INSUBCONTINENT EXCLUSIVE:
Share market on Wednesday: Twenty three out of 30 Sensex stocks finished the session in the red.Snapping three sessions of gains, the
domestic stock markets closed in the red on Wednesday, dragged by financial stocks such as Indiabulls Housing Finance Ltd and Yes Bank Ltd
the crucial 10,700-mark in trade.Except FMCG and IT, all other sectoral indices led by auto, finance and banking counters, witnessed heavy
The overall sentiment was cautious as investors were on a wait-and-watch mode ahead of financial results from Reliance Industries, to be
released later in the day, analysts said.Twenty three out of 30 Sensex stocks finished the session in the red
Prominent losers in the 30-share Sensex pack were Yes Bank (-6.85 per cent), Adani Ports (-5.41 per cent), Maruti Suzuki (-3.79 per cent),
Tata Motors (-3.40 per cent), Tata Steel (-3.39 per cent) and SBI (-3.35 per cent)
Indiabulls Housing Finance (-13.37 per cent), Bajaj Finance (-6.97 per cent), Yes Bank (-6.39 per cent), Adani Ports (-5.80 per cent) and
rising crude prices and depreciating rupee
The recent string of defaults by non-banking financial companies (NBFCs) on debt repayment has compounded worries."Markets were dragged
lower by financials as liquidity fears were reignited
NBFC stocks were under pressure
News of one major NBFC having major exposure to a default-rated real estate company spooked the markets", Viral Berawala, CIO, Essel Mutual
Fund told TheIndianSubcontinent.In terms of stock-specific action, Dewan Housing Finance Corp closed 12.34 per cent down on the Bombay Stock
Reliance Industries closed 1.27 per cent lower while Hero MotoCorp Ltd lost 2.88 per cent.On the other hand, shares of Infosys Ltd closed
investors (FIIs) sold shares worth Rs 1,165.63 crore, while domestic institutional investors bought shares to worth Rs 1,059.44 crore on
