After faltering in early deals, benchmark indices
have now trimmed some of the losses on the back of bounce back of stocks
from power counter. However, the overall milieu remains pessimistic in
the background of daunting global set up.
After gaining no specific leads from overnight trade at Wall Street, Asian pacific markets ending two day rally are mostly trading lower. U.S. stocks swung to a slightly higher close Wednesday, boosted by a bounce from some technical levels and late-breaking reports on Yahoo Inc. and Bank of America Corp. However, Nasdaq Composite, weighed by unease over Oracle Corp. (ORCL) earnings that hit the tech sector, ended the day lower. Meanwhile, rattled by the European Central Bank's huge loan to bolster the continent's banks, Asian pacific stocks edged lower. The US future indices were showcasing mixed trend in the screen trade.
Back on the home turf, benchmark equity indices after taking a breather from five day's losing streak edged lower in early deals, however, covering up of some shorts in defensive Fast Moving Consumer Goods (FMCG), Health Care (HC) and Power space, have trimmed some losses of the benchmarks. On the flip side, Stocks from Information Technology (IT), TECk, Metal counters endorsed underlying weakness. The 30 share barometer index on BSE-Sensex-sliding over 100 points was gyrating above 15500 mark. Meanwhile, widely followed 50 shares index- Nifty-declining over 25 points was oscillating above 4600 level. The broader indices too were trading out of shape, with loss of over 0.45% each. The overall market breadth on BSE was in the favour of declines which thumped advances in the ratio of 1099:830, while 86 shares remained unchanged.
The BSE Sensex is currently trading at 15,567.52, down by 117.69 points or 0.75%. The index has touched a high and a low of 15,615.14 and 15,491.80 respectively. There were 9 stocks advancing against 20 declining ones, while 1 share remained unchanged on the index.
The broader indices too were trading in the red; the BSE Mid cap and Small cap indices declined by 0.27% and 0.43% respectively.
The few gaining sectoral indices on the BSE were, FMCG up by 0.78%, HC up by 0.28% and Power up by 0.02%. While, IT down by 2.23%, TECk down by 2.01%, Metal down by 1.36%, CG down by 1.05% and Bankex down by 0.49% were the top losers on the index.
The top gainers on the Sensex were HUL up by 2.01%, NTPC up by 0.94%, Cipla up by 0.74%, HDFC up by 0.39% and DLF up by 0.37%.
On the flip side, Infosys down by 2.61%, Wipro down by 2.36%, Hindalco industries down by 2.15%, L&T down by 1.80% and Bharti Airtel down by 1.77% were the top losers on the Sensex.
Meanwhile, National Bank for Agriculture and Rural Development (NABARD) has set aside Rs 2,000 crore for building warehouses to help facilitate distribution of food grain under the proposed Food Security Act. Under the Rural Infrastructure Development Fund (RIDF), the bank has proposed to provide funds to the tune of Rs 2,000 crore exclusively for construction of scientific godowns across the country in this fiscal.
Further, NABARD is also determined to even finance private entrepreneurs for the first time through banks for the setting up of 'climatic-controlled' godowns under RIDF and is also offering concession of 1.5% in the rate of interest if prompt payment is done by them.
NABARD will provide funds to banks including commercial banks at the rate of 8% instead of 10.5% at present so as to make money available to private entrepreneurs for construction of godowns.
NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.
Most of the Asian equity indices were trading in the red; Shanghai Composite declined 0.44%, Hang Seng slid 0.53%, Nikkei 225 descended 0.71%, Straits Times was down by 0.27%, Seoul Composite surrendered 0.32% and Taiwan Weighted slipped by 0.28%.
On the flip side, Jakarta Composite gained 0.10% remained the lone gainer among the Asian pack.
After gaining no specific leads from overnight trade at Wall Street, Asian pacific markets ending two day rally are mostly trading lower. U.S. stocks swung to a slightly higher close Wednesday, boosted by a bounce from some technical levels and late-breaking reports on Yahoo Inc. and Bank of America Corp. However, Nasdaq Composite, weighed by unease over Oracle Corp. (ORCL) earnings that hit the tech sector, ended the day lower. Meanwhile, rattled by the European Central Bank's huge loan to bolster the continent's banks, Asian pacific stocks edged lower. The US future indices were showcasing mixed trend in the screen trade.
Back on the home turf, benchmark equity indices after taking a breather from five day's losing streak edged lower in early deals, however, covering up of some shorts in defensive Fast Moving Consumer Goods (FMCG), Health Care (HC) and Power space, have trimmed some losses of the benchmarks. On the flip side, Stocks from Information Technology (IT), TECk, Metal counters endorsed underlying weakness. The 30 share barometer index on BSE-Sensex-sliding over 100 points was gyrating above 15500 mark. Meanwhile, widely followed 50 shares index- Nifty-declining over 25 points was oscillating above 4600 level. The broader indices too were trading out of shape, with loss of over 0.45% each. The overall market breadth on BSE was in the favour of declines which thumped advances in the ratio of 1099:830, while 86 shares remained unchanged.
The BSE Sensex is currently trading at 15,567.52, down by 117.69 points or 0.75%. The index has touched a high and a low of 15,615.14 and 15,491.80 respectively. There were 9 stocks advancing against 20 declining ones, while 1 share remained unchanged on the index.
The broader indices too were trading in the red; the BSE Mid cap and Small cap indices declined by 0.27% and 0.43% respectively.
The few gaining sectoral indices on the BSE were, FMCG up by 0.78%, HC up by 0.28% and Power up by 0.02%. While, IT down by 2.23%, TECk down by 2.01%, Metal down by 1.36%, CG down by 1.05% and Bankex down by 0.49% were the top losers on the index.
The top gainers on the Sensex were HUL up by 2.01%, NTPC up by 0.94%, Cipla up by 0.74%, HDFC up by 0.39% and DLF up by 0.37%.
On the flip side, Infosys down by 2.61%, Wipro down by 2.36%, Hindalco industries down by 2.15%, L&T down by 1.80% and Bharti Airtel down by 1.77% were the top losers on the Sensex.
Meanwhile, National Bank for Agriculture and Rural Development (NABARD) has set aside Rs 2,000 crore for building warehouses to help facilitate distribution of food grain under the proposed Food Security Act. Under the Rural Infrastructure Development Fund (RIDF), the bank has proposed to provide funds to the tune of Rs 2,000 crore exclusively for construction of scientific godowns across the country in this fiscal.
Further, NABARD is also determined to even finance private entrepreneurs for the first time through banks for the setting up of 'climatic-controlled' godowns under RIDF and is also offering concession of 1.5% in the rate of interest if prompt payment is done by them.
NABARD will provide funds to banks including commercial banks at the rate of 8% instead of 10.5% at present so as to make money available to private entrepreneurs for construction of godowns.
NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.
The
S&P CNX Nifty is currently trading at 4,663.05, lower by 30.10
points or 0.64%. The index has touched a high and a low of 4,677.20 and
4,634.00 respectively. There were 19 stocks advancing against 30
declining one's, while 1 stock remained unchanged on the index.
The top gainers of the Nifty were HUL up by 2.05%,
Ranbaxy up by 1.52%, Axis Bank up by 1.22%, Gail India up by 1.02% and
Ambuja Cement up by 0.99%. On the flip side, RCom down by 2.95%, Infosys
down by 2.58%, Sesa Goa down by 2.50%, Wipro down by 2.39% and IDFC
down by 2.18% were the major losers on the index. Most of the Asian equity indices were trading in the red; Shanghai Composite declined 0.44%, Hang Seng slid 0.53%, Nikkei 225 descended 0.71%, Straits Times was down by 0.27%, Seoul Composite surrendered 0.32% and Taiwan Weighted slipped by 0.28%.
On the flip side, Jakarta Composite gained 0.10% remained the lone gainer among the Asian pack.
No comments:
Post a Comment