- Sensex sheds 65 pts, Nifty 22 on weak Asia - stocks to watch: Godrej Industries, JSW SteelBSE Sensex recovers 51 points, Nifty up by 14 pts, stocks to watch: Cadila, HindalcoBSE Sensex plunges to lowest point in 2013 after 7-day losing streakBSE Sensex, Nifty hit 2013 lows as shares continue southward journey
Erasing early gains, the BSE benchmark Sensex lost 17 points in the late morning trade due to selling in FMCG, capital goods, refinery and technology sector stocks despite sustained foreign capital inflows. The NSE 50-share Nifty also moved down by 9.20 points or 0.16 per cent to 5,894.30 at 1030 hours.
Nifty traded below 5,900-mark for the first time in 2013.
The 30-share index resumed higher at 19,517.59 and firmed up further to 19,543.44 on fresh buying from operators on the back of foreign capital inflows.
However, it declined afterwards to 19,450.47 on profit-booking before quoting at 19,468.20 at 1030hrs, showing a loss of 16.57 points, or 0.09 per cent, from its last weekend's close.
Major losers were ITC (1.52 per cent), Bharti Airtel (1.20 per cent), Hero Motocorp (1.01 per cent), ONGC (0.99 per cent) and HDFC (0.90 per cent).
Foreign institutional investors bought shares worth net Rs 1,490.82 crore on last Friday as per provisional data from the stock exchanges.
In Asia, stock markets in Hong Kong, mainland China, Taiwan, Singapore, South Korea and Malaysia were all closed today for the Lunar New Year, while Japan market was closed for National Foundation Day.
MARKET EYE-Indian shares fall; ITC, ICICI Bank decline
(Reuters) The BSE Sensex index is down 0.09 percent and the 50-share NSE index is also down 0.15 percent.
* With the Lunar New Year holiday shutting most Asian financial centres, including those in Japan, China, Hong Kong, Singapore and South Korea, trading was light and potentially volatile on those exchanges that remained open.
* ITC falls 1.6 percent on profit-taking, while banking stocks such as ICICI Bank fell on continued concerns on India's economic growth after government estimates on Friday showed India's FY13 growth could be worse than expected.
* Traders say chances of a relief rally look bright as India's benchmark index fell for a seventh day to mark its biggest losing streak since November, 2011, on Friday.
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange fell 0.05 percent. The MSCI-Asia Pacific index, excluding Japan was down 0.1 percent.
* With the Lunar