The News International Team
The market is flat as the Sensex is up 8.38 points at 28853.16 and the Nifty is down 3.20 points at 8753.55. About 1366 shares have advanced, 1209 shares declined, and 202 shares are unchanged.
Bharti Airtel, Coal India, M&M, Bajaj Auto and ICICI Bank are top gainers while HDFC, HUL, ONGC and Wipro are among losers in the Sensex.
Domestic passenger car sales grew by 6.85 percent to 1,71,727 units in February this year as compared to 1,60,717 units in the same month of 2014.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), motorcycle sales in last month were down by 8.22 percent to 7,74,122 units from 8,43,436 units in the same month previous year. Total two-wheeler sales in February 2015 were down by 0.99 percent to 12,08,084 units from 12,20,141 units in the same period a year ago.
Japanese stocks turned lower afternoon, erasing all of the earlier gains as banks were hit hard by a report saying that the Basel Committee may ask banks to boost capital as a sufficient cushion in case of spikes in interest rates. Japan’s opposition stems from its banks holding massive quantities of government bonds: 128 trillion yen worth in January, the Nikkei said.