BSE Sensex falls 16 pts, Infosys share price up ahead of earnings

Jan 09 2014, 18:18 IST
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Trading in a narrow 125-point zone, BSE Sensex index rose to a high of 20,778.13 and a low of 20,652.69 during the session. (Reuters) Trading in a narrow 125-point zone, BSE Sensex index rose to a high of 20,778.13 and a low of 20,652.69 during the session. (Reuters)
SummaryBSE Sensex records sixth decline in seven sessions, bust Infosys share price buoyant.

in the company by foreign institutional investors had reached the prescribed limit.

Biocon Ltd fell 2.4 percent after brokerage CLSA downgraded the stock to 'sell' from 'outperform' citing a run-up in valuations.

HCL Infosystems Ltd fell 4 percent, Aban Offshore Ltd ended 3.6 percent lower and Opto Circuits (India) Ltd lost 2.2 percent after index compiler FTSE removed them from its Global Equity Index series.

However, software stocks rose a day ahead of bellwether Infosys' October-December earnings.

Infosys gained 0.7 percent, Tata Consultancy Services Ltd rose 0.4 percent while HCL Technologies Ltd surged 3.2 percent.

Gold-based lenders also surged to their maximum daily limit after India's central bank on Wednesday relaxed gold lending rules.

Muthoot Finance Ltd surged 20 percent, while Manappuram Finance Ltd jumped 19.8 percent.

FACTORS TO WATCH

* Dollar index buoyant near seven-week high; ECB eyed

* Oil up towards $108 on as caution on Libya prevails

* Asian shares ease, dollar firms; US jobs in focus

* Foreign institutional investor flows

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