Metal, capital goods, power and FMCG stocks continue to trade weak on the Indian bourses where the mood is quite bearish today, amid lingering concerns economic slowdown. Realty, PSU and automobile stocks too are mostly trading weak.
Information technology stocks are off their early highs. Bank and oil stocks are trading mixed, while pharmaceuticals stocks are trading slightly weak. Midcap and smallcap stocks, which took a severe beating last week, are trading weak once again due to selling pressure. The market breadth is very weak.
, which declined to 18,760.41, is now down 104.57 points or 0.55% at 18,813.95. The Nifty
is down with a loss of 39.25 points or 0.69% at 5680.45.
Sterlite Industries, Jindal Steel
& Power and Hindalco
are down 2.8% to 3.3%. Tata Steel
is down with a loss of 1.4% and Coal India
is trading lower by 1.2%.
Bajaj Auto is down 2.8% due to a decline in vehicles sales in February. Maruti Suzuki
is down nearly 2%, while Hero Motocorp, Tata Motors
and Mahindra & Mahindra
are trading lower by 0.3% - 0.8%.
Larsen & Toubro is down by a little over 2%. Hindustan Unilever
, GAIL India
are down 0.5% - 1.5%.
Cement stocks Ambuja Cements
(down 4.8%), ACC
(down 3.9%), Ultratech Cement (down 1.9%), Jaiprakash Associates
(down 1.8%) and Grasim Industries
(down 1.1%) are also trading sharply lower.
Reliance Infrastructure, Cairn India
, Asian Paints
and Ranbaxy Laboratories
are down with notable losses..
Dr Reddy's Laboratories, BPCL
, Sun Pharmaceutical
Industries, Reliance Industries
, Tata Consultancy Services
and State Bank of India
are all up in positive territory with modest gains.
NHPC (down nearly 20%) has plunged on huge volumes. On the National Stock Exchange, NHPC tops the chart, clocking a turnover of over Rs 320 crore, on a volume of over 1.6 billion shares.