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Local equities continue sluggish trend
India, Feb. 8 -- Local equity benchmarks continued to show a sluggish trend in morning session, with losses of over half a percent. Weakness was visible in the broader markets with the S&P BSE Mid-cap slipped around one percent and the S&P BSE Small-cap indices losing around one third a percent. A level of pressure was seen on frontline stocks, especially Tata Motors, Vedanta and Tata Motors - DVR. Market participants took note of a private report that Indian inflation reversed course and nudged up slightly in January but remained below the central bank's target for a sixth straight month, supporting this week's unexpected move by policymakers to cut rates. Traders paid no heed to a report that after RBI cut its repo rate in its latest bi-m...
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