Sensex, Nifty rangebound; top ten stocks in focus

NEW DELHI: The S&P BSE Sensex plunged as much as 86 points in trade on Wednesday following muted trend seen in other Asian markets. The fall in the index was led by losses in ITC, HDFC Bank, Tata Motors and L&T.

Tracking the momentum, the 50-share Nifty index also came under some bit of pressure but was trading above its crucial psychological level of 7700.

At 11:10 a.m.; the BSE Sensex was trading 0.18 per cent lower or 46.23 points at 25,861.78. It hit a low of 25,821.59 and a high of 25,901.68 in trade today.

The 50-share Nifty index was trading 0.23 per cent lower or 17.65 points at 7,728.90. It hit a low of 7,715.80 and a high of 7,739.60 in trade today.

"Considering the prevailing volatility in benchmark indices, it's advisable to uphold the stock specific approach on Wednesday as well," said Jayant Manglik, President-retail distribution, Religare Securities Limited.

"Ideally, traders should also keep their positions hedged during such market situations; to avoid unmanageable losses," he added.

D-Street highlights @ 11 am

Tree House Education: Expect topline to grow by 20-25% & bottomline by 25-30% going ahead

Tree House Education: Strong EBITDA margin expansion aided by tier 2,3 center openings

RBI Governor: Market should not assume SLR will be cut at every policy

RBI Governor: Asset recast cos to get minimum 2 weeks for due diligence

RBI Governor: Comfortable with maturities where FIIs invest in Govt debt

RBI Governor: Trying to get Euroclear, clearstream for bond settlement

RBI Governor: Not against raising cap on FII debt investment

RBI Governor: Comfortable with the fact that there is room for FIIs in gilt mkt

RBI Governor: DIIs to deploy more funds in gilts as market develops

RBI Governor: RBI doesn't manage long-term liquidity via Fx intervention

RBI Governor: Transmission of 25 bps policy rate cut takes 3-4 quarters



@ 10 am

Hits New High On BSE 100 Tech Mahindra Price:2179.6 Change: -8.1 Percent Change: -.37%

L&T Fin Holdings: Need investment in infra for growth to pick-up

L&T Fin Holdings: Achieving fiscal deficit target of 4.1% of GDP by FY15 tough

L&T Fin Holdings: Do not expect RBI to cut rates meaningfully this year

L&T Fin Holdings: Do not see flow of credit to market immediately on SLR cut

Hits New High On BSE 100 HUL Price:720.15 Change: +15.3 Percent Change: +2.17%

Hits New High On BSE 100 Tata Chemicals Price:382.35 Change: +8 Percent Change: +2.14%

Sintex Inds: Spinning projects have been commanding high capex

Sintex Inds: Expect 70% revenues to come from overseas in textile segment

BofA-ML: Have neutral view on IT sector

BofA-ML: Infra cos need to see balance sheet clearances

BofA-ML: Positive on Pharma stocks that have visible growth over 2 years

BofA-ML: See sharp earnings growth in cement sector

Here is a list of ten stocks which are in focus today:

Hero MotoCorp Ltd: The two wheeler reported net profit of Rs 562.7 crore for the quarter ended June 2014, up 2.5 per cent, from Rs 549 crore, in the corresponding quarter last fiscal.

Bata India Ltd: Footwear firm Bata India reported 4.14 per cent decline in standalone net profit at Rs 59.37 crore for the second quarter ended June 30, 2014.