During the four-day sell-off in the market, investors’ notional wealth has declined by Rs 10.3 lakh crore.
In the international market, gold was trading in the green at USD 1,794 per ounce and silver was flat at USD 24.35 per ounce.
“Overall market levels are significantly at a premium to current values. The markets are pricing in much lower levels of interest rates for a fairly long period of time. So either the interest rates have to remain low and growth rates have to adjust downwards or vice-versa. In either case the markets then have to reduce valuations.â€
The private sector lender is likely to report a 19.7 per cent year-on-year growth in net profit to Rs 5,086.7 crore for the quarter ended September.
On a sequential basis, while sales may rise 4 per cent, profit may see a degrowth and margins may fall, analysts said.
The 30-share BSE Sensex closed down 101.88 points at 60821.62
The two-wheeler maker reported a 22 per cent on-year growth in revenue from operation to Rs 5,619.4 crore for the reported quarter, which was also above Street’s estimate.
Going into Q2, the inflationary trends continued and we had another 6-7% hike. We expect this inflationary trend to continue well into Q3 as well. Going forward, we are taking very concrete steps to address the whole problem of 18% to 20% inflation.
The stock quoted a 52-week high of Rs 7462.95 and a 52-week low of Rs 3362.05.
A total of 698,854 shares changed hands on the counter till 02:14PM (IST)
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