Key benchmark indices edged lower in choppy trade as a decision by State Bank of India (SBI), India's biggest commercial bank in terms of branch network, to raise lending rates by 20 basis points hurt investor sentiment adversely as borrowing costs will rise for the corporate sector. A faster-than-estimated expansion in a US services gauge stoked speculation the world's largest economy is strong enough to allow the US Federal Reserve to reduce stimulus for the US economy earlier than analysts had projected. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year. The BSE Sensex closed at 20894.94 and 79.85 point down.
Who Moved and Why
1) GSK Consumer Healthcare gains after good Q2 earnings.
2) Suprajit Engineering hits all-time high after record October sales.
3) Bhel drops amid volatility after poor Q2 outcome.
4) ABB India gains after strong Q3 outcome.
5) Divi's Lab inches up amid volatility after two block deals.
6) IT stocks in demand as Cognizant raises full year profit and revenue forecast.
7) SBI turns volatile after announcing hike in lending rates.
8) Bajaj Auto falls as October sales decline.
9) State Bank of Travancore drops after poor Q2 numbers.
Read detail analysis report here: - http://rahulrrfcl.livejournal.com/12551.html
Who Moved and Why
1) GSK Consumer Healthcare gains after good Q2 earnings.
2) Suprajit Engineering hits all-time high after record October sales.
3) Bhel drops amid volatility after poor Q2 outcome.
4) ABB India gains after strong Q3 outcome.
5) Divi's Lab inches up amid volatility after two block deals.
6) IT stocks in demand as Cognizant raises full year profit and revenue forecast.
7) SBI turns volatile after announcing hike in lending rates.
8) Bajaj Auto falls as October sales decline.
9) State Bank of Travancore drops after poor Q2 numbers.
Read detail analysis report here: - http://rahulrrfcl.livejournal.com/12551.html