Market at day's low

After a quiet opening, the markets continue to spiral down registering an intra day low of 20,736 as market heavy weight RIL pared some of its initial gains. The Nifty too continues to trade in the red, down 23 points at 6,252.

Meanwhile, the broader market space is quite stable. The smallcap index is up 0.8% at 11,243 while the midcap index is constant at 0.1%. In comparison the benchmark index is underperforming at 0.4% in the negative.

On the BSE sectoral indices, Consumer Durables and Metal indices up 1% each continue to lead the sectoral pack. Power gaining 0.2% is the only other index in the green. Realty index extended its losses and is down 1.5% followed by Oil & Gas losing 0.9%.

However, the Asian markets closed mostly in the green as higher oil and metals prices boosted commodity stocks. Hang Seng gained 0.8% while Nikkei added 0.3%. But the Indonesia, South Korean and Taiwan indices fell 0.16% - 0.63%

On the European front, FTSE and DAX is up 0.1% while CAC is down 0.2%

Hindalco up 3.5% followed by Tata Power, Reliance Infrastructure and Mahindra & Mahindra gaining 1% each are the top gainers on the Sensex.

DLF down 4%, ONGC, Bharti Airtel,Cipla and TCS down 2% each are the major losers in the Sensex-30 stocks.

Owing to the broader markets, the breadth continues to be positive. 1628 stocks have advanced while 1317 have declined.