14:18
Moneycontrol BureauLive Market Commentary
The market remained rangebound in afternoon trade due to lack of any sort of a trigger. The next trigger for the market is likely to be Infosys' October-December quarter earnings on Friday, followed by November industrial output.
The Sensex slipped 5.04 points to 20,724.34, and the Nifty declined 6.05 points to 6,168.55. Declining shares outnumbered advancing ones by a ratio of 1,326 to 1,015 on the BSE.
Axis Bank, Financial Technologies, MCX India, ICICI Bank, Torrent Pharma, Infosys, and Larsen and Toubro are the most active shares on exchanges.
Shares of Axis Bank, and Larsen and Toubro lost 2 percent each while ITC slipped 0.5 percent. CNBC-TV18 learned from sources that the government will pave way for Axis Bank's stake sale today.
Sources say Cabinet Committee on Economic Affairs will consider reversing decision on SUUTI AMC today. The decision will enable government to sell SUUTI portfolio.
CCEA had earlier decided to transfer SUUTI assets to AMC. SUUTI Portfolio comprises Axis Bank, L&T and ITC.
According to sources, the government is planning to sell 12-13 percent of Axis Bank stake that may take place in February.
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