WEAKNESS

The Indian equity market continues weak trade with substantial loss in the late morning session. A sharp drop in European markets on Monday amid increasing concerns about debt worries in the zone and extensive selling in Asian markets hampered the investors' sentiments to a large extend. The Sensex has fallen over 180 points while Nifty holding 4,900 mark. On sectoral front all sectoral indices are in the red except automobile stocks. Investors are pressing some heavy sales in the realty space, mirroring sharp losses posted by key stocks in that space. Metal, information technology and power stocks too were trading lower. Capital goods stocks, which started off on a mixed note, are drifting lower now. Oil, FMCG and pharma stocks are off their highs. On the global front, most of the Asian markets were trading in red on fears that Europe's sovereign debt troubles are worsening and could trigger a second, full-blown banking crisis. Back home, the market breadth favoring the negative trend; there were 971 shares on the gaining side against 1,378 shares on the losing side while 95 shares remained unchanged.
The BSE Sensex is currently trading at 16,555.00 down by 158.33 points or 0.95%. The index has touched a high and low of 16,675.25 and 16,488.30 respectively. There were 7 stocks advancing against 23 declines on the index.
The broader indices too succumbed to profit booking; the BSE Mid cap index was down by 0.64% while Small cap index was down by 0.28%.
The only gaining sectoral index on the BSE was Auto up by 0.56%. Meanwhile, Realty down by 3.54%, Bankex down by 1.84%, TECk down by 1.40%, Metal down by 1.18% and Power down by 1.03% were the top losers on the index.
The top gainers on the Sensex were Mahindra & Mahindra up by 2.28%, Jindal Steel up by 1.36%, Maruti Suzuki up by 1.29%, Tata Motors up by 0.99% and ONGC up by 0.64%.
On the flip side, DLF down by 5.75%, Sun Pharma down by 3.20%, SBI down by 2.86%, Bharti Airtel down by 2.69% and Tata Steel down by 2.50% were the top losers on the Sensex.
Meanwhile, despite the slowdown in European nations, India's coffee exports for the first five months of current financial year jumped by 29% to 1,68,094 tonnes from 1,30,048 tonnes in the same period of corresponding year. European nations such as Italy, Germany, Russia, Belgium and Spain are main destination for the Indian coffee.
As per the Coffee Board data, in April to August 2011, the realization of coffee price in the April to August 2011 increased by 37% to Rs. 1,35,737 per tonnes compared to unit value of Rs. 99,271 per tonnes in the same period last fiscal.
January to August 2011, India's coffee exports increased by 34% to 2,68,169 tonnes from 2,00,517 tonne sin the same period of pervious year. In terms of value, coffee exports surged by 77% to Rs 22,281.66 crore in April to August 2011 from Rs 1291.01 crore during the same period last year.

During October to August 2010-11, India's exports increased by 36% to 3,34,031 tonnes from 2,45,061 tonnes in the last year. Coffee years run from October to September.

The S&P CNX Nifty is currently trading at 4,965.95, lower by 51.25 points or 1.02%. The index has touched a high and low of 5,001.10 and 4,942.90 respectively.  There were 13 stocks advancing against 36 declines on the index and one remained unchanged.
The top gainers of the Nifty were M&M up by 2.59%, Ambuja Cement up by 2.04%, Jindal Steel up by 1.99%, Maruti up by 1.29% and Tata Motors up by 1.10%.
On the flip side, DLF down by 5.82%, Reliance Communication down by 4.32%, Reliance Infra down by 3.67%, Reliance Capital down by 3.52% and SBI down by 3.15%, were the major losers on the index.
All the Asian equity indices were trading in the red; Shanghai Composite was down by 0.32%, Hang Seng was down by 1.49%, KLSE Composite was down by 0.50%, Nikkei 225 down by 2.01%, Straits Times was down by 1.20%, Seoul Composite was down by 0.96%, Taiwan Weighted down by 2.44% and Jakarta Composite down by 0.19 points.