Sensex below 18k level

The BSE Sensex dipped below the 18,000-points mark after two months at mid-session on Monday, due to brisk selling by funds in heavy-weight stocks, led by banking and metal sectors.

The Bombay Stock Exchange benchmark Sensex, which opened in a negative zone, rolled down further by 353.43 points to 17,972.66 at 1330 hours, a level last seen on March 22.

Selling pressure gathered momentum, on concerns over inflation and rising interest rates, amid worsening signs of the Europe's debt crisis. The banking sector index suffered the most by 2.81 percent to 11,817.30, while metal index dropped by 2.60 percent to 14,728.54.

Sensex down 300 Points

Weak global cues and rally in dollar dragged the Sensex below 18000 levels. Earning woes were kicked off by engineering heavyweight BHEL for this week. Concerns over Greece debt was weighing heavily on the global markets. Dollar index has now crossed important resistance level of 76.

At 14.36 , the Sensex down 323.91 points or 1.77% at 18002.18, and the Nifty was down 102.60 points or 1.87% at 5383.75. About 732 shares advanced, 1980 shares declined, and 930 shares remain unchanged.

GAIL India and Bajaj Electricals announced its fourth quarter results

GAIL India has announced its fourth quarter results. The company's Q4 net profit was down 14% at Rs 783 crore versus Rs 911 crore, year-on-year, YoY. Its net sales were up 36% at Rs 8,894 crore versus Rs 6,522 crore, YoY.

Bajaj Electricals has announced its fourth quarter results. The company's Q4 net profit was up 53% at Rs 57.5 crore versus Rs 37.5 crore, year-on-year(YoY). Its net sales were up 25% at Rs 979.4 crore versus Rs 784 crore, YoY.

Ambani’s gambit this time?

Mukesh Ambani is a grand master in strategy. So when something happens at flagship Reliance Industries Ltd (RIL), it’s time to sit up and take notice. It is also a good time to ask: what’s his gambit this time?

In recent weeks, RIL has done its best to confuse everyone about what is really going on at its Krishna-Godavari (KG-D6) offshore gasfield. Is it a gusher, or it is about to go phut for a while, with output declining in the short-term, due to “technical problems”? Read Full story Ambani’s gambit this time?

* Source from Moneycontrol

Mahindra Satyam disappoint the market

The index Nifty slumped in red on global concerns pertaining to Greece debt woes. Mahindra Satyam disappoints street in terms of bottomline and continues to bleed in red. Rate sensitives like banks and auto were major laggards in trade today. Fall in commodity prices was reflected in metal stocks today. The broader markets too were reeling under losses.

At 10.41 hrs IST, the Sensex was down 158.31 points or 0.86% at 18167.78, and the Nifty was down 52.05 points or 0.95% at 5434.30. About 859 shares advanced, 1360 shares declined, and 1423 shares remain unchanged.