The broader market indices are trading mixed as BSE Mid Cap is trading down by 0.11% and BSE Small Cap is trading up by 0.03%. The key benchmark indices are trading at BSE 30-share Sensex below 18,250 mark, while Nifty is below the 5,480 mark.
At 12.21 PM BSE SENSEX was trading at 18,245.27 down by 113.42 points (0.62%) and the NSE Nifty was trading at 5,478.85 down by 32.3 points (0.59%).
The BSE MIDCAP was at 6,549.04 down by 7.41 points (0.11%) and the BSE SMLCAP was at 7,891.94 up by 2.32 points (0.03%).
On the economic front, the government has increased the fair and remunerative price of sugarcane by 4.2% at Rs 145 per quintal for 2011-12 from Rs 139.12 per quintal in the previous fiscal year. The new price will float from the month of October as sugar season runs from October to September. The FRP is fixed after considering the margins for sugarcane farmers on account of risk as well as profit on the cost of production of sugarcane as well as cost of transportation.
The central bank today hiked the repo rate to 6.75% from 6.50% while the reverse repo rate has been raised to 5.75% from 5.50%, while Cash Reserve Ratio and the Statutory Liquidity Ratio unchanged at 6% and 24% respectively.
On the corporate front, Apar Industries Ltd rose by 6.02% to Rs 197.25 following the reports that the company secured an order worth Rs. 250 crore from Power Grid Corporation of India to manufacture and supply aluminium conductor steel reinforced conductors.
Maruti Suzuki India Ltd. fell by 2.66% to Rs. 1,191.00 on concerns the company's imports from Japan may get affected due to the ongoing nuclear crisis in Japan triggered by last week's earthquake and tsunami.
At present, the market breadth indicating the overall health is negative with 1,068 stocks advancing, 1,454 shares declining and 109 stocks are left unchanged. Further, the overall market breadth is negative as 10 out of the 13 sectoral indices are trading lower.
Losers from the Sensex Pact till now are Maruti Suzuki (2.68%), HDFC (2.06%), Infosys (1.37%) and TCS (1.3%).
The BSE IT was at 6,101.39 down by 73.66 points or by (1.19%). The main losers were Infosys (1.37%), TCS (1.3%), HCL Tech (0.87%) and Mphasis (0.79%).
Gainers from the Sensex Pact till now are Reliance Comm (3.16%), BHEL (1.39%), HDFC Bank (0.9%) and Bharti Airtel (0.8%).
The BSE CG was at 12,567.56 up by 65.96 points or by (0.53%). The main losers were Havells India (2.8%), Crompton Greaves (2.16%), BHEL (1.39%) and BGR Energy (1.25%).
The leading Asian bourses are trading negative as Hang Seng, Nikkei 225 and Taiwan Weighted are trading lower by 1.71%, 1.44% and 0.5% respectively. The Asian market opened with a dismal note and continues to trade in red following the earthquake and nuclear fallout in Japan. The investors, thus, are losing their confidence as this would hamper the economic growth.
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