Business IdeasMarkets extend losses on Asian cues
After a weak opening today, the Indian markets have extended losses on subdued cues from Asian peers. The Sensex has dropped further to a low of 16,706 - down 160 points from the day"s high. The index is now down 134 points at 16,726.
- Gujarat NRE up on 100% jump in Q3 net - Crompton Greaves gains on plans of bonus issue - Markets down in early trades - Nifty below 5,000 in opening trades - Tech view: Markets likely to open weak - Downside breakout could test 4,800
The Nifty is down 46 points at 4,991.
Most indices, barring PSU, are in the red today. The IT index has dropped 2% to 5,091. The realty, bankex and consumer durables indices are down over 1% each.
Jaiprakash Associates has shed 3% at Rs 423. HDFC Bank has dropped 2.5% to Rs 1,635. DLF has declined 2% to Rs 346.
Infosys and Tata Steel have slipped 1.8% each. Reliance Communications, ICICI Bank, Sterlite, Tata Power and TCS are the other major losers in the Sensex today.
On the other hand, Hindalco has gained 1.5% to Rs 164. Maruti Suzuki has added 1% to Rs 1,452 on a good Q3 number.
The BSE market breadth is negative. Out of 2,497 stocks traded 1,532 have declined while 908 have advanced.