Tata Group and Singapore International Airlines joint venture company could...
Following the downtrend in Asian and European markets, Indian Stock markets have been trading lower on Tuesday. At 1 pm IST, Indian stock markets were trading with a loss of nearly 110 point. BSE Sensex was at 16605 while NSE Nifty was down by 33 points at 4984.
Among major losers were Real Estate counters. DLF was down by 5.7% at Rs 195. Real estate stocks might face the pressure as the cabinet has approved the change to land acquisition bill. Market experts believe that with more compensation to farmers, the house prices might go higher. This will cause pressure on margins of real estate developers and also will impact the sales. HDIL was down by 5.5%. Indiabulls Real Estate and Sobha Developers were down by over three per cent. United, Peninsula Land, Anant Raj Industries and Phoenix Mills were trading in negative zone.
Among healthcare stocks, Sun Pharma was major loser. The stock was trading at Rs 488 after touching an intraday low of Rs 486. Biocon, Cadila Healthcare, IPCA Labs, Divis Labs, Dr Reddy's Labs, Ranbaxy and GlaxoSmithKline were trading marginally lower compared to last close.
Among auto counters, M&M was trading higher at Rs 790 and Tata Motors was also in positive zone. Maruti was up by 1.2% at Rs 1100. Bajaj Auto, Hero Motorcorp and Ashok Leyland were trading marginally lower.
Other gainers included Kotak Mahindra, Ambuja Cemebts, Tata Motors, ONGC and Reliance.
Among top losers were Reliance Infra, Reliance Communications, Reliance Captial, SBI, Power Grid, Grasim, ICICI Bank, Sesa Goa, Tata Steel, Bharti Airtel, IDFC, HUL, HDFC Bank and ITC.
Markets are expected to close lower today, unless some positive news comes from European markets.