Indian benchmark indices continued to extend losses during the noon trading session picking up weak global cues spilling over from last week.
In the latest development happening in Europe, UBS has agreed to buy Credit Suisse for more than USD 3 billion while The US Federal Reserve and several other major central banks announced a coordinated effort on Sunday night to boost the flow of US dollars through the global financial system with the aim of keeping credit flowing to households and businesses. Investors keeping an eye on these will eventually be positive developments for the global markets.
At 12:40 hours, the 30-share benchmark index was trading at 57259.54 down by -730.36 points or by -1.26 % and then NSE Nifty was at 16858.45 down by -241.6 points or by -1.41 %.
Sensex touched intraday high of 57829.23 and intraday low of 57132.76 The NSE Nifty touched intraday high of 17066.6 and intraday low of 16850.15
The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 2449.20,+0.03%), Kotak Mahindra Bank Ltd. (Rs. 1691.45,+0.01%), among others.
The top losers of the BSE Sensex pack were Bajaj Finserv Ltd. (Rs. 1240.50,-4.65%), Bajaj Finance Ltd. (Rs. 5557.45,-3.06%), Tata Motors Ltd. (Rs. 407.70,-2.69%), Mahindra & Mahindra Ltd. (Rs. 1097.20,-2.59%), Wipro Ltd. (Rs. 367.60,-2.35%), among others.
HCS index was at 21455.54 up by -79.93 points or by -0.37%. Caplin Point Laboratories Ltd. (Rs. 648.75,+6.24%), Aarti Drugs Ltd. (Rs. 332.30,+4.84%), Lincoln Pharmaceuticals Ltd. (Rs. 343.70,+4.14%), SMS Pharmaceuticals Ltd. (Rs. 67.22,+4.04%), Lasa Supergenerics Ltd. (Rs. 22.85,+3.63%),.
Metal index was at 19001.96 down by -507.17 points or by -2.6%. National Aluminium Company Ltd. (Rs. 79.24,-4.85%), Jindal Steel & Power Ltd. (Rs. 552.10,-3.51%), Hindalco Industries Ltd. (Rs. 383.50,-3.34%), Steel Authority of India (SAIL) Ltd. (Rs. 85.85,-3.09%), Vedanta Ltd. (Rs. 276.85,-2.67%)
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3784 , shares advanced were 994 while 2641 shares declined and 149 were unchanged.