The broader market indices underperformed the major indices in the market. BSE Mid cap index closed at 14037 levels, down by 1.43%, BSE Small cap index closed at 14556 levels, down by 1.44%. Tata Motors was the eye catcher in today’s trade. The stock surged to an intraday high of Rs 472.95 per share up by nearly 5% on BSE. The stock reacted positively to its Q4 earnings. The stock ended at Rs per share up by on BSE in today’s trade.
Metal stocks reeled under pressure as Moody's Investor’s Service downgraded debt rating of China saying the outlook for its financial strength will worsen. The credit rating agency believes that the financial strength of China will erode in coming years as the debt of the country is on the rising trend.
China is the world's biggest consumer of metals. The downgrading of the China’s credit rating has worried the metal investors globally and domestically.The major metal stocks namely SAIL, MOIL, Hindalco & Vedanta Ltd lost nearly 3% on Wednesday’s trade. SAIL was the top loser in the BSE Metal index, closed lower by around 4% at Rs 57.05 per share. Pharma stocks traded weak in today’s trading session. Divis Lab was the top loser in Nifty Pharma index closed lower by 3.2% at Rs 557.20 per share on NSE.
Metal stocks reeled under pressure as Moody's Investor’s Service downgraded debt rating of China saying the outlook for its financial strength will worsen. The credit rating agency believes that the financial strength of China will erode in coming years as the debt of the country is on the rising trend.
China is the world's biggest consumer of metals. The downgrading of the China’s credit rating has worried the metal investors globally and domestically.The major metal stocks namely SAIL, MOIL, Hindalco & Vedanta Ltd lost nearly 3% on Wednesday’s trade. SAIL was the top loser in the BSE Metal index, closed lower by around 4% at Rs 57.05 per share. Pharma stocks traded weak in today’s trading session. Divis Lab was the top loser in Nifty Pharma index closed lower by 3.2% at Rs 557.20 per share on NSE.
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