Reuters Market Eye - Shares in DLF Ltd(DLF.NS) recover to rise 1 percent after falling as much as 1.6 percent in early trading.
The shares had initially slumped after DLF said late on Monday July-September net profit slumped 63 percent from a year ago, hit by slowing home sales.
DLF shares had fallen 5.2 percent over the three previous sessions.
However, analysts say the company's management indicated on a call that the second quarter was likely to be a trough and guided for an improvement in launches, continued debt reduction, and potential asset sales.
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What seemed like a possibility for the Nifty to cross the 8,000 mark just two weeks ago has now turned out to be a far-fetched dream. A 7,950-8,000 range could be used to book partial profits and re-enter closer to 7,750-7,800 for the next couple of weeks. The next big trigger would be the arrival of monsoons, writes Ambareesh Baliga. Read