Negative sentiments restricted market below 10K

The Indian benchmark indices are trading in negative on the back of deepening worries about the global economic outlook. Further, the major indices in the Asian markets are also trading in negative territory with the least impact of China’s interest rate cut, which investors thinks, is not sufficient to bring liquidity into the market. The heavy selling pressure has seen across major indices such as, Capital Goods, Consumer Durables and Metal, which are trading down by nearly 2.5%, 2.8% and 2% respectively. The market breadth is negative as 1249 stocks are trading in red while 576 stocks are in green. At 11.30 AM, the BSE Sensex is declined by 146.02 points at 9,782.32 and NSE Nifty by 43 points at 2,996.3. The BSE Mid Cap and BSE Small Cap are trading lower by 37.8 points and 52.17 points at 3,221.98 and 3,682.78respectively. Losers from the BSE Sensex Pack are Jaiprakash associates that dipped by (7.32%) to Rs.81 along with Tata Motors by (5.95%) at Rs.176.90, Satyam Computers by (3.88%) at Rs.156.10, L&T by (3.68%) at Rs.784.70 and Tata Steel by (3.29%) at Rs.217.60. Losers from the NSE Nifty Pack are HCL Technologies down by (6.11%) at Rs.126 along with Tata Motors by (5.91%) at Rs.176.75, Satyam computers by (4.03%) at Rs.155.9, L&T by (3.94%) at Rs.782.85 and Sterlite Ind by (3.92%) at Rs.269.4. BSE Capital Goods is trading lower by (2.51%) or 178.90 points at 6,946.13. The major losers are Usha Martin trading down by (6.95%) at Rs.25.45 along with Jyoti Structure by (4.89%) at Rs.72.90, Crompton Greaves by (4%) at Rs.128.35, L&T by (3.68%) to Rs.784.70, followed by Gammon India by (3.34%) to Rs.73.75. BSE Consumer Durables is trading lower by (2.83%) or 58.14 points at 1999.31. The top losers in the index are Titan Industries down by (3.36%) to Rs.976.30 along with Videocon Industries down by (2.84%) to Rs.126.50, Rajesh Exp by (2.76%) to Rs.26.45, followed by Blue star by (1.61%) at Rs.155.45.