Markets extend early losses

Indian markets opened on a negative note today and extended their losses from the early trade. Weak global cues especially from the Asian markets and later from the European markets kept the mood negative among the investors. Both the Sensex and Nifty are trading with losses of 0.56% and 0.58% respectively.

Other Asian markets too have extended their early losses and are trading in the red zone. European concerns over the second bailout package have unnerved investors as the officials were looking to delay the second bailout plan to follow the elections in April 2012.

The European markets opened on a negative note on the back of the delay in the second bailout plan.

Back home, among the BSE sectoral indices, Power, Realty and CG are leading with gains of 1.47%, 1.22% and 0.79% respectively. Among the losers Metals, Oil & Gas, CD, Bankex and Auto are down between 0.9%-1.48%. Other indices are marginally up between 0%-0.32%.

Among the Sensex shares, Jindal Steel, BHEL and Maruti Suzuki are leading with gains of 4.30% 2.60% and 3.02% respectively. Bharti Airtel, Cipla, DLF, Hero MotoCorp and Jindal Steel are trading with gains between 1%-1.5%. In the losers, Coal India, Hindalco, Sterlite, Sun Pharma and Tata Motors are all down by 2%-3.7%.

The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1410 shares rose, 1341 shares fell and 121 shares remained unchanged.