Business Standard

Markets remain subdued

Capital Goods major BHEL is the top Sensex loser, down over 2%

Related News

Markets continue to maintain the subdued trend tracking weak global cues and selling pressure among Metal, Banks and Capital Goods segments.

By 10:30 hrs, the was down 52 points at 17,388 and the 50-share slashed down 22 points at 5,252.

From the Metal space, Tata Steel, Sterlite and JSPL have slipped by almost 2% each.

Capital Goods major BHEL is the top Sensex loser, down over 2%. L&T has slipped by over 1%.

Other notable include Sun Pharma, NTPC, Tata Power, Wipro, SBI, Cipla and Maruti Suzuki.

Among other shares, Morgan Stanley downgraded Axis Bank to "underweight" from "equal weight" and cut its target price on the stock to Rs 800 from Rs 900, citing rising impairments. The investment bank expects the impaired loan formation of Axis Bank to rise to 4% of total loans in FY14. Axis Bank shares has fallen 2.7% to Rs 951.51.

Torrent Power is trading up 2.5% at Rs 161 extending its previous day’s 7% rally after its promoter hiked their stake in the company by around 1% through open market transaction.

Castrol India is trading lower by over 3% at Rs 275, extending its Tuesday’s 3.2% fall after the stock turned ex-bonus yesterday.

The broader indices are outperforming the benchmark indices – BSE Midcap and Smallcap indices are marginally up. The market breadth in BSE remains healthy with 1,275 shares advancing and 757 shares declining.

Read more on:   
|
|
|
|

Markets remain subdued

Capital Goods major BHEL is the top Sensex loser, down over 2%

Markets continue to maintain the subdued trend tracking weak global cues and selling pressure among Metal, Banks and Capital Goods segments.

Markets continue to maintain the subdued trend tracking weak global cues and selling pressure among Metal, Banks and Capital Goods segments.

By 10:30 hrs, the was down 52 points at 17,388 and the 50-share slashed down 22 points at 5,252.

From the Metal space, Tata Steel, Sterlite and JSPL have slipped by almost 2% each.

Capital Goods major BHEL is the top Sensex loser, down over 2%. L&T has slipped by over 1%.

Other notable include Sun Pharma, NTPC, Tata Power, Wipro, SBI, Cipla and Maruti Suzuki.

Among other shares, Morgan Stanley downgraded Axis Bank to "underweight" from "equal weight" and cut its target price on the stock to Rs 800 from Rs 900, citing rising impairments. The investment bank expects the impaired loan formation of Axis Bank to rise to 4% of total loans in FY14. Axis Bank shares has fallen 2.7% to Rs 951.51.

Torrent Power is trading up 2.5% at Rs 161 extending its previous day’s 7% rally after its promoter hiked their stake in the company by around 1% through open market transaction.

Castrol India is trading lower by over 3% at Rs 275, extending its Tuesday’s 3.2% fall after the stock turned ex-bonus yesterday.

The broader indices are outperforming the benchmark indices – BSE Midcap and Smallcap indices are marginally up. The market breadth in BSE remains healthy with 1,275 shares advancing and 757 shares declining.

image

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

Recommended for you

Quick Links

Market News

Nickel rises by 0.1% on Asian cues

Traders strengthened positions amid a firming Asian cues

Oil prices rise further in Asia

Expectations of a decline in US crude inventories and robust economic data from the eurozone helped prices

Markets remain rangebound; HUL up over 2%, Hindalco dips 1%

Investors are optimistic about a possible solution between Greece and its international creditors to avert a debt crisis

Pharma shares in focus; Aurobindo Pharma hits new high

JB Chemicals, Alembic Pharma, Aurobindo Pharma, Ipca Laboratories and Dishman Pharma were up 3%-11% each.

Infinite Computer gains on board approval for share buyback proposal

The stock spurted 5% at Rs 171 after the board approved the buyback of shares at a maximum price of Rs 220 per share from the open market ...

 

Back to Top