Sensex opens 88 pts down, extends losing streak, Kingfisher Airlines eyed
The 30-share barometer fell by 88.49 points, or 0.44 per cent, to 19,662.70.
The index had lost nearly 254 points in the past three sessions.
Stocks of realty, capital goods, metal, auto, power and banking sectors declined due to profit-booking.
Similarly, the wide-based National Stock Exchange index Nifty fell by 39.35 points, or 0.65 per cent, to 5,947.90.
Brokers said a weak trend in the Asian trade following overnight losses on the US market on weak data, spurring selling, dampened the trading sentiment here.
In the Asian region, Japan's Nikkei Index was down 1.27 per cent, while Hong Kong's Hang Seng index shed 1.66 per cent in early trade.
The US Dow Jones Industrial Average ended 0.93 per cent down in yesterday's trade.
Stocks to watch-Feb 5
(Reuters): Global markets round up
Nifty futures on the Singapore Exchange fell 0.5 percent. The MSCI-Asia Pacific index, excluding Japan fell 0.8 percent.
Asian shares slid on Tuesday as investors saw opportunities to cash in from recent strong rallies in the face of weak U.S. data and worries that a potential political shake-up could disrupt the eurozone's efforts to resolve its debt crisis.
U.S. stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.
FACTORS TO WATCH
Earnings: UCO Bank, United Breweries Holdings Ltd.
A panel of ministers headed expected to meet to set the date and floor price of the government's 9.5 percent stake sale in NTPC Ltd.
HSBC Markit services PMI (0500 GMT)
India needs to commit to its recent reform measures and meet its fiscal deficit targets, Fitch Ratings said on Monday, putting further pressure on a government keen to retain investment grade ratings.
Kotak Mahindra Bank Ltd and Saxo Bank are independently looking to buy a significant stake in online brokerage firm Sharekhan and are in talks with private equity owners CVCi International and Barings Asia, two people familiar with the development said.
A new steel policy for India is likely to be announced in a month, ironing out issues related to foreign direct investments, land acquisitions and environment clearances a senior steel ministry official said.
GVK Infrastructure and Singapore-based Changi Airports International are back at the negotiating table for a minority stake in the Indian company's airport business, said multiple sources aware of the development, nine months after talks broke off between the two sides.
Power Finance Corporation Ltd says it has not decided whether to take any stake in banks so far, although it is exploring the possibility.
Rural Electrification Corp Ltd's October-December net profit rose 33.4 percent to 10.27 billion rupees from a year ago.
Escorts Ltd's October-December net profit rose three-fold to 281.4 million rupees from 90.7 million rupees a year earlier.
Workers at Hero MotoCorp Ltd's Gurgaon plant as workers are considering going in an indefinite hunger strike within the factory premises if their demands for higher wages are not met, according to unidentified workers.
United Spirits Ltd's October-December net profit rose 71.16 percent to 805.5 million rupees from a year ago.
Nestle India Ltd says it bought 26 percent minority stake in Indocon Agro and Allied Activities Private Ltd.
Global consumer confidence dipped at the end of last year, a survey showed on Monday, although India remained the most optimistic consumer market globally for a second straight quarter.
Kingfisher Airlines Ltd posted a 7.55 billion rupees ($142 million) loss in the three months to Dec. 31 as its planes sat idle, creditors circled and regulators rebuffed the Indian airline's revival plans.
Separately, the employees of grounded Kingfisher Airlines on Monday decided to move court to wind up the company and recover their salary dues.
Jet Airways India Ltd plans to increase capacity by 10-12 percent by next year and will add around six narrow-bodied aircraft in addition to 12 B-777 planes by the end of the next third or fourth quarter, Chief Commercial Officer Sudheer Raghavan said.
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