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The S&P BSE Sensex started on a cautious note with a negative bias on Friday led by losses in Infosys, Bharti Airtel, Sun Pharma, Axis Bank, and State Bank of India.The Nifty50 slipped below its crucial psychological support level of 7,900 weighed down by losses in power, consumer durables, capital goods, banks, auto, and auto stocks.
IndusInd Bank gains as much as 2 pct, recovers from Thursday's fall.Initial concerns about rise in NPAs, provisioning send shares down 1 pct on Thursday but analysts broadly positive on results.The lender's Q4 profit rose 25.3 pct, with loan growth at 29 pct, from previous year.HSBC raises price target to 1,176 rupees from 1,142 rupees, keeps "buy" rating.Despite poor asset quality trends in the sector, the bank's asset quality has held up quite well, says HSBC.
The S&P BSE Sensex started on a cautious note with a negative bias on Friday led by losses in Infosys, Bharti Airtel, Sun Pharma, Axis Bank, and State Bank of India.The Nifty50 slipped below its crucial psychological support level of 7,900 weighed down by losses in power, consumer durables, capital goods, banks, auto, and auto stocks.
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