Sensex declines marginally ahead of Inflation data
The sensex resumed higher at 19,626.81 and firmed up further to a high of 19,639.83 on sustained buying on the back of higher Asian cues coupled with persistent capital inflows from foreign funds into equity market.
However, it declined afterwards to 19,587.48 on mild selling before quoting at 19,589.42 at 1030hrs, showing a net loss of 18.66 points or 0.10 per cent from its last close.
The NSE 50-share Nifty also moved down by 8.65 points or 0.15 pct to 5,924.30 at 1030 hrs.
Major losers were Maruti Suzuki (2.99 pct), Bharti Airtel (2.49 pct), Wipro (2.27 pct), Tata Power (2.23 pct), Reddy's Lab 2.15 pct and SBI (1.86 pct).
Foreign institutional investors bought shares worth net Rs 800.31 crore yesterday as per provisional data from the stock exchanges.
Asian stocks rose in the early trade as investors awaited the G20 meeting of finance and central bank officials over the weekend for clues to their views about global growth and the role currencies play in the economies of individual member countries.
Key benchmark indices in Hong Kong, Indonesia, Japan, and South Korea rose by 0.21 per cent to 0.89 per cent while Singapore's Straits Times fell 0.21 per cent.
Stocks More on Wipro Ltd
Company INFO More on Maruti Suzuki India
Stocks to watch-Feb 14
(Reuters): Nifty futures on the Singapore Exchange was 0.11 percent up. The MSCI-Asia Pacific index, excluding Japan was 0.62 percent higher.
Asian shares rose ahead of the G20 meeting of finance and central bank officials over the weekend.
U.S. stocks drifted in light volume on Wednesday, ending little changed, as investors remained cautious after the S&P 500 index briefly hit its highest intraday level since November 2007.
FACTORS TO WATCH
January WPI inflation (around 0600 GMT).
Earnings: State Bank of India, Tata Motors Ltd , Dr. Reddy's Laboratories Ltd, DLF Ltd.
The Indian government is likely to target 400 billion rupees ($7.42 billion) in proceeds from stake sales in state-run companies in the next fiscal year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday. The Indian government is likely to allocate 200 billion rupees ($3.71 billion) for capital infusion in state-run banks in the next financial year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday.
India's capital markets regulator ordered a freeze on the assets and bank accounts of two Sahara Group companies, saying they failed to heed a Supreme Court order to repay billions of dollars collected from investors in outlawed bonds.
Tata Steel Ltd posted its second straight quarterly loss on Wednesday, as weak demand and prices in its main European market squeezed margins.
Coal India Ltd posted a 9 percent increase in quarterly profit, beating market estimates, as strong sales volumes offset rising costs.
Bharat Petroleum Corp Ltd's October-December net profit fell 47.5 percent to 16.48 billion rupees from a year ago.
Indian Oil Corp Ltd will review diesel prices on Friday or Saturday, chairman R.S. Butola said.
India will ensure its refiners have insurance for plants that run crude from Iran, a government source said on Wednesday, allaying fears that imports from the sanctions-hit country may have to be halted.
Shriram Group is in advanced talks with Citigroup Venture Capital and Blackstone Group LP to raise 5.38 billion rupees ($100 million) for its cement business - Sree Jayajothi Cements, Business Standard reported citing unidentified senior Shriram Group officials.
GMR Infrastructure Ltd said it would sell a 74 percent stake in GMR Jadtcherla Expressways to Macquarie SBI Infrastructure Fund for 2.06 billion rupees.
The telecom department has issued notices to the country's three top operators - Vodafone India, Bharti Airtel Ltd and Reliance Communications Ltd - demanding that they pay an additional revenue share for spectrum usage from 2008 onwards.
Wockhardt Ltd may have to withdraw certain batches of pain relief medicine Brexic DT, which it markets in India, following a recent alert issued by the Drugs Controller General of India (DCGI), a senior DCGI official said.
Educomp Solutions Ltd Oct-Dec net profit down 73.28 percent to 65.7 million rupees from 245.9 million rupees a year ago as net sales drops 32.33 percent to 2.47 billion rupees from 3.65 billion rupees a year earlier.
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