BSE
172.75
-4.15 (-2.35%)
Vol:2433929 shares traded
NSE
172.65
-4.45 (-2.51%)
Vol:18077891 shares traded
MUMBAI: The National Stock Exchange's Nifty was off intraday lows as investors stepped in to buy stocks available at lower levels after a sharp fall earlier in the day. All the sectoral indices were in the red with capital goods, auto, realty and metals leading the decline. Recovery in index heavy-weightReliance Industries also provided support to the benchmarks.
The market has been witnessing selling pressure on the back of eurozone debt crisis and domestic factors like high inflation, decline in IIP figures, high interest rates and weakness in rupee against the dollar.
The rupee hit fresh lows on concerns that high rates and inflation would impact economic growth badly. The partially convertible rupee was 54.19 per dollar, against previous close of 53.71/72. It touched an all-time low of 54.30 in early trade.
Meanwhile, according to analysts, the Reserve Bank of India is likely to take a pause and not hike rates any further. They are of the view that the central bank may not cut CRR but would continue with its open market operations.
"We believe, with a reasonable degree of confidence that WPI inflation will fall around RBI's projection of 7.0 per cent by March 2012. Nonetheless, despite slowing demand, inflation will remain above the RBI's tolerance limit of 5 per cent for some months to come. We therefore, do not expect a cut in CRR or repo rate in the monetary policy announcement on Friday this week. To alleviate liquidity shortage RBI would continue with open market operations (OMOs), if necessary," Crisil note said.
At 01:05 pm; the Nifty was at 4714.80, down 48.45 points or 1.02 per cent. The broader index touched a high of 4732.75 and low of 4673.85 in trade so far.
The Bombay Stock Exchange's Sensex was at 15731.02, down 150.12 points or 0.95 per cent. The 30-share index touched intraday low of 15596.22 and high of 15795.84.
BSE Midcap Index was down 1.56 per cent and BSE Smallcap Index fell 1.93 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was down 2.88 per cent, BSE Auto Index was 1.93 per cent lower and BSE Realty Index fell 1.77 per cent.
Bharti Airtel (-4.13%), Tata Motors (-3.87%), Larsen & Toubro (-3.52%), Sterlite Industries (-3.08%) and BHEL (-2.83%) were the major Nifty losers.
Coal India (1.45%), Hindustan Unilever (1.12%), Tata Power (0.98%), Cipla (0.89%) and HDFC (0.79%) were amongst the gainers.
The Central Bureau of Investigation has dropped 2 out of 3 cases against Reliance Industries in KG-D6 basin case. There's no loss to government by Reliance Industries' capex increase in the basin, say reports. The scrip bounced back in the green after falling over 2 per cent earlier in the day.
Market breadth was negative on the NSE with 245 gainers against 1219 losers.
The market has been witnessing selling pressure on the back of eurozone debt crisis and domestic factors like high inflation, decline in IIP figures, high interest rates and weakness in rupee against the dollar.
The rupee hit fresh lows on concerns that high rates and inflation would impact economic growth badly. The partially convertible rupee was 54.19 per dollar, against previous close of 53.71/72. It touched an all-time low of 54.30 in early trade.
Meanwhile, according to analysts, the Reserve Bank of India is likely to take a pause and not hike rates any further. They are of the view that the central bank may not cut CRR but would continue with its open market operations.
"We believe, with a reasonable degree of confidence that WPI inflation will fall around RBI's projection of 7.0 per cent by March 2012. Nonetheless, despite slowing demand, inflation will remain above the RBI's tolerance limit of 5 per cent for some months to come. We therefore, do not expect a cut in CRR or repo rate in the monetary policy announcement on Friday this week. To alleviate liquidity shortage RBI would continue with open market operations (OMOs), if necessary," Crisil note said.
At 01:05 pm; the Nifty was at 4714.80, down 48.45 points or 1.02 per cent. The broader index touched a high of 4732.75 and low of 4673.85 in trade so far.
The Bombay Stock Exchange's Sensex was at 15731.02, down 150.12 points or 0.95 per cent. The 30-share index touched intraday low of 15596.22 and high of 15795.84.
BSE Midcap Index was down 1.56 per cent and BSE Smallcap Index fell 1.93 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was down 2.88 per cent, BSE Auto Index was 1.93 per cent lower and BSE Realty Index fell 1.77 per cent.
Bharti Airtel (-4.13%), Tata Motors (-3.87%), Larsen & Toubro (-3.52%), Sterlite Industries (-3.08%) and BHEL (-2.83%) were the major Nifty losers.
Coal India (1.45%), Hindustan Unilever (1.12%), Tata Power (0.98%), Cipla (0.89%) and HDFC (0.79%) were amongst the gainers.
The Central Bureau of Investigation has dropped 2 out of 3 cases against Reliance Industries in KG-D6 basin case. There's no loss to government by Reliance Industries' capex increase in the basin, say reports. The scrip bounced back in the green after falling over 2 per cent earlier in the day.
Market breadth was negative on the NSE with 245 gainers against 1219 losers.
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