The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,970.19 points, was ruling at 17,905.22 points, down 204.67 points or 1.13 percent from its previous close at 18,109.89 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red at 5,400.05 points, down 1.04 percent.
Broader markets too were weak. The BSE midcap index was ruling 1.05 percent down and the BSE smallcap index was trading 1.17 percent down.
Realty, capital goods, consumer durables and banking stocks bore the brunt of the selling. All 13 sectors on the BSE were in the red.
At the BSE, the market breadth was negative with only 685 stocks advancing, 1,783 scrips declining and 99 remaining unchanged.
After the US Senate Tuesday approved an increase in the US debt ceiling, which will also require the government to reduce public spending, credit rating agencies downgraded or assumed a negative outlook on the country’s sovereign debt.
China, which is the largest holder of US bonds, saw one of its major credit rating agencies Dagong Global Credit Rating Co., Wednesday downgraded US sovereign debt and warned of further such moves.
The repercussions were felt in Asia.
The Japanese Nikkei Monday was ruling 2.1 percent lower at 9,637.98 points.
The Hang Seng of the Hong Kong stock exchange was ruling 1.96 percent down at 22,981.88 points, while the Chinese Shanghai composite index was trading flat at 2,680.29 points.
Related Post:
Indian Stocks
- BSE Sensex, ICICI Bank shares, ITC down oct 23 2012
- Indian stock market forecast next week october 22-26 2012
- NCD issue option from Shriram City Union Finance
- NCD issue next week september 10 2012
- Indian stock market, Nifty outlook 10-14 2012
- BUY OR SELL Indian stock april 19 2012
- Nifty India stock futures feb 9 2012
- Indian markets Nifty down january 30 2012
- Reliance Industries (RIL) stock prices down january 23 2012
- indian stock Markets forecast january 23-27 2012
the economic news are bad and so is the sentiment, all this points to the massive rally that is building up, markets will soon turn upwards before anybody realizes it, please visit http://www.kalpeshmaniar.com for accurate market forecasting
ReplyDelete