Indian equity marks opened flat on Wednesday following selling pressure on midcap stocks.
At 942a.m., Sensex was over 49 points or0.06 per cent, at 78,103 and Nifty was down 11 points or0.05 per cent, at 23,709.
The Nifty Midcap 100 indicator fell 75 points or0.13 per cent to 55,294 and the Nifty Smallcap 100 indicator rose 41 points or0.23 per cent to 18,284.
UltraTech Cement, ICICI Bank, L&T, Tata Motors, NTPC, Kotak Mahindra and TCS are the top winners. M&M, Tata Steel, HDFC Bank, JSW Steel and Sun Pharma are the top disasters.
Among the sectoral indicators, bus, PSU Bank, Pharma, Fin Service, FMCG and Realty are major dalliers. IT, Energy, Media and Commodity indicators are major winners.
According to the experts,” The 16 per cent credit growth in the frugality and perfecting asset quality of these stocks augur well for them. Slight pressure on perimeters due to slow deposit growth and advanced costs of deposits are doubtful to impact the nethermost line significantly. From the valuation perspective, PSU banks now give buying openings.”
” Q1 results of financials, oil painting and gas, capital goods, motorcars, elect pharma and telecom will be good. FMCG and IT will post restrained figures as anticipated,” they added.
utmost of the requests in Asia are bullish. Tokyo, Hong Kong, Bangkok, Seoul and Jakarta are in the green. still, the Shanghai request is in the red. US requests closed mixed on Tuesday. Crude oil painting standard Brent crude is at$84.64 per barrel and WTI crude is at$81.25 per barrel.
