At 1:15 p.m., the Sensex
was at 17,027.97, down 102.70 points, or 0.60 percent. It has touched a
high of 17,242.15 and a low of 17,024.70 in trade so far.
The Nifty was at 5,172.15, down 16.85 points, or 0.32 percent. It has touched a high of 5,223.05 and a low of 5,154.30 in trade so far.
"Momentum indicators, although in a sell mode, are not convinced about a clear direction due to the sideways trajectory. Today's session is likely to be important to determine the outlook for the short term as the bulls will have to make a comeback with a strong close above 5,255 (middle bollinger), whereas the bears are eyeing a breakdown below 5,148 (lower bollinger) and 5,130 (200 DMA) to take the market in their favour," an Edelweiss report said.
The BSE Midcap Index was down 0.48 percent and the Smallcap Index slipped 0.55 percent.
Among sectoral indices, the BSE Realty Index was down 2.46 percent, the BSE Metal Index declined 1.20 percent, the BSE Capital Goods Index slipped 1.09 percent and the BSE Bankex was 0.88 percent lower. The BSE IT Index was up 0.36 percent.
DLF (3.22%), Coal India (2.42%), State Bank of India (2.19%), Tata Steel (1.84%) and Bharti Airtel (1.49%) are the major Sensex losers.
ICICI Bank (2.01%), M&M (0.73%), Hindalco Industries (0.56%), TCS (0.46%) and Infosys Technologies (0.43%) are the top gainers.
ICICI Bank announced a net profit of Rs 1,902 crore for the quarter ended March 2012 compared to a net profit of Rs 1,452 crore in the same period a year ago, as reported. Net interest income increased to Rs 3,100 crore for the quarter against Rs 2,509.7 crore in the same quarter last fiscal.
Axis Bank will announce its quarterly results today.
"We expect Axis Bank to report a healthy NII growth of 32.4% YoY to Rs 2,252 crore. NIM, on a sequential basis, is likely to remain flat with a downward bias. Non-interest income is expected to increase by relatively moderate 9.4% YoY to Rs 1,586 crore," an Angel Broking report stated.
The market breadth was negative on the BSE with 1,053 gainers against 1,535 losers.
European markets are down on profit booking. The FTSE 100 declined 0.54 percent, the CAC 40 slipped 0.57 percent, and the DAX fell 1.03 percent.
Source : Economics Times
The Nifty was at 5,172.15, down 16.85 points, or 0.32 percent. It has touched a high of 5,223.05 and a low of 5,154.30 in trade so far.
"Momentum indicators, although in a sell mode, are not convinced about a clear direction due to the sideways trajectory. Today's session is likely to be important to determine the outlook for the short term as the bulls will have to make a comeback with a strong close above 5,255 (middle bollinger), whereas the bears are eyeing a breakdown below 5,148 (lower bollinger) and 5,130 (200 DMA) to take the market in their favour," an Edelweiss report said.
The BSE Midcap Index was down 0.48 percent and the Smallcap Index slipped 0.55 percent.
Among sectoral indices, the BSE Realty Index was down 2.46 percent, the BSE Metal Index declined 1.20 percent, the BSE Capital Goods Index slipped 1.09 percent and the BSE Bankex was 0.88 percent lower. The BSE IT Index was up 0.36 percent.
DLF (3.22%), Coal India (2.42%), State Bank of India (2.19%), Tata Steel (1.84%) and Bharti Airtel (1.49%) are the major Sensex losers.
ICICI Bank (2.01%), M&M (0.73%), Hindalco Industries (0.56%), TCS (0.46%) and Infosys Technologies (0.43%) are the top gainers.
ICICI Bank announced a net profit of Rs 1,902 crore for the quarter ended March 2012 compared to a net profit of Rs 1,452 crore in the same period a year ago, as reported. Net interest income increased to Rs 3,100 crore for the quarter against Rs 2,509.7 crore in the same quarter last fiscal.
Axis Bank will announce its quarterly results today.
"We expect Axis Bank to report a healthy NII growth of 32.4% YoY to Rs 2,252 crore. NIM, on a sequential basis, is likely to remain flat with a downward bias. Non-interest income is expected to increase by relatively moderate 9.4% YoY to Rs 1,586 crore," an Angel Broking report stated.
The market breadth was negative on the BSE with 1,053 gainers against 1,535 losers.
European markets are down on profit booking. The FTSE 100 declined 0.54 percent, the CAC 40 slipped 0.57 percent, and the DAX fell 1.03 percent.
Source : Economics Times
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