Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Metal, realty stocks lead losers
Tue, 11 Jun 01:30 pm

Backed by persistent selling activity Indian equity markets continued to trade in red during the post noon trading session. Barring stocks from IT sector, all the sectoral indices are trading in red with Metal and Realty stock leading the pack of losers.

BSE-Sensex is down by 289 points and NSE-Nifty is trading down by 88 points. While BSE Mid Cap is trading down by 1.80%, BSE Small Cap index is trading up by 1.93%. The rupee is trading at 58.89 to the US dollar.

Majority of the automobile stocks are trading in the red with Ashok Leyland and Force Motors being the biggest losers. Bajaj Auto and Hero MotoCorp are among the few stocks trading positive. As per data from Society of Indian Automobile Manufacturers (SIAM), domestic passenger car sales fell for the seventh straight month in May. The off take recorded a 12.3% decline to 1,43,216 units. According to SIAM, this is the longest period of consecutive decline in car sales considering even the 2008-09 downturn. The Association has added that economic slowdown, high inflation and interest rates, low consumer sentiments and job insecurity are the factors affecting the demand for cars. During the month, Maruti Suzuki clocked an 8.3% decline in domestic car sales at 66,342 units whereas car sales of Tata Motors nosedived by 48.6% to 8,827 units. However, Hyundai Motors saw a marginal 0.35% rise car sales to 32,052 units for the month. Barring utility vehicles and scooters, all the automobile segments have posted declines in May.

Private banking stocks are trading in red, with Yes bank and Indusind bank are leading among the pack of losers. As per the financial daily, the Reserve bank of India (RBI) has imposed penalty on Axis bank, HDFC bank and ICICI BANK for violating guideline related to KYC (Know your customer) rules. RBI has imposed fine of Rs 50 m on Axis bank, Rs 45 m on HDFC bank and Rs 10 m on ICICI bank. All the three stocks are trading lower.

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

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Metal, realty stocks lead losers". Click here!