Market plunges 200 points in opening

The markets opened weak on Friday due to weak Asian markets. This was on the back of Bank of Japan (BoJ) move to up interest rates by 0.25 per cent and end the zero-rate policy. The Sensex plunged over 200 points trading at 10,655, in the opening trade and Nifty was 52 points down at 3,116. Nikkei was down almost 200 points down at 1.5 per cent.

The gobal cues are negative. U S stocks plunged for a second straight session yesterday. The Dow Jones slid 166.89 points, or 1.52%, to 10,846.29. Asian markets were trading lower as Bank of Japan is widely expected to raise interest rates. Japan's Nikkei share average lost 216.99 points or 1.44% at 14,880.96.

Mid and small-cap indices were down nearly 1 per cent. ONGC was a big stock that traded up at 1.34 per cent. Rest of the Sensex pack stocks were in the red in the morning trade. Top losers were Dr Reddy's, Hindalco, Grasim, Tata Motors and Maruti.

The technology stocks were very soft down almost 1.34 per cent. Infosys was down 1.56 per cent, Satyam Computers down 2 per cent , Wipro down 2.36 per cent and TCS traded 1.11 per cent.

A total of 180 stocks advanced while 601 declined, so the market breadth was negative.