SENSEX 18509.70 -291.94
NIFTY 5574.75 -98.15
USD/INR 0054.87 +00.42
NASDAQ 3218.60 +36.26
GOLD 28918.92 +92.00
UPDATEDTIME 09.28 PM 04 APRIL 2013
|
The
benchmark BSE index Sensex fell to an over-four-month closing
low on Thursday on worries that foreign fund inflows may drop on continued
political uncertainty and likely muted earnings from companies.
Technology shares led the losses as economic data from the United States, the biggest outsourcing market for Indian technology companies, pointed to a weak jobs market. Bank shares traded lower a day after data showed 2012/13 loan growth fell below the central bank's projection on slow demand.
The 50-share NSE index and the benchmark BSE index broke below their the 200-day moving average, a key technical support.
Market participants are increasingly jittery that the current domestic economic and political situation can spark a broader sell-off by overseas investors who have pumped in above $10 billion so far this year.
FIIs can choose other markets which are doing way better than India. In the short run, India may go out of flavour as the government needs to follow through on the announcements it has made.
The BSE index fell 1.55 percent, or 291.94 points, to 18,509.70, posting its biggest daily percentage fall since Feb. 26, and lowest close since Nov. 23, 2012.
The broader NSE index ended down 1.73 percent, or 98.15 points, to 5,574.75, posting its biggest daily fall since Feb. 28.
Market participants believe some reversal of flows in the near term may happen unless steps are followed on economic revival and monetary policy becomes supportive of growth.
Technology shares fell, with Infosys BSE -2.74 % Ltd ending 3 percent lower, while Tata Consultancy Services LtdBSE -2.36 % fell 2.3 percent.
Bank shares also fell a day after data showed advances increased at a slower pace in 2012/13 compared with a year earlier, and fell short of the central bank's projection, hurt by lower demand for credit from companies in a slowing economy.
ICICI Bank BSE -2.07 % Ltd fell 2.2 percent, HDFC Bank LtdBSE -1.34 % declined 1.2 percent and State Bank of IndiaBSE -1.96 % ended 1.8 percent lower.
Bharti Airtel BSE -2.46 % Ltd's shares fell 2.6 percent after a panel of judges at India's Delhi High Court set aside on Thursday the court's earlier order that had halted the execution of a government ban on the company's 3G service pacts with rival carriers.
However, Dr Reddy's Laboratories BSE 3.03 % Ltd shares gained 2.8 percent after the company launched Zoledronic Acid injection in the United States.
Shares in Coal India Ltd BSE 2.56 % rose 3 percent after Bloomberg News reported that the government plans to raise 200 billion rupees ($3.67 billion) by selling part of its stake in the company.
Technology shares led the losses as economic data from the United States, the biggest outsourcing market for Indian technology companies, pointed to a weak jobs market. Bank shares traded lower a day after data showed 2012/13 loan growth fell below the central bank's projection on slow demand.
The 50-share NSE index and the benchmark BSE index broke below their the 200-day moving average, a key technical support.
Market participants are increasingly jittery that the current domestic economic and political situation can spark a broader sell-off by overseas investors who have pumped in above $10 billion so far this year.
FIIs can choose other markets which are doing way better than India. In the short run, India may go out of flavour as the government needs to follow through on the announcements it has made.
The BSE index fell 1.55 percent, or 291.94 points, to 18,509.70, posting its biggest daily percentage fall since Feb. 26, and lowest close since Nov. 23, 2012.
The broader NSE index ended down 1.73 percent, or 98.15 points, to 5,574.75, posting its biggest daily fall since Feb. 28.
Market participants believe some reversal of flows in the near term may happen unless steps are followed on economic revival and monetary policy becomes supportive of growth.
Technology shares fell, with Infosys BSE -2.74 % Ltd ending 3 percent lower, while Tata Consultancy Services LtdBSE -2.36 % fell 2.3 percent.
Bank shares also fell a day after data showed advances increased at a slower pace in 2012/13 compared with a year earlier, and fell short of the central bank's projection, hurt by lower demand for credit from companies in a slowing economy.
ICICI Bank BSE -2.07 % Ltd fell 2.2 percent, HDFC Bank LtdBSE -1.34 % declined 1.2 percent and State Bank of IndiaBSE -1.96 % ended 1.8 percent lower.
Bharti Airtel BSE -2.46 % Ltd's shares fell 2.6 percent after a panel of judges at India's Delhi High Court set aside on Thursday the court's earlier order that had halted the execution of a government ban on the company's 3G service pacts with rival carriers.
However, Dr Reddy's Laboratories BSE 3.03 % Ltd shares gained 2.8 percent after the company launched Zoledronic Acid injection in the United States.
Shares in Coal India Ltd BSE 2.56 % rose 3 percent after Bloomberg News reported that the government plans to raise 200 billion rupees ($3.67 billion) by selling part of its stake in the company.
Regards
RAKESH MAKIN
+91, 9041667797(DIRECT),
9915684997
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
WISH U ALL HAPPY & SAFE TRADING
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