Markets remain subdued

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

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
Business Standard
177 22
Business Standard

Markets remain subdued

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

SI Reporter  |  Mumbai 



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.

RECOMMENDED FOR YOU

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.

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
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

STOCK WATCH

Company Price() Chg(%)
Biocon 808.70 15.28
Motil.Oswal.Fin. 483.85 15.24
JM Financial 63.85 12.61
Bharat Financial 844.90 10.58
Force Motors 3220.15 7.47
> More on BSE Gainers
Company Price() Chg(%)
Biocon 809.70 15.57
Motil.Oswal.Fin. 484.90 15.37
JM Financial 63.75 12.43
Bharat Financial 843.60 10.46
Cairn India 191.90 8.51
> More on NSE Gainers
Company Price() Chg(%)
G N F C 158.35 -7.53
Raymond 457.65 -6.60
Canara Bank 240.90 -4.21
Atul 2092.45 -3.70
Hatsun AgroProd. 332.95 -3.38
> More on BSE Gainers
Company Price() Chg(%)
Raymond 458.45 -6.28
Canara Bank 241.30 -3.79
Atul 2093.10 -3.57
Union Bank (I) 126.45 -3.44
Minda Corp 118.65 -3.02
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard