Business Standard

Cautious trades continue

Bank, IT shares decline

Related News

Markets continued to trade on a soft note after erasing early gains. The was up 48 points at 16,754. Nifty is up nine points at 5,073.

Asian markets traded soft with the Nikkei slipping 1% at 8,636. Hang Seng and Shanghai Composite dropped 0.4% each.

bankex continued to reel under pressure after yesterday's RBI credit policy review. The central bank unexpectedly kept both interest rates and the cash reserve ratio unchanged. The index is down 1% at 11,115. IT index is also in red - down 0.7%, followed by consumer durables and metals. However, BSE FMCG and metal indices have shown some strengthy are trading with nearly 1% gains each.

Meanwhile, on Monday Fitch Ratings cut India's sovereign outlook to "negative" from "stable", saying growth potential would "deteriorate".

ITC has gained 2% at Rs 248. Sun Pharma and Cipla, from the pharma pack are up 1.3% each. Tata Steel, ONGC, Hero MotoCorp and Larsen & Toubro are up marginally as well.

On the other hand, Infosys has slipped 1.5% to Rs 2,472. Sterlite has dropped 1.5%. Tata Power and NTPC are down over 1% each. Fitch has lowered the credit rating outlook on NTPC.

Coal India has entered into fuel supply pacts with 27 power units, including Adani's Mundra Power plant in Gujarat. The stock is down 0.6% at Rs 337.

Shares of Reliance Communications has dipped 5% to Rs 61.80, after hitting its lifetime low, on reports that equity research firm Veritas has downgraded the stock to sell with the target price of Rs 15.

Read more on:   
|
|
|

Read More

Markets post best gains in 3-months on Fed optimism

The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE

Quick Links

 

Market News

Nifty hits fresh record high ; Infosys, RIL up 2%

IT, FMCG, Oil and Gas shares among the top gainers

Godrej Properties, Brigade, Mahindra Lifespace to gain from FDI in construction

Analysts perceive this development to be a positive for developers with existing joint development / investment arrangements with foreign ...

BSE's entry into commex business to help revive investor confidence

Company can offer new and quality products learning from the mistakes of other commexes, says Finance Ministry official

Maruti Suzuki hits new high as Q2 profit beats estimates

The stock moved higher by 2% to Rs 3,262, bouncing back nearly 3% from intra-day low of Rs 3,171 on NSE.

Sensex hits fresh highs; TCS, Infosys up more than 2%

The Sensex has hit all time high of 27,359 levels whereas the Nifty is trading above 8,150

Back to Top