Business Ideas

Weakness persists

The markets continue to trade weak. The Sensex is quoting at 16,435, weaker by 345 points, and the Nifty is at 4,893, down 114 points. Realty, metal, auto and banking sectors are weak; the FMCG space is the only silver lining. - Markets extend losses - Sensex off day"s low - Asian markets mixed; Nikkei drops in red - Sensex in red in early trades - US markets end flat - "Tightening worries are a bit overblown" M&M has slumped 6% to Rs 1,008, Tata Steel has weakened by 5.5% to Rs 576 and DLF has shed 4.8% at Rs 327. Tata Motors, SBI and Hindalco are the other significant losers. And index heavyweight, Reliance has lost 1.2% at Rs 1028. On the other hand, ITC has strengthened by 1.1% at Rs 257 and Tata Power is trading marginally higher at Rs 1322. The BSE market breadth is weak. Out of 2,814 stocks traded on the BSE, there are 2261 declines as against 513 advances.

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