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BSE Sensex trims initial losses, ICICI Bank gains ahead of quarterly results

Oct 25 2013, 11:51 IST
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Ssustained selling by participants at prevailing levels amid a weakening trend on other Asian bourses have led to fall in stock prices. Ssustained selling by participants at prevailing levels amid a weakening trend on other Asian bourses have led to fall in stock prices.
SummaryIn the past three sessions, Sensex had lost nearly 169 points.

The BSE benchmark Sensex trimmed its early losses but was still down by 17 points in late morning trade today on mild selling pressure in capital goods, metal, realty and auto sectors on weak Asian cues.

The 30-share index Sensex resumed steady at 20,725.52, but dropped to 20,645.00 immediately on initial profit booking. However, it recovered afterwards to 20,733.82 on sustained foreign capital inflows before quoting at 20,707.94 points (1030 hours).

It still showed a loss of 17.49 points or 0.08 per cent from its last close.

The NSE 50-share barometer Nifty also moved down by 15.05 points, or 0.24 per cent, to 6,149.30 at 1030 hours.

Major losers were - Hindalco Industries Ltd (3.62 pct), Bharat Heavy Electricals Ltd (BHEL) (2.75 pct), Tata Steel (2.09 pct), Larsen & Toubro (1.82 pct) and Bharti Airtel (1.82 pct).

However, gainers were Wipro (2.19 pct), Tata Consultancy Services (TCS) (1.68 pct), SSLT (1.59 pct), Infosys (0.76 pct) and ICICI Bank(0.59 pct), Which will declare its September quarter earnings today.

Asian markets declined as forecasts from Canon Inc to Posco disappointed investors.

Key benchmark indices in Taiwan, Hong Kong, China, Singapore, Japan, Indonesia and South Korea fell by 0.12 to 1.19 per cent.

Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 991.83 crores yesterday, as per provisional data from the stock exchanges.

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