BSE Midcap and BSE Smallcap slipped 1.13 % and 0.94 %, respectively.
A 26 % drop in YES Bank stock on account of maiden quarterly loss and double-downgrade by Macquarie Capital Securities single-handedly knocked over 100 pts off Sensex Today. Losses in IndusInd Bank, RIL, Maruti, and SBI added to Sensex's decline.
Asian shares too remained subdued, despite another record high close for the S&P 500, as investors await a US Federal Reserve policy decision for clues of whether it will continue to take a “patient” approach to interest rate policy, Sources reported.
D-Street would Focused on stocks such as TVS Motor, Exide Industries NSE -0.49 Percent, Can Fin Homes, Kotak Mahindra Bank, Ambuja Cements NSE -2.01 percent, Godrej Properties, Gruh Finance, Indian Hotels, Monsanto NSE -0.21 percent India, Raymond and Zensar TechnologiesNSE 0.37 percent which are among a few companies reporting their March quarter earnings today.
At around 9.35 am the 30-pack index was down 148 points or 0.38 % at 38,918.40 while its NSE counterpart Nifty was at 11,703, down 51 pts or 0.44 %.
"In the current week, major move on either side is unlikely. However, within the band of 11,550-11,850 it may behave in a volatile manner; thereby continuing its consolidation phase," YES securities said in a note.
Among Nifty stocks, 22 Up words while 28 down words.
Meanwhile, in the Sensex kitty of stocks, 11 stocks gained and 19 declined.
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YES, Bank was the biggest loser, plummeting over 26 % after the private-sector lender on Friday posted a loss of Rs 1,507 crore for the March quarter and foreign brokerage Macquarie double-downgraded the bank following its results. The brokerage has cut the price target for the stock by 40 %.
Top lossers:-
Hero MotoCorp, Maruti Suzuki, IndusInd Bank, Vedanta and Sun Pharma.
Shares of Hero MotoCorp declined over 1 % to Rs 2,563 following a 24.51 % year-on-year fall in profit at Rs 730.32 crore.
Top Gainers:-
Asian Paints, HDFC Bank, HCL Tech and Kotak Mahindra Bank were among the
BSE Midcap slipped 1.13 % and BSE Smallcap 0.94 %, respectively.
On the BSE sectoral barring IT, Teck, FMCG and Oil & Gas all other sectors declined. BSE Realty was the biggest loser, down, 2.36 % led by realty giant DLF.
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