Karvy Stock Broking Limited has maintained ‘buy’ rating on ICICI Bank stock with an intraday target of Rs 440.

According to Karvy, interested traders can purchase the stock between Rs 418-422 with a strict stop loss of Rs 400. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 405.
 

Indian equities continued to trade in the negative terrain on fears over lower earnings.

The 30-share index BSE Sensex ended on a highly negative note yesterday with some major corporate houses declaring disappointing quarterly figures.

Asian markets weighed the depressing outlook. Realty, metal, IT, oil & gas and power stocks that had bounced back fairly strongly yesterday after recent huge losses, are back in the red again on account of heavy selling action.

BSE Midcap and Smallcap declined 2.02% and 1.59% respectively.

It has been a splendid session for stocks thus far. Indian equities have moved up sharply due to continued buying action witnessed across board.

Both Sensex and Nifty have recorded thumping gains. Realty, consumer durables, IT, power and oil & gas gained a lot.

BSE Midcap and Smallcap gained 1.67% and 1.70% respectively.

Today, the 30-share index, BSE Sensex opened positively at 10,428.11, up 205.02 points, as against its previous closure in which it gained 247.74 points.

After marking its closure below 11K on Wednesday (Oct 15), the 30-share index BSE Sensex belled the day on a weak note on fears over a long lasting global economic recession activating a huge sell-off across worldwide markets.

The sharp 100 basis points cut in Cash Reserve Ratio (CRR) failed to cause any significant buying this morning.

Realty, metal, IT, Oil & gas and power stocks suffered huge losses. 

BSE Midcap and Smallcap index fell 4.77% and 3.94% respectively.

After two successive days of strong gains, Indian equities plummeted into the negative terrain in today’s session on fears of slowdown in the financial system.

Indian equities continued to trade weak due to heavy selling action seen across board. 

All the sectoral indices were hammered badly.

BSE Midcap and Smallcap index declined more than 4% each.

Today, the 30-share index BSE Sensex started the day with a loss of 238.13 points, at 11,245.27 on Wednesday.