BSE Sensex hit by drop in ICICI Bank, Reliance Industries share prices

Jan 06 2014, 19:12 IST
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BSE Sensex hurt by drop in ICICI Bank Reliance Industries share prices. (AP) BSE Sensex hurt by drop in ICICI Bank Reliance Industries share prices. (AP)
SummaryBSE Sensex suffers as ICICI Bank, Reliance Industries share prices fall.

6.08 billion rupees ($97.7 million) worth of index futures and 180 million rupees worth of cash shares on Friday.

Among the blue chip shares, ICICI Bank Ltd fell 2.4 percent, while Reliance Industries Ltd ended down 1.1 percent.

In state-owned large cap banks, State Bank of India fell 1.8 percent while Bank of Baroda Ltd ended 1.9 percent lower. Larsen and Toubro Ltd fell 0.2 percent, losing for a fourth consecutive session, with a total decline of 5.6 percent, on concerns that the company's new orders are slowing down, dealers say. Infosys Ltd fell 1.3 percent after making a record high at 3,580.50 rupees on profit-taking and caution ahead of its October-December results on Friday.

Power producers fell on media reports that the state government in Maharashtra, home to Mumbai, is planning to cut power tariffs.

Tata Power Co Ltd fells 2.6 percent, while Reliance Infrastructure Ltd ended lower 0.5 percent. However, among stocks that gained, Lupin Ltd gained 0.6 percent, adding to Friday's 3 percent rise on hopes of regulatory approval for its request for permission to raise its foreign investor stake.

The Foreign Investment Promotion Board is due to meet this week and dealers cite expectations the regulator could consider Lupin's proposal.

FACTORS TO WATCH

* Yen pulls away from lows as stocks fall

* Oil recovers over $107 after Libya oilfield restart

* Asian shares tumble to 3-week low on China PMI

* Foreign institutional investor flows

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