Private banks, FMCG, auto and oil & gas stocks are under pressure while power stocks charged up again.

India Infoline Housing Finance’s (IIHFL) issue of secured, redeemable, non-convertible debenturesof face value of Rs 1,000 each has opened for subscription today.

The issue will close on December 20, 2013. IIHFL, the housing finance arm of India Infoline, retains the option to close on such earlier date or extended date up to a period of 30 days from the date of opening of the issue.

The company aims to raise Rs 500 crore (NCD issue aggregating up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore). IIHFL’s maiden public issue of IIFL Home Bonds with 5-year tenor, is offering a coupon rate of 11.52 percent per annum payable monthly.

Credit Suisse has an outperform rating on the stock and raised its target price to Rs 540 from Rs 420 apiece. “The stock has outperformed by 20 percent since Zomato raised funds. We see more upside potential in the stock and expect recruitment segment to accelerate significantly in FY15,” Credit Suisse report said.

The market continued to fall for the third consecutive session today on Fed tapering fears. The Sensex lost 126.49 points to 21,044.92, and the Nifty fell 39.95 points to 6,267.95. Private banks, FMCG, auto and oil & gas stocks were under pressure while power stocks charged up again.

Private banks, FMCG, auto and oil & gas stocks were under pressure while power stocks charged up again. Shares of Reliance Industries, Tata Motors, ICICI Bank and Bharti Airtel dropped between 1-2 percent. However, Tata Power bucked the trend, rising 6 percent. BHEL, HDFC, GAIL and Jindal Steel gained 0.5-1 percent.

Andrew Holland of Ambit Investment does not expect higher levels from hereon and sees Nifty moving to 6000 level by end of 2013. He sees Fed tapering taking place between December and January.

In macro data today, CNBC-TV18 poll sees October IIP contracting 1.2 percent as against a growth of 2 percent last month, largely driven by a high base effect. November consumer price index is likely to remain elevated in double digits at 10 percent. Both data will be announced post market hours today.