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.
The Sensex, 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, HDFC, Infosys, ITC, Cipla, GAIL India, Wipro and BHEL 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, DLF and Ranbaxy Laboratories are down with notable losses..
Dr Reddy's Laboratories, BPCL, Sun Pharmaceutical Industries, Reliance Industries, Tata Consultancy Services, Siemens 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.