HDFC extended losses in noon trade, falling more than 2 percent followed by ICICI Bank (down 1.2 percent), Infosys (down 0.65 percent) and Wipro (down 1.7 percent).
The problem according to Saurabh Mukherjea of Ambit Capital is that two developmentsâ"negative interest rates and negative inflation-- are striking at the heart of the premise that the entire banking system is built on
Note: Any changes made to your Portfolio today will be effective only in the next day's Networth mailer.
Equity benchmarks came off day's high with the Nifty trading below the 8700 level, weighed down by ICICI Bank and Larsen & Toubro that fell 3 percent each post earnings.
Speaking to CNBC-TV18, Consulting Editor Udayan Mukherjee said marquee companies have been disappointing so far in the first quarter of FY17. The trader has to be bullish now. If you are bullish, you should be a paranoid bull, he said. Because may pieces of the puzzle arenât looking comfortable.
Note: Any changes made to your Portfolio today will be effective only in the next day's Networth mailer.