are no helping hands to provide support to global equity
markets and all major indices continue to slip further.
After a positive start the US indices closed lower yesterday,
which has further worsened the mood in Asia. Markets across
the region are trading with heavy losses today.
pressures have started rising for both domestic mutual
funds and overseas investment funds investing in India
and other emerging markets. The complete absence of buyers,
despite the steep fall, has created a near panic situation.
opened at 9665 and went as low as 9201. The index is trading
lower by 446 points at 9310 at 11.10 AM.
opened at 2857 and went on to touch a low of 2683. The
index is trading lower by 141 points at 2719.
heavyweight ONGC has slipped over 5.5 per cent while Reliance
Industries is down nearly 6 per cent.
Technologies is the biggest loser among index stocks,
trading nearly 12 per cent lower. TCS has lost over 4
per cent while Wipro is down over 2 per cent. Infosys
and Satyam have shed 3.5 per cent each.
engineering stocks, ABB and BEML are down 11 per cent
each while BHEL and Siemens have lost around 9 per cent
each. L&T has given up close to 4 per cent.
has shed close to 8 per cent while ITC is down nearly
6 per cent. Dabur has also given up 8 per cent.
banks, HDFC Bank is down 4 per cent while ICICI Bank has
given up nearly 3.5 per cent. SBI is trading lower by
almost 4 per cent.
Steel is down over 6 per cent while SAIL has given up
over 5 per cent.
autos, M&M is down over 6.5 per cent while Tata Motors
and Maruti have given up over 4 per cent each. Bajaj Auto
is down 4.5 per cent while Hero Honda has shed 3.5 per
Ambuja Cements is down 5.5 per cent while ACC is better
off with losses of nearly 2 per cent.
Energy is down nearly 8 per cent while Tata Power is trading
lower by close to 6 per cent.
Airways, VSNL, ZEE Tele and Tata Chemicals are all down
over 8 per cent each.
large number of mid-caps and small caps are on their lower
price circuits. Most stocks which saw some volume in opening
trades are locked in the 20 per cent lower circuit. The
mid-cap index is now trading with losses of over 11 per
cent. There are only 7 stocks on the NSE which are trading
Industries, Visaka Industries, Shah Alloy Adlabs, Panacea
Sical, India Bulls, Triveni Engineering, Man Industries,
Eicher Motors and Blue Dart are some of the stocks which
are locked in the 20 per cent lower circuit.