Indian Stock Trading Market News and Analysis

The S&P BSE Sensex slipped over 300 points in trade on Wednesday, led by losses in ICICI Bank, ITC, Tata Motors, HDFC Bank and RIL.Vedanta slashed about 4%, Tata Motors 2%, while IOC was down nearly 2%. Only 2 stocks were trading in green on BSE. 

ICICI Home Finance Co. plans to raise funds selling zero-coupon bonds maturing in 18 months, two merchant bankers told Newsrise on Tuesday. The private lender will pay an internal rate of return of 8.70 percent to investors of this issue.Indiabulls Housing Finance Ltd. has raised 3.00 billion rupees through an issue of bonds maturing in three years,merchant bankers told Newsrise on Tuesday. The company will pay an annual coupon of 9.10 percent to investors of these bonds,which have a put option at the end of 15 months, they added.

 The market retreated badly in early trade Wednesday following weakness on Wall Street and volatility in China despite rate cut by People's Bank of China. The Sensex fell 337.22 points or 1.30 percent to 25695.16 and the Nifty lost 87.65 points or 1.11 percent to 7793.05. About 246 shares have advanced, 661 shares declined, and 35 shares are unchanged on the BSE.

Foreign institutional investors sold Indian stocks worth Rs 2,080 crore on Tuesday. They have been heavy sellers of Indian stocks in the past four days, putting pressure on Sensex. In the past four days, they sold Indian stocks worth over Rs 11,000 crore.

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