Tuesday March 26, 11:30 AM
Below 3,500... |
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By Equitymaster.com
The bourses continue to display weakness. The Sensex continues to be below 3,500 levels, backed by sluggishness in technology counters. Banks, commodities and auto are also in the red. Cement and FMCG are lacklustre.
The BSE Sensex is at 3,491 (down 25 points) and the NSE Nifty is at 1,130 (down 8 points). The rupee is trading at Rs 48.76 per US dollar.
The weakness on the NASDAQ is mirrored in Indian software counters. Infosys, Satyam, HCL (HCLL.BO, news) Tech, HCL Infosystems, Wipro (WIPRd.BO, news) , Silverline, Hughes and NIIT are among the key losers. This sector is the largest contributor to the losses this morning. With the Wall Street wary of the Fed hiking interest rates, the Indian tech sector too is jittery.
Telco, Bajaj Auto (BJAT.BO, news) , Escorts (ESCO.BO, news) , LML, M&M, TVS and Punjab Tractors are the key losers among auto counters. Banks, especially private banks have also declined. Commodities like Hindalco (HALC.BO, news) , Indo Gulf (IGLF.BO, news) and Tisco are also down. The overall pessimism has affected all sectors. Cement is mixed. Grasim and L&T are in the red, while ACC is marginally up.
Zee is the key gainer today. The stock seems to have gained strength on the back of its new programmes like 'Jeena Isi Ka Naam Hai'. However, the stock has been volatile lately and sentiment could waver in the coming hours.
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