Markets, which were cautious ahead of the rate announcement
by RBI, dropped sharply when the announcement first came.
They soon recovered on realisation that only the repo
rate has been hiked and the more important reverse-repo
rate has been left unchanged. But the indices have started
drifting downwards as telecom stocks are seeing some profit
is trading lower by 26 points at 12998 at 01.10 PM.
is now trading lower by 15 points at 3754.
stocks have come under pressure. MTNL is the worst performer
among index stocks, trading more than 3.5 per cent lower.
Communications and VSNL are down around 2.5 per cent each
while Bharti has lost more than 1.5 per cent.
Tech has slipped further and is down more than 2.5 per
cent. Wipro has lost nearly 1.5 per cent
India continues to trade nearly 2.5 per cent lower
Auto remains weak by nearly 1.5 per cent
other losers, SAIL and HDFC Bank have lost around 1.5
per cent each.
Mills has slumped nearly 6 per cent after disappointing
results. Colgate has also lost ground after results announcement.
continues to trade firm and is the best performer among
index stocks with gains of more than 2.5 per cent
is holding on to gains of nearly 1.5 per cent
crude oil prices have helped Jet Airways to stage a recovery
and have gained nearly 2.5 per cent
has gained further and is trading nearly 2.5 per cent.
Power is holding on to gains of over 2 per cent.
Tele and Satyam are the other major gainers
results have pushed HLL to gains of well over a per cent.
ITC is trading more than 1.5 per cent higher while Dabur
is trading well over a per cent higher.
and small caps have also lost further ground in afternoon
trades. The NSE mid-cap index is now trading with losses
of over 0.25 per cent. BSE mid-cap index is also down
0.25 per cent and the small-cap index has lost more than
0.6 per cent each. Market breadth on the NSE remains negative.
Industries is locked in 20 per cent upper circuit. GTN
Textiles has gained 11.5 per cent.
Aviation has rallied more than 10 per cent after the recent
Hotels, Prakash Limited and Indian Hume are locked in
the 10 per cent upper circuits.
Auto Finance, Sangam India, Salora International and SPL
are among the major mid-cap gainers.
Industries, SPL Industries, Godrej Consumer Products,
Celebrity Fashions, Balrampur Chini, Nocil and JBM Auto
are the major mid-cap losers.