Markets extend their morning losses

The Indian markets continued to remain negative and extended their morning losses, with both the bourses down by 0.85%. A negative Asian market, as also the weak opening across the globe ahead of Spain and Italy's bonds auctions impacted investor sentiment.

The other Asian markets closed on a negative note today amid concerns from China on the falling property market and a tighter liquidity situation. Investors are now hoping for a rate cut, failing which the growth of the economy will be impacted.

European markets opened on a flat positive note ahead of the report on the American payroll, which is expected to remain positive.

Back home, all the sectoral indices barring Oil & Gas are trading with losses between 0.28%-1.85%.

Among the Sensex shares, Maruti Suzuki is in the lead with gains of 1.37%. All the other stocks on the index are trading negatively, with losses between 0.10%-4.5%. Bharti Airtel, BHEL, Hero MotoCorp and JP Associates remain the top major losers, down by nearly 4% each.

The market breadth, which indicates the overall health of the market, is negative. On the BSE, 1399 shares fell, 1075 shares rose and 112 shares remained unchanged.

We expect the markets to remain negative for the rest of the day, and advise readers to play with caution.