Nifty Trading below 4500 on the Opening Trade
The markets have opened on a weak note and crashed heavily following negative global cues as Crude has touched a new all-time high of USD 139.12 a barrel. Selling has seen in capital goods, power, realty, cement and metal stocks. All BSE indices are in the red.
At 9:55 am, the Sensex was down 513 points at 15058 and the Nifty down 139 points at 4488.
Amongst frontliners, major losers were L&T, SAIL, Unitech, Rel Petro, Siemens, Ambuja Cem, Nalco, Tata Power, BPCL, Reliance Infra, DLF, Tata Motors
Cairn was the only stock, which was up over 5% as Crude is trading at USD 137.37 per barrel.
DLF has continued its downtrend, hit a new low today. The stock had slipped below its issue price on Friday.
Asian markets were trading weak. Japan’s Nikkei tumbled 2.06% or 298.56 points at 14,190.88. Taiwan’s Taiwan Weighted fell 2.10% or 183.84 points at 8,561.51. Singapore’s Straits Times slipped 2.17% or 68.22 points at 3,078.51. South Korea’s Seoul Composite lost 1.73% or 31.66 points at 1,800.65.