7 percent in the trade as the CBI has
informed the Supreme Court that it is probing the alleged involvement of
Anil Ambani in the 2G scam. On the sectoral front, consumer durables,
capital goods and healthcare remained the only gainers while, oil and
gas, power and banking remained the top losers on the BSE sectoral
space. The broader indices were outperforming benchmarks while, the
market breadth has made a positive start; there were 1,029 shares on the
gaining side against 706 shares on the losing side while 59 shares
remained unchanged.
The BSE Sensex opened at 16,599.74; about 100 points lower compared to its previous closing of 16,698.07, and has touched a low of 16,495.51 while high remain its opening.
The index is currently trading at 16,559.82, down by 138.25 points or 0.83%. There were just 4 stocks advancing against 26 declines on the index.
The overall market breadth has made a positive start with 57.36% stocks advancing against 39.35% declines. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices were up by 0.35% and 0.34% respectively.
The only gaining sectoral indices on the BSE were, CD up by 1.24%, CG up by 0.48% and HC up by 0.16%. While, Oil and Gas down by 1.33%, Power down by 1.13%, Bankex down by 1.11%, IT down by 1.10% and FMCG down by 0.84% were the top losers on the index.
The top gainers on the Sensex were L&T up by 1.57%, Bajaj Auto up by 1.13%, Bharti Airtel up by 0.41% and Coal India was up by 0.20%.
On the flip side, Tata Power down by 1.81%, Jaiprakash Associates down by 1.75%, HUL down by 1.70%, BHEL down by 1.64% and SBI down by 1.54% were the top losers on the index.
Meanwhile, describing bounce back in India' weekly food inflation as grave concern, Finance Minister Pranab Mukherjee has said that 'Food inflation has gone up and it is perilously close to double digits... Food prices are an area of major and grave concern.'
Country's weekly food inflation measured by the wholesale price index (WPI) increased to 9.13% for the week ended September 17 from 8.84% in the last week. The surge in weekly food inflation after three consecutive weeks of decline was due to increase in prices of potatoes, pulses and poultry. However, as per the official data, prices of gram, masoor, arhar, urad and poultry increased on an annual basis. Potato prices too increased by about 15% on an annual basis for the week under observation. However, the WPI for Non-Food article declined significantly, it fell by almost 5% to 12.89% for week ended September 17 from 17.42% in last week. 'As a result, WPI inflation in primary articles has declined. But fuel and power, light and lubricants, they have also contributed (to rising inflation),' finance minister said.
The S&P CNX Nifty opened at 4,990.15; about 9 points higher compared to its previous closing of 5,015.45, and has touched a low of 4,952.75 while, high remained its opening.
The index is currently trading at 4,973.50, down by 41.95 points or 0.84%. There were 9 stocks advancing against 41 declines on the index.
The top gainers of the Nifty were Sesa Goa up by 2.85%, Ranbaxy up by 1.92%, L&T up by 1.56%, Bajaj Auto up by 1.26% and Ambuja Cement up by 1.16%.
Reliance Capital down by 6.42%, Reliance Infra down by 5.33%, Reliance Power down by 4.26%, RCom down by 4.12% and PNB was down by 2.52%, were the major losers on the index.
The BSE Sensex opened at 16,599.74; about 100 points lower compared to its previous closing of 16,698.07, and has touched a low of 16,495.51 while high remain its opening.
The index is currently trading at 16,559.82, down by 138.25 points or 0.83%. There were just 4 stocks advancing against 26 declines on the index.
The overall market breadth has made a positive start with 57.36% stocks advancing against 39.35% declines. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices were up by 0.35% and 0.34% respectively.
The only gaining sectoral indices on the BSE were, CD up by 1.24%, CG up by 0.48% and HC up by 0.16%. While, Oil and Gas down by 1.33%, Power down by 1.13%, Bankex down by 1.11%, IT down by 1.10% and FMCG down by 0.84% were the top losers on the index.
The top gainers on the Sensex were L&T up by 1.57%, Bajaj Auto up by 1.13%, Bharti Airtel up by 0.41% and Coal India was up by 0.20%.
On the flip side, Tata Power down by 1.81%, Jaiprakash Associates down by 1.75%, HUL down by 1.70%, BHEL down by 1.64% and SBI down by 1.54% were the top losers on the index.
Meanwhile, describing bounce back in India' weekly food inflation as grave concern, Finance Minister Pranab Mukherjee has said that 'Food inflation has gone up and it is perilously close to double digits... Food prices are an area of major and grave concern.'
Country's weekly food inflation measured by the wholesale price index (WPI) increased to 9.13% for the week ended September 17 from 8.84% in the last week. The surge in weekly food inflation after three consecutive weeks of decline was due to increase in prices of potatoes, pulses and poultry. However, as per the official data, prices of gram, masoor, arhar, urad and poultry increased on an annual basis. Potato prices too increased by about 15% on an annual basis for the week under observation. However, the WPI for Non-Food article declined significantly, it fell by almost 5% to 12.89% for week ended September 17 from 17.42% in last week. 'As a result, WPI inflation in primary articles has declined. But fuel and power, light and lubricants, they have also contributed (to rising inflation),' finance minister said.
The S&P CNX Nifty opened at 4,990.15; about 9 points higher compared to its previous closing of 5,015.45, and has touched a low of 4,952.75 while, high remained its opening.
The index is currently trading at 4,973.50, down by 41.95 points or 0.84%. There were 9 stocks advancing against 41 declines on the index.
The top gainers of the Nifty were Sesa Goa up by 2.85%, Ranbaxy up by 1.92%, L&T up by 1.56%, Bajaj Auto up by 1.26% and Ambuja Cement up by 1.16%.
Reliance Capital down by 6.42%, Reliance Infra down by 5.33%, Reliance Power down by 4.26%, RCom down by 4.12% and PNB was down by 2.52%, were the major losers on the index.
Most
of the Asian equity indices were trading in the red; Shanghai Composite
was down 8.86 points or 0.37% to 2,356.48, Hang Seng was down 374.59
points or 2.08% to 17,636.47, Nikkei 225 was down 34.13 points or 0.39%
to 8,667.10, Straits Times was down 40.99 points or 1.51% to 2,667.14,
Seoul Composite was down 21.72 points or 1.23% to 1,747.57 and Taiwan
Weighted was down by 11.18 points or 0.16% to 7,171.43.
On the flip side, Jakarta Composite was up 8.74
points or 0.25% to 3,545.92 and KLSE Composite was up by 0.19 points or
0.01% to 1,387.65. 
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