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Key benchmark indices marginally pared some of its earlier losses amid a volailte session while broader markets stayed firm. Gains in PSUs and tech stock was capped by losses in consumer durables and autos.
At 2:15 PM, the 30-share BSE Sensex was down 40 points at 20,853 and the broader 50-share Nifty index was down almsost 7 points at 6,198. While, small-cap and mid-cap indices, at the BSE, were trading up 0.1% and 0.6% respectively.
The rupee continued to trade weak due to month-end dollar demand from importers.The partially convertible INR was trading at 61.68-a-dollar against its previous close of Rs 61.52 per dollar.
European markets are mixed. The FTSE 100 is higher by 0.10%, while the DAX is leading the CAC 40 lower. They are down 0.10% and 0.09% respectively.
BSE Power, PSU, IT, TECk, capital goods, realty, metal and banks were the gainers in sectors while Consumer durables, Auto, oil & gas and healthcare were the losers.
Finance minister while at a meeting with PSU banks chiefs said that the rise in banks' non-performing assets was "unacceptable". He said he expects bad loans to come down after economy picks up .
He said credit growth has been satisfactory, expects same for the rest of the fiscal year.
Chidambaram also said that a decision on extra fund infusion in PSBs (public sector banks) will be take today. Government infusion of Rs 14,000cr in PSU banks will begin today.
Bank Nifty was seen trading higher by 0.3% with Yes Bank, Axis Bank, PNB and Bank of India leading with gains between 1-3%.
Mortgage lender HDFC was the top Sensex loser down 2.1%. The company on Monday reported a 10.27% jump in its standalone post tax profit for the second quarter (Jul-Sep) at Rs 1,266.33 crore. It had posted a net profit of Rs 1,151.12 crore in the corresponding July-September quarter last year.Its net interest income grew 11% to Rs 1,814 crore. The growth was slower because of the dividend from its associate HDFC Bank coming in the first quarter itself, unlike the usual second quarter, its Vice Chairman and Chief Executive Keki Mistry said.
HDFC Bank was down 0.5% on profit taking.
Among the index heavyweights, Reliance Industries was down 0.7% amid profit taking after recent gains post its second quarter earnings. FMCG major ITC was down 1.2%
Other Sensex losers include, Hero MotoCorp, M&M and Cipla among others.
Among other shares, Wockhardt was down 2.2% at Rs 468 after medical regulator UK MHRA has decided to withdraw Good Manufacturing Practices (GMP) certification for company's plant at Daman. This is the third plant to be hit by export restrictions this year.
Two weeks ago, GMP certification for Wockhardt's Chikaltahana plant was withdrawn by UK MHRA.
At 2:15 PM, the 30-share BSE Sensex was down 40 points at 20,853 and the broader 50-share Nifty index was down almsost 7 points at 6,198. While, small-cap and mid-cap indices, at the BSE, were trading up 0.1% and 0.6% respectively.
The rupee continued to trade weak due to month-end dollar demand from importers.The partially convertible INR was trading at 61.68-a-dollar against its previous close of Rs 61.52 per dollar.
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Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.13%, while the Shanghai Composite led the Hang Seng lower. They fell 0.83% and 0.52% respectively.
European markets are mixed. The FTSE 100 is higher by 0.10%, while the DAX is leading the CAC 40 lower. They are down 0.10% and 0.09% respectively.
BSE Power, PSU, IT, TECk, capital goods, realty, metal and banks were the gainers in sectors while Consumer durables, Auto, oil & gas and healthcare were the losers.
Finance minister while at a meeting with PSU banks chiefs said that the rise in banks' non-performing assets was "unacceptable". He said he expects bad loans to come down after economy picks up .
He said credit growth has been satisfactory, expects same for the rest of the fiscal year.
Chidambaram also said that a decision on extra fund infusion in PSBs (public sector banks) will be take today. Government infusion of Rs 14,000cr in PSU banks will begin today.
Bank Nifty was seen trading higher by 0.3% with Yes Bank, Axis Bank, PNB and Bank of India leading with gains between 1-3%.
Mortgage lender HDFC was the top Sensex loser down 2.1%. The company on Monday reported a 10.27% jump in its standalone post tax profit for the second quarter (Jul-Sep) at Rs 1,266.33 crore. It had posted a net profit of Rs 1,151.12 crore in the corresponding July-September quarter last year.Its net interest income grew 11% to Rs 1,814 crore. The growth was slower because of the dividend from its associate HDFC Bank coming in the first quarter itself, unlike the usual second quarter, its Vice Chairman and Chief Executive Keki Mistry said.
HDFC Bank was down 0.5% on profit taking.
Among the index heavyweights, Reliance Industries was down 0.7% amid profit taking after recent gains post its second quarter earnings. FMCG major ITC was down 1.2%
Other Sensex losers include, Hero MotoCorp, M&M and Cipla among others.
Among other shares, Wockhardt was down 2.2% at Rs 468 after medical regulator UK MHRA has decided to withdraw Good Manufacturing Practices (GMP) certification for company's plant at Daman. This is the third plant to be hit by export restrictions this year.
Two weeks ago, GMP certification for Wockhardt's Chikaltahana plant was withdrawn by UK MHRA.