Sensex down around 60 points; Maruti Suzuki gains

Reuters Market Eye - The Sensex is down 0.35 percent and the Nifty is down 0.4 percent. The falls track lower global shares ahead of pivotal monthly U.S. payrolls data due later in the day.

Recent foreign funds selling in stocks have sparked concerns of a wider pullback of flows from overseas investors who have already pumped in over $10 billion so far this year.

United Spirits shares fall 3.7 percent after UK drinks group Diageo Plc opted not to lift its offer price of 1,440 rupees as it looks to raise its stake in the company. (Read full story http://in.reuters.com/article/2013/04/05/unitedspirits-diageo-idINDEE93402M20130405)

Bharti Airtel Ltd shares down 2.25 percent after a panel of judges at 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, Maruti Suzuki India rises 8 percent following a depreciation in the yen, which will boost its earnings by reducing the costs of imports from Japan after the BOJ unleashed the world's most intense burst of monetary stimulus on Thursday.

Reliance Industries gains 1.4 percent, recovering from recent falls on attractive valuations and hopes January-March earnings will improve, led by better margins in refining and petrochemical sectors.

(Reporting by Manoj Dharra)