Mkts trading volatile; metal, bank stocks worst-hit

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posted on 16 years ago — updated on 1 second ago

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Stock markets in India are witnessing choppy trade on the back of weak global cues.

Mumbai: The markets are trading extremely volatile today since opening. Midcap and smallcap indices which were outperforming the frontline counters for some time are trading weak on Tuesday.

All the key BSE indices were in red led by the metal and banking stocks. Market breadth was extremely bad. On NSE 280 stocks were on the advancing side and over 850 were on the downside.

At 11.00 pm, the Sensex is down 13.46 points or 0.07% at 19247.89, and the Nifty down 18.60 points or 0.32% at 5758.40. About 1061 shares have advanced, 1978 shares declined, and 54 shares are unchanged on BSE.

Top gainers on the Sensex are DLF at Rs 956.10 up 1.25%, Bharti Airtel at Rs 912.55 up 0.86% and ONGC at Rs 1,175 up 0.73%.

Top losers on the Sensex are Hindalco at Rs 196.20 down 2.22%, HDFC Bank aT Rs 1,645 down 1.98% and Larsen at Rs 4,020 down 1.52%.

Midcaps index was underperforming today and was down over 0.8%. Most active counter in today trade were IFCI, Ispat, Kaushyalya Infra and Reliance Industries.

In the banking space, top losers were HDFC Bank, ICICI bank and HDFC and SBI. In the metals space, Hindalco and Tata Steel were the worst hit counters.

The markets opened on quiet note on Tuesday morning and slipped in red within few minutes of trade taking weak cues from the global markets. Banking, realty and power stocks opened weak.

At 9:57 am, Sensex was down 78 points at 19182 and Nifty was down 31 points at 5745. Major losers were DLF, SBI, Tata Motors, L&T, ICICI Bank, IFCI, HDFC, HDFC Bank, RNRL, RPL and Powergrid Corp.

Asian markets: Asian markets were trading mixed. Hong Kong's Hang Seng plunged 0.94% or 250.37 points at 26,346.21, Japan's Nikkei slipped 0.77% or 117.31 points at 15,132.48, Taiwan's Taiwan Weighted was down 0.40% or 31.27 points at 7,799.58. However, Singapore's Straits Times advanced 0.19% or 6.34 points at 3,359.90. South Korea's Seoul Composite was up 0.38% or 7.08 points at 1,846.90.

US markets: The Dow plunged 172.65 points, or 1.29%, to 13,167.20. The Standard & Poor's 500 index slipped 22.05 points, or 1.50%, to 1,445.90, and the Nasdaq composite index fell 61.28 points, or 2.32%, to 2,574.46.