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Apr 27, 2012, 02.15 PM IST
The BSE Sensex and NSE Nifty retained downtrend, even after the European markets recouped early trade losses.
Private sector lender HDFC Bank (which gained 1% in morning trade) erased all gains, losing 0.3%. Top lender State Bank of India dropped further, falling over 2% while ICICI Bank shot up over 3% after its net profit jumped a whopping 31% year-on-year to Rs 1,902 crore and net interest income increased 23.7% to Rs 3,104 crore in the quarter ended March 31, 2012.
Index heavyweights Reliance Industries, Larsen & Toubro, ITC and Bharti Airtel lost nearly 1%. Coal India, largest coal mining company gained over 2%.
However, buying interest in technology stocks was supporting the market quite nicely. Top software services exporters TCS, Infosys and Wipro moved up 0.5-1%.
About two shares declined for every share rising on the National Stock Exchange.
The BSE Sensex continued to trade higher amid volatility due to consistent buying interest in ICICI Bank and Tata Consultancy Services. Larsen & Toubro, BHEL, ITC and HDFC Bank too were supporting the market.
The BSE Sensex and the Nifty gain, snapping two day losses, as banking stocks advance on expectations for good fiscal Q4 earnings.
May 23 2013, 10:43
- in MARKET OUTLOOK
May 23 2013, 09:33
- in Technicals