MUMBAI: The Indian stock market was more or less steady a day after the third quarter monetary policy review. In fact, equities opened higher despite mixed cues from Asian markets. But have since eased.
Reserve Bank of India's decision to hold its key rates, citing inflationary concerns, has had a mixed impact on rate sensitive sectors. Banking shares were steady early in the trade and realty shares higher, but automobile stocks were found flagging.
The indices--benchmark and sector--have since retreated further. The BSE Bankex Index was down 0.59 per cent at 11,054.29 and Realty Index weaker by 0.72 per cent at 10,326.11, while the BSE Auto Index down 1.82 per cent at 4,834.21.
In the banking sphere, the losses have been muted, maximum being 2.4 per cent on Bank of Baroda, while others were down in the range of 1.40-0.14 per cent. The second largest public sector, BoB is scheduled to announce its third quarter results today. Other losers comprised Axis Bank (down 1.40%), Kotak Mahindra Bank (1.26%), ICICI Bank (1.17%), Andhra Bank (1.13%), Bank of India and Karnataka Bank (both down 0.85%), Centurion Bank of Punjab (0.78%), Indian Overseas Bank (0.70%), Federal Bank (0.14%).
The Bankex had touched a high of 11,179.98 earlier in the day, while the low so far was 10,981.13.
Among automobile shares, Bajaj Auto led declines, down 3.94 per cent at Rs 2,285. Mahindra & Mahindra was weaker by 2.44 per cent, followed by Maruti Suzuki down 2.32 per cent, while Escorts, Tata Motors and TVS Motors were down nearly 2 per cent. Hero Honda and MRF lower by 1.4-0.90 per cent.
The BSE Auto Index had made a high of 4,944.25 before sliding to 4,816.32 earlier in the day.
In the realty space, barring Mahindra Lifespaces and India Bulls Realty, all others were down 2-1 per cent. Mahindra Lifespaces and Inddia Bulls Realty were down 3.14 per cent each.
The high for the Realty Index was 10,527.89, while the low 10,279.41.
Reserve Bank of India's decision to hold its key rates, citing inflationary concerns, has had a mixed impact on rate sensitive sectors. Banking shares were steady early in the trade and realty shares higher, but automobile stocks were found flagging.
The indices--benchmark and sector--have since retreated further. The BSE Bankex Index was down 0.59 per cent at 11,054.29 and Realty Index weaker by 0.72 per cent at 10,326.11, while the BSE Auto Index down 1.82 per cent at 4,834.21.
In the banking sphere, the losses have been muted, maximum being 2.4 per cent on Bank of Baroda, while others were down in the range of 1.40-0.14 per cent. The second largest public sector, BoB is scheduled to announce its third quarter results today. Other losers comprised Axis Bank (down 1.40%), Kotak Mahindra Bank (1.26%), ICICI Bank (1.17%), Andhra Bank (1.13%), Bank of India and Karnataka Bank (both down 0.85%), Centurion Bank of Punjab (0.78%), Indian Overseas Bank (0.70%), Federal Bank (0.14%).
The Bankex had touched a high of 11,179.98 earlier in the day, while the low so far was 10,981.13.
Among automobile shares, Bajaj Auto led declines, down 3.94 per cent at Rs 2,285. Mahindra & Mahindra was weaker by 2.44 per cent, followed by Maruti Suzuki down 2.32 per cent, while Escorts, Tata Motors and TVS Motors were down nearly 2 per cent. Hero Honda and MRF lower by 1.4-0.90 per cent.
The BSE Auto Index had made a high of 4,944.25 before sliding to 4,816.32 earlier in the day.
In the realty space, barring Mahindra Lifespaces and India Bulls Realty, all others were down 2-1 per cent. Mahindra Lifespaces and Inddia Bulls Realty were down 3.14 per cent each.
The high for the Realty Index was 10,527.89, while the low 10,279.41.
1 comment:
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