Trading got off to a weak start on the Indian bourses this morning with investors indulging in some selling, tracking weak global cues. Uncertain economic outlook and caution ahead of key earnings reports and economic data are also contributing to the market's decline.
Bank, power, oil and capital goods stocks are trading weak. Realty stocks are also drifting lower. Pharmaceuticals and consumer durables stocks are trading firm, while metal, information technology and automobile stocks are trading mixed.
, which declined to 18,865.97, is currently down 33.18 points or 0.18% at 18,905.28. The Nifty
index of the National Stock Exchange is down 15.60 points or 0.27% at 5731.35, off an early low of 5719.50.
BHEL, a prominent gainer last week, is down 2% on profit taking. Tata Power
is trading lower by about 1.6%, while Wipro, Hindalco
and Reliance Industries
are down 1% - 1.2%.
State Bank of India, ICICI Bank, Larsen & Toubro, GAIL India, Hero Motocorp, HDFC Bank
and Hindustan Unilever
are also trading weak.
Realty stock DLF
is down more than 3%, after plunging nearly 5% in early trade. The stock is down following social activist Arvind Kejriwal accusing the company of favouring Robert Vadra, son-in-law of Congress chief and the UPA Chairperson Sonia Gandhi, with easy loans for some undue gains.
In a clarification DLF, has rejected the allegations and said that it had given Rs 65 crore as business advances out of which Rs 15 crore was fully refunded and Rs 50 crore was used for purchase of land.
Ambuja Cements, Kotak Bank, Reliance Infrastructure, Axis Bank, ACC, Punjab National Bank, Grasim
Industries, Bank of Baroda
and Jaiprakash Associates
are down with sharp to moderate losses.
Sun Pharmaceuticals Industries is trading stronger by about 2.5%. Cipla, IDFC, Bharti Airtel, Maruti Suzuki, BPCL, Bajaj Auto
and Asian Paints
are up 1% - 1.8%.
Jindal Steel, Sesa Goa, Lupin, Ranbaxy
Laboratories, Dr Reddy's
Laboratories, HDFC, Tata Consultancy Services
and Cairn India
are also trading firm.