Markets Extend Losses, JSPL Down 4.5%

The Indian markets continued their falling momentum, extending their losses. The Sensex is trading lower by over 100 points and Nifty is down by 40 points. All the sectoral indices are trading lower except for FMCG, which is up by 0.57%. The Metals index is among the worst performers, trading down by more than 2.1%. Capital Goods, Bankex and Power have also lost over 1% each.

The other Asian markets are also trading in negatives. Shanghai is lower by 0.29%, while Hang Seng and Nikkei are down by 1.16% and 1.1% respectively.

The European markets have opened in mixed trades, with CAC and DAX higher by 0.21% and 0.31% respectively. FSTE, though, has opened its trades with marginal losses. Bloomberg reports said that the European stocks saw little change as investors are awaiting tomorrow’s ECB meeting.

Back home, the Metals stocks are leading the losers list, with Jindal Steel trading down by 4.49% at Rs 337 per share and Tata Steel and Sterlite Industries also lower by 2.89% and 2.6% respectively. Capital Goods majors like L&T and BHEL have also lost 2.03% and 4.13% respectively. Index heavyweights like RIL and SBI are trading 1.37% and 1.67% down respectively. Other stocks like Tata Motors, Coal India, TCS, ONGC, M&M, Infosys, etc. are also taking the markets southwards.

There is a short list of six index stocks that are currently in positives. Bharti Airtel is the leading gainer, up 3.12% at Rs 257.45. FMCG bigwigs HUL and ITC have also gained 1.4% and 0.41% respectively. Other stocks like HDFC, Hero MotoCorp and HDFC Bank are also trading in the green zone.

The market breadth is currently weak. On the BSE, 1366 shares have declined, 1137 shares have advanced and 129 shares are unchanged.