Indian Share Market Trend - Infosys, ONGC and SBI under Pressure

Indian Share Market Trend today : The NSE Nifty 50-share continued to trade below the 5700 level, which has been its resistance since the start of this week, weighed down by banking and financial, capital goods, technology and power stocks.

The 50-share NSE not bad continuing to trade below the 5700 level, that has been its resistance since the beginning of in the week, weighed down by banking and money, capital product, technology and power stocks. The rupee, that went on the subject of fifty one against the United States greenback last week, slippery  towards the fifty three level again; it absolutely was down by twenty four paise to fifty two.96 a greenback.

The mad cow disease benchmark fell 103 points to eighteen,690.40 and therefore the NSE benchmark went down thirty one points to five,673.75. The broader markets too were down zero.5 p.c as declining shares outnumbered declining by a magnitude relation of 1172 to 870 on the mad cow disease.

Amit Gupta of ICICI Direct expects the market to ascertain some consolidation currently. the best place base is made at five,600 , therefore it's unlikely for not bad to breach this level. However, he suggests shopping for if not bad starts inching nearer to five,600 levels.

Country's largest lenders banking concern of India, ICICI Bank and HDFC Bank born zero.8-1.3 percent.

Software services businessperson Infosys lost one.5 p.c earlier than its results for the quarter over September 2012 that regular to be proclaimed on Friday. Its rivals TCS and Wipro were down zero.3 p.c and one p.c, severally.

Engineering conglomerate Larsen & Toubro was down zero.9 p.c whereas its rival state-run BHEL tumbled one.4 percent.

Power producers NTPC and Tata Power fell one p.c every. Housing nondepository financial institution HDFC and medium operator Bharti Airtel declined zero.5 p.c every.

Utility vehicle maker Mahindra & Mahindra and state-owned oil & gas producer ONGC were down one.25 p.c every.

World's sixth largest steel manufacturer Tata Steel and drug producer Cipla gained one p.c. Index heavyweights Reliance Industries and ITC were up zero.2 percent.

Source : moneycontrol