Nifty hovers around 7600; ICICI, Axis Bank, Adani Ports
losers Infosys, ICICI Bank, Axis Bank and Adani Ports were biggest losers on
Sensex, down 1-2 percent while Tata Motors, Tata Steel, Hindalco Industries and
Bharti Airtel gained 1-6 percent. Deep research and strong predictions made by
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Investors will parse January-March earnings reports for clues
on corporate growth, with analysts already cutting projections for the quarter,
due to a surge in bad loans for Indian banks, oil price slump and weak global
demand. A weak quarter could hit sentiment further after the Reserve Bank of
India failed to impress markets on Tuesday by cutting interest rates by 25
basis points, as some had hoped the central bank would act more boldly.
The equity market continued to be in tight range as after RBI policy, investors are waiting for fourth quarter earnings season that will kicked off next week. The 30-share BSE Sensex fell 23.79 points to 24859.80 and the 50-share NSE Nifty declined 1.80 points to 7601.40 while the market breadth remained strong as about 1440 shares advanced against 943 declining shares on Bombay Stock Exchange.
Infosys, ICICI Bank, Axis Bank and Adani Ports were biggest losers on Sensex, down 1-2 percent while Tata Motors, Tata Steel, Hindalco Industries and Bharti Airtel gained 1-6 percent. India's stock markets were little changed on Wednesday, after posting their worst fall in nearly two months in the previous session, while broader sentiment remained cautious as companies gear up to report their quarterly earnings.
The equity market continued to be in tight range as after RBI policy, investors are waiting for fourth quarter earnings season that will kicked off next week. The 30-share BSE Sensex fell 23.79 points to 24859.80 and the 50-share NSE Nifty declined 1.80 points to 7601.40 while the market breadth remained strong as about 1440 shares advanced against 943 declining shares on Bombay Stock Exchange.
Infosys, ICICI Bank, Axis Bank and Adani Ports were biggest losers on Sensex, down 1-2 percent while Tata Motors, Tata Steel, Hindalco Industries and Bharti Airtel gained 1-6 percent. India's stock markets were little changed on Wednesday, after posting their worst fall in nearly two months in the previous session, while broader sentiment remained cautious as companies gear up to report their quarterly earnings.
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