Markets extend losses, IT stocks slide

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GOLDMAN SACHS DOWN 1.6%, GE DOWN 1.1%, CISCO DOWN 1%, MERCK UP 3.2%
DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q2
DOW JONES FALLS FOR 3RD STRAIGHT DAY TO END LOWER BY 0.1% ON FRIDAY
NASDAQ DOWN 0.5%, S&P 500 INDEX LOWER BY 0.3% AT CLOSE ON FRIDAY
U.S MARKETS ENDED LOWER ON FRIDAY AS TECH STOCKS TOOK THE BIGGEST HIT
FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
GTL FRONTRUNNER IN RACE FOR AIRCEL'S TOWER BIZ: SOURCES
UNDERWEIGHT ON THE TELECOM SPACE; BULLISH ON I.T., BANKING STOCKS
PROMOTERS PLEDGE 1.8% ADDL STAKE; TOTAL PLEDGED SHARES AT 28.28%: NW
RUPEE CLOSES AT 46.62/$ VS 46.68/$ ON NOVEMBER 19
LONG ONLY HEDGE FUNDS LIKELY TO RAISE EQUITY EXPOSURE IN COMING MONTHS
SUGAR MILLS TO PAY FRP, SAP DIFFERENCE
CONSENSUS DECISION OF THE UPA GOVT TO SCRAP CLAUSE 3B FROM THE SUGAR POLICY
PROMOTERS PLEDGE 1.8% ADDL STAKE TOTAL PLEDGED SHARES AT 28.28%: NW

Updated: 05/11/2009 | 01:12 PM IST

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NDTV Correspondent and Agencies

Thursday, November 05, 2009 (Mumbai)

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The markets extended losses in the afternoon trade today on the back of selling pressure in the frontline stocks amid weak global cues. The Sensex was down 304 points at 15,607 and the Nifty fell 1.8 per cent to 4,627.

IT, realty and banking stocks led the decline in the markets. The BSE IT index shed 2 per cent and the realty index was down 1.5 per cent. The BSE bankex slid 1.4 per cent.

Among the Sensex stocks, L&T was the biggest loser. The stock fell 3.8 per cent. DLF, ITC and ACC fell over 3 per cent each.

Bharti Airtel, however, rose 2.1 per cent and RCom was up 1.4 per cent.

Asian stocks markets dropped on Thursday as the US Federal Reserve failed to reassure investors that a lasting recovery in the global economy was taking hold.

South Korea's markets pulled back 1.6 percent to 1,554.87, while Hong Kong's Hang Seng was down 0.9 percent at 21,418.31. Markets in Indonesia, Singapore, Thailand and Australia also slid. Chinese shares, though, bucked the downward trend to gain modestly.