SENSEX DECLINED , HSBC INCREASES WEIGHTAGE FOR EQUITY MARKETS

The Market fell further amid consolidation. The Sensex declined 62.13 points to 28441.17 and the Nifty dropped 21.10 points to 8626.65 led by index heavyweights HDFC, ICICI Bank and Reliance Industries.
The BSE Midcap and Smallcap indices lost 0.5 percent each. The market breadth was weak too. About 743 shares have advanced, 1208 shares declined, and 144 shares are unchanged on the Bombay Stock Exchange.
Shares of NTPC, Cipla, Bharti Airtel, Mahindra & Mahindra, GAIL and Hindalco Industries slipped 1-2.5 percent. Sesa Sterlite dropped over 3 percent. Reliance Industries and ICICI Bank declined nearly a percent. However, HUL and Wipro climbed over a percent. HDFC Bank, TCS, Infosys, Tata Motors, L&T and SBI gained 0.3-0.9 percent.
Top five Sensex gainers were HUL 1.36%, Wipro 1.33%, TCS 0.96%, Tata Motors 0.92% and Dr Reddy's 0.7%, while the major losers were SSLT 3.02%, HDFC 2.44%, NTPC 2.41%, Cipla 1.87% and GAIL 1.78%.
HSBC has raised India equity markets weightage by 4 basis points.
HSBC rates India at “overweight’’. It has cut Greece to “neutral’’ from “overweight’’.
Greece downgrade is driven by extreme liquidity-induced volatility in the market, and lack of visibility on outlook.
Get real time advice for Equity Trading Tips , Stock Cash Premium Tips , Equity Intraday Tips ,Stock Cash Intraday , Stock Trading Tips , NSE Stock Market Tips  and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.