Markets continue to remain under pressure dragged down by rate sensitive shares on the back of dismal macro-economic data. The industrial growth fell to a four-month low of 3.6% in September and the Consumer Price Index-based (CPI) inflation for October rising to 5%- the highest in four months.
The Sensex was at 25,652 levels, down by 218 points while Nifty was at 7,761 levels, down by 68 points.
The top
losers on the Sensex are ITC, Vedanta, Cipla, ONGC, and TCS, all down between
2-3% each.
The top
gainers on the Sensex are Coal India, Tata Steel,Axis Bank , Bajaj Auto, and Bahrti Airtel, all up between
0.4-2% each.
Buzzing:
Shares of Indiabulls Housing Finance slumped 14 percent intraday on Friday after it struck a deal with UK's OakNorth Bank for to acquire a 39.76 percent stake for USD 100 million (about Rs 661 crore). It feels the acquisition will help it chart a roadmap to a deposit-taking franchise However, the move has not gone well with investors raising concerns on the investment. Analysts say that it was an expensive deal.
Shares of Indiabulls Housing Finance slumped 14 percent intraday on Friday after it struck a deal with UK's OakNorth Bank for to acquire a 39.76 percent stake for USD 100 million (about Rs 661 crore). It feels the acquisition will help it chart a roadmap to a deposit-taking franchise However, the move has not gone well with investors raising concerns on the investment. Analysts say that it was an expensive deal.
Broadly support Modi's economic reforms:
IMF The market remained under pressure with the Sensex falling 216.08 points to 25650.87, tracking weak global cues. The Nifty declined 66.35 points or 0.85 percent to 7762.10. The broader markets also lost ground. The BSE Midcap shed 1 percent and Smallcap declined 0.5 percent. The market breadth too was negative as about 1138 shares slipped against 547 advancing shares on the BSE. TCS, Vedanta and Cipla topped selling list on Sensex, down more than 2 percent followed by Infosys, Reliance Industries, HDFC, ITC, ICICI Bank, L&T, HDFC Bank, Tata Motors, SBI, HUL, ONGC and Maruti with 0.5-1.5 percent loss. Coal India gained 1.6 percent ahead of September quarter earnings today. Japan's Nikkei, Hong Kong's Hnag Seng and China's Shanghai Composite have slumped between 1.2-2.5%.
IMF The market remained under pressure with the Sensex falling 216.08 points to 25650.87, tracking weak global cues. The Nifty declined 66.35 points or 0.85 percent to 7762.10. The broader markets also lost ground. The BSE Midcap shed 1 percent and Smallcap declined 0.5 percent. The market breadth too was negative as about 1138 shares slipped against 547 advancing shares on the BSE. TCS, Vedanta and Cipla topped selling list on Sensex, down more than 2 percent followed by Infosys, Reliance Industries, HDFC, ITC, ICICI Bank, L&T, HDFC Bank, Tata Motors, SBI, HUL, ONGC and Maruti with 0.5-1.5 percent loss. Coal India gained 1.6 percent ahead of September quarter earnings today. Japan's Nikkei, Hong Kong's Hnag Seng and China's Shanghai Composite have slumped between 1.2-2.5%.
A slew of launches over the past few months have pushed demand for Bajaj
motorcycles to new recent highs. Bajaj Auto is 0.5% up in a weak market.
Country's
largest mortgage lender, HDFC will issue $ 750 million rupee-denominated bonds,
also known as 'Masala' bonds, to overseas investors to improve financing
prospects for domestic infrastructure projects. However, the stock has
dipped 1.2%
On the
flip side, Coal India, Dr. Reddy’s, Bajaj Auto , Tata Motors and Gail are all
up between 0.1-1.1% each.
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