X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Indian share markets widen losses 
(Wed, 13 Mar 01:30 pm) 
 
With persistent selling in index heavyweights, Indian share markets slipped deeper into the red in the post-noon trading session. Majority of the sectoral indices are trading weak with consumer durables, auto and IT stocks being the biggest losers. Only FMCG and realty stocks are trading in the green.

BSE-Sensex is down 107 points and NSE-Nifty is trading down 36 points. While BSE Small Cap is down 0.7%, BSE Small Cap index is trading down by 0.9%. The rupee is trading at 54.1 to the US dollar.

Most of the banking stocks are trading in the red, with Federal Bank and ICICI Bank being among the leading losers. Only City Union bank, SBI and United Bank of India are trading in the green. As per Reserve Bank of India (RBI), intake of bank credit by industry is showing signs of slowdown. For the month of January, bank credit to the industry grew by a sluggish 15.2% as compared to a growth of 20.2% registered in the corresponding month in the previous year. The saving grace has been that bank credit offtake to sectors such as chemicals, coal products & nuclear fuels, wood and leather grew faster than the corresponding month last year. The overall non-food credit in January 2013 grew by 14.6%, slower than 15.9% growth in the corresponding month last year. Even credit to the services sector slowed down to 12% from 15.1% rise in January 2012. But the bank's credit to the agriculture sector in January 2013 accelerated to 19.8% from 6.3% in January 2012.

Most of the textile stocks are trading in the red with Welspun Industries and Alok India being among the leading losers. As per a leading financial daily, one of the India's leading textile companies Raymond has resumed its operations at its plant in Valsad district of Gujarat. This plant was closed some time back due to notice given by Gujarat Pollution Control Board (GCPB). The closure notice was served on the plant after one of its sewage discharge pipelines was broken and was releasing waste water in the open. Also, the power connection to the plant was disconnected. The stock of Raymond is trading down by 1.8%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian share markets widen losses". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 24, 2017 03:37 PM

MARKET STATS