SBI plunged over 3% after posting a 34.57% fall in net profit to Rs 2,538 crore for the quarter ended September 2016 on rise in provisions for non-performing loans.
The progress on US debt ceiling talks, domestic inflation numbers and second quarter earnings of companies are expected to keep investors busy in the truncated trading week ahead.
Markets crashed due to domestic worries; bluechip stocks tanked too.
Indian indices have hit all-time highs in the New Year and the sentiment remains strong. All valuations are also at extremely high levels, cautions Devangshu Datta
Spot gold was up 0.6 percent at $1,103.60 an ounce by 0318 GMT, after an early low of $1,096.65.
'For investors who are willing to remain invested for two - three years, there exist quite a few good opportunities.'
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The Indian rupee touched record low of 65.52/dollar on Thursday and is down 16 per cent so far this year despite efforts by policymakers to prop it up.
Tuesday's was the S&P's worst drop since August 24.
'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
With outlook uncertain for a range of sectors, no one is quite sure of where to invest in stocks
Telcos have indicated that rates will have to be raised, as higher volumes alone will not suffice to meet the higher costs.
Expectations that the shutdown will hurt the economy and prompt the Federal Reserve to postpone the start of its withdrawal of monetary stimulus weighed on the US currency.
Slowdown and liquidity squeeze by RBI have put India's top 10 indebted firms in a tight spot. But they have a few options.
Officials say a fall in global oil prices will reduce the government's subsidy burden, giving it a greater chance of hitting its ambitious fiscal deficit target of 4.1 percent of gross domestic product in the fiscal year to March.
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