NIFTY Financial News

Shares of TVS Motor Company(up 0.73 per cent) ended the day as top gainers in the pack. On the other hand, Bosch(down 3.86 per cent), Hero MotoCorp(down 3.5 per cent), Tata Motors(down 3.26 per cent), Bharat Forge(down 2.99 per cent) and Eicher Motors(down 2.44 per cent) finished as the top losers of the day.

Shares of Tech Mahindra(up 0.19 per cent) ended the day as top gainers in the pack. On the other hand, MPhasis(down 3.77 per cent), LTIMindtree Ltd(down 2.24 per cent), Persistent Systems(down 1.92 per cent), Coforge(down 1.82 per cent) and Wipro(down 1.02 per cent) finished as the top losers of the day.

Fitch Ratings downgrade: Could a cut in US rating mean higher inflows to India, other EMs? Read more: Explained: What is a rating downgrade? And six key reasons why Fitch Ratings downgraded US Sensex opened 350 points lower at 66,064.41 against the previous close of 66,459.31 and plunged about 1028 points to hit the intraday low of 65,431.68. The index closed with a loss of 677 points, or 1.02 per cent, at 65,782.78 while the Nifty ended at 19,526.55, down 207 points, or 1.05 per cent.

Nifty had a significant decline on Wednesday's trading session as a result of negative economic data coming out of China, the euro zone, and the US, which prompted caution and had an impact on the risk sentiment. The Nifty 50 index was down 1.05% at 19,526.55, while the S&P BSE Sensex fell 1.02% to 65,782.78. Also, the fear gauge index, India VIX soared and closed 9.67% higher amid negative cues from global markets.

Zerodha Co-Founder Nikhil Kamath believes investors should not get carried away in a bull market if it lasted longer with low volatility. Sharing his views on Twitter, Kamath said it is it's more about not losing too much in the bad times and not making the most during the good times. "Bear markets are significantly more dramatic than bull, if this bull run has lasted longer than usual and vix(volatility index) is at a ridiculously low level, don't get carried away," Kamath wrote on Twitter.

Read all market-related news here Disclaimer: The views and recommendations above are those of individual analysts and broking companies, not of Mint.

midcap and smallcap indices also falling over a percent each. All the sectoral indices were trading in the red with banks, auto and metals falling the most. Tata Motors, Hero MotoCorp, Tata Steel, Coal India were among the top losers on the Nifty today.

«The question really is, are you going to go either into a long consolidation or a deep direction? I think neither of those right now yet very-very clearly. All that has happened is that you have broken the 20-day average both on the Nifty and Bank Nifty which gives us another 1% to 3% kind of downside,» says Rohit Srivastava, Indiacharts.com.If I am a positional trader and I have been riding the market for a few months now, however, much compulsive trader I am on the long side suppose, one was getting completely exhausted on any fresh long ideas because everything seemed to have gone up. So, if a cut actually happens, will it make markets healthier and how severe could it be in your view, just a shallow cut or could it get deeper?It is an interesting question because if you think of yourself either as a positional trader or investor, you hope to buy at much lower levels.

Metal stocks fell up to 3% on Wednesday amid a firmer US dollar which made greenback-priced commodities more expensive for holders of other currencies. The Nifty metal index was down 1.3% around 11:45 am and trading at 6,681, with 12 scrips in the red in the 15-stock index. The top losers in the day's trade were National Aluminium Company (3%), Jindal Stainless (2.6%) and Tata Steel (2.6%).

Trent Ltd. traded 0.32 per cent down in Wednesday's trade at 01:49PM (IST). Around 8,369 shares changed hands on the counter.

Bandhan Bank Ltd. slipped 2.46 per cent to Rs 222.15 in Wednesday's trade as of 01:44PM (IST). It hit a high of Rs 227.0 and low of Rs 221.15 during the session.

SBI Cards and Payment Services Ltd. traded 2.04 per cent down in Wednesday's trade at 01:24PM (IST). Around 27,690 shares changed hands on the counter.

Bharat Forge Ltd. traded 2.26 per cent down in Wednesday's trade at 12:38PM (IST). Around 28,126 shares changed hands on the counter.

Mid cap and small cap stocks started gaining from April. The Nifty Midcap 100 — TRI has surged by 21.75% since April. During the same period, Nifty Smallcap 100 — TRI has surged by 26.19%. At present there are around 35 schemes in the flexi cap category. Out of 35 schemes, 19 schemes have increased their allocation in mid cap stocks and 26 schemes increased their allocation in small cap stocks. Around 24 flexi cap schemes have reduced their allocation in large cap stocks.

ICICI Lombard General Insurance Company Ltd. traded 1.08 per cent higher in Wednesday's session at 11:37AM (IST).

Shriram Finance Ltd. traded 0.45 per cent lower in Wednesday's session at 11:32AM (IST).

Read here: Fitch cuts US credit rating to AA+ from AAA after debt limit standoffs; White House “strongly disagrees" “Rupee is likely to appreciate today amid expectation of correction in dollar. Dollar is likely to retreat from its high after US credit rating downgrade.

Indiabulls Real Estate(up 3.65 per cent), Oberoi Realty(up 1.96 per cent), SOBHA(up 1.77 per cent), Phoenix Mills(up 0.79 per cent) and Brigade Enterprises(up 0.7 per cent) were among the top gainers. Mahindra Lifespace Developers(down 0.91 per cent), Macrotech Developers(down 0.37 per cent) and DLF(down 0.1 per cent) were the top losers on the index.

GE Power India Limited(up 12.21%), KEC International(up 9.13%), Jyoti Structures(up 4.98%), Reliance Power(up 3.82%), Orient Green Power Company(up 3.24%), RTNPOWER(up 1.92%), Voltamp Transformers(up 1.62%), Hitachi Energy India(up 1.02%), KPI Green Energy(up 0.93%) and CESC(up 0.91%) were among the top gainers. Indo Tech Transformers(down 2.40%), Indowind Energy(down 1.81%), NHPC(down 1.73%), Suzlon Energy(down 1.30%), PTC India(down 1.28%), NTPC(down 1.18%), Tata Power Company(down 1.15%), SJVN(down 1.14%), ADANIGREEN(down 0.83%) and Jaiprakash Power Ventures(down 0.75%) were among the top losers.

Zomato Ltd. traded 1.03 per cent up in Wednesday's trade at 10:05AM (IST). Around 460,186 shares changed hands on the counter.

Markets consolidated again in a narrow range with the key indices ending with mild losses. The markets opened modestly positive.