Today : Wednesday - Aug 20, 2014, 08:07pm (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Education
Travel
Lifestyle
Gulf News
Featured
 
::| Latest News
News in Pictures

Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News
 

Choppy trading at Indian equities after outlook downgrade

Thursday - Apr 26, 2012, 01:23pm (GMT+5.5)
[+] Text [-]

Mumbai -  Indian equities market was witnessing choppy trading Thursday, a day after ratings agency Standard & Poor's lowered its outlook to negative from stable on India's long-term sovereign ratings and also on major firms.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in positive at 17,191.02 points, was ruling at 17,132.04 points in the afternoon session, down 0.11 percent or 19.25 points from its previous close at 17,151.29 points.

There was no major movement in the market. The benchmark Sensex was trading within 100 points range. It touched a high of 17,193.25 points and low of 17,101.73 points in the intra-day.

The broad-based 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.21 percent down at 5,191.00 points.

Standard & Poor's Wednesday lowered its outlook on India to negative from stable, and warned of a ratings downgrade citing deteriorating economic indicators and slow progress on fiscal reforms in the backdrop of a "weakened political setting".

The ratings agency also lowered its outlook to “negative” on 11 banks, four financial institutions, three IT companies and three public sector undertakings.

Gains in IT, telecom and metal stocks offset losses in auto, realty and power segments.

The BSE IT index was ruling 0.55 percent higher. Metal index was up 0.45 percent while auto index was down 0.71 percent and realty index was down 0.61 percent.

Major Sensex losers included Gail India, down 3.21 percent at Rs.325.80; Hero MotoCorp, down 2.66 percent at Rs.2,178; Bajaj Auto, down 2.09 percent at Rs.1,619.60 and DLF, down 1.99 percent at Rs.182.05.

Ten of the 30 Sensex scrips were trading in the positive.

Prominent gainers included: Jindal Steel, up 2.76 percent at Rs.492.00; TCS, up 1.13 percent at Rs.1,185.50; Tata Steel, up 0.90 percent at Rs.470.10; and Infosys, up 0.75 percent at Rs.2,366.40.





|

Rating (Votes: )   

blog comments powered by Disqus

Other Articles:
Chinese automaker to develop electric car with US partner (26th Apr, 2012)
Chinese automaker to develop electric car with US partner (26th Apr, 2012)
Hyundai Motor posts $2 bn operating profit in Q1 (26th Apr, 2012)
India sparks solar energy market: Report (26th Apr, 2012)
Asia's first Legoland to open in Malaysia (26th Apr, 2012)
South Korea's GDP grew 0.9 percent in Q1 (26th Apr, 2012)
Huge Indian investments create jobs in US: Survey (26th Apr, 2012)
Myanmar gas export revenue up (26th Apr, 2012)
China probes preserved fruit additives (26th Apr, 2012)
Food prices rise on costlier oil: World Bank (26th Apr, 2012)
Wall Street gains on Apple, Fed's economic outlook (26th Apr, 2012)
US Fed hints at new steps to boost recovery (26th Apr, 2012)
BSNL borrowed Rs.1,320.47 crore for capital expenditure (26th Apr, 2012)
S&P lowers outlook on SBI, ICICI and HDFC Bank (26th Apr, 2012)
S&P lowers outlook for Infosys, TCS, Wipro to negative (26th Apr, 2012)
Ratings downgrade was inevitable: Wipro (25th Apr, 2012)
What do ratings, outlook downgrades mean? (25th Apr, 2012)
Over 130 government Web sites hacked during January-March 2012 (25th Apr, 2012)
China to invest 4 trillion Yuan in water resources by 2020 (25th Apr, 2012)
No reason to panic over S&P forecast: Pranab Mukherjee (25th Apr, 2012)
Sony expects to earn 10 percent of global business from India (25th Apr, 2012)
Sensex ends 56 points down ahead of F&O expiry (25th Apr, 2012)
Sony to roll out four new DSLR cameras (25th Apr, 2012)
Delhi to get patents centre for small and medium units (25th Apr, 2012)
With reforms under stress, India stares at ratings cut (25th Apr, 2012)




Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use