Business Standard

Markets slip on profit-booking

BSE-Metal,power,banks drop on BSE

Related News

Markets fell in afternoon session on Thursday as investors booked profits in financials after upbeat third-quarter earnings.

At 2:20PM, the Bombay Stock Exchange's 30-share index fell 90 points and traded at  19,915  while the National Stock Exchange's 50-share fell 16 points  to trade at 6,039.

Risk appetite was also frail on caution ahead of January derivatives contract expiry.

In the results calendar, Siemens, Shobha Developers, Tata Global Beverages, Trent are scheduled to announce third-quarter results later today.

Asian shares paused amid concerns over growth recovery after world's biggest economy experienced the first quarter of negative GDP growth (-0.1% quarter-on-quarter at an annualized rate) since the Great Recession. 

Meanwhile,  US Federal Reserve did not announce any policy change on Wednesday . It did change its assessment of the economy and acknowledged that “economic activity paused in recent months", but added that it was “in large part because of weather-related disruptions and other transitory factors".

Hong Kong's Hang Seng fell 0.4% to 23,729, Taiwan's Weighted index rose 0.22% to 7,850,  Singapore's Straits Times inched down 0.1% to 3,282 while China's Shanghai Composite gained 0.12% to 2,385 and Japan's Nikkei rose 0.22% to 11,138.

In Europe, France's CAC fell 0.35% to 3,756, Germany's DAX declined 0.16% to 7,798 while UK's FTSE was down 0.3% to 6,303.
Back home, consumer durables, PSU, real-esate  rose while metals, IT, oil & gas, bank sectors, declined on BSE.

Among key Sensex stocks, BHEL gained 2.5%, Coal India rose 0.8%, ITC was up 0.7% ,Sun Pharma gained 0.67% on BSE.

Among losers,  Sterlite Industries and Jindal Steel dropped 2.7% and 1%, Tata Power dropped 2.5%, Dr Reddy's fell 1%,  ICICI and HDFC Bank shed 1% , Reliance Industries was down 1.15, Larsen & Toubro  shed 1% on BSE.

The other key notable movers include, Colgate-Palmolive (India) that fell 3% to Rs 1,339 after reporting 4% year-on-year (yoy) drop in net profit at Rs 111 crore for the third quarter ended December 31, 2012 (Q3) due to higher advertisement expenses.

ICICI Bank, country's biggest private-sector lender, fell over 1% as investor's booked profits after upbeat results. ICICI Bank posted a 30% jump in net profit at Rs 2,250 crore for the quarter ended December 2012. It was Rs 1,728 crore in the same period a year ago.

DLF, country's biggest developer, gained 2% after realty giant said it has sold the 150MW wind turbine project in Gujarat to Bharat Light and Power for Rs 282.30 crore as part of its strategy to exit from non-core businesses. 

The broader markets was fell with mid-caps and small-caps shedding 0.1-0.3% on BSE.

The market breadth was negative. Out of 2,803 stocks traded, 1,470 stocks declined compared to 1,157 advances on BSE.

Read more on:   
|
|
|
|
|
|

Read More

Markets post best gains in 3-months on Fed optimism

The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE

Quick Links

 

Market News

Restructuring should precede PSU disinvestment

The disinvestment target of the government for 2013-14 is Rs 58,000 cr

Kalyan Jewellers raises Rs 1,200 cr from Warburg Pincus

Company is said to have diluted around 10-12% stake to the PE firm

Pulse prices move up on lower kharif output estimates

Lower kharif production estimates fuel the rise; fall in global output also likely to keep prices up

UP sugar crisis defuses as mills ready to go for cane crushing

Private mills owe farmers Rs 2,500 crore in arrears for the earlier crushing season

FIIs hive off Nifty shares in different baskets

Foreign institutional investors (FIIs), the biggest shareholders outside the promoter group, pared their holdings in almost half of the Nifty ...

Back to Top