BSE Sensex tanks over 200 points ahead of CAD data, bank stocks decline

Sep 30 2013, 11:59 IST
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Sustained selling by participants ahead of the June quarter current account deficit data to be released later today dampens trading sentiments. Sustained selling by participants ahead of the June quarter current account deficit data to be released later today dampens trading sentiments.
SummaryThe 30-share index had lost 166.58 points in the previous session.

The BSE Sensex falls over 1 per cent on caution ahead of the April-June current account deficit, which is expected to have widened from the previous quarter.

The BSE Sensex is down 1.05 per cent and the NSE Nifty is lower 1.1 per cent.

Shares also track lower global shares as a shutdown of the U.S. government seemed increasingly likely, while the euro had political troubles of its own as the Italian government teetered on the edge of collapse.

Banking stocks fall on worries about higher non-performing loans and the possibility of RBI raising rates one more time with its new found focus on inflation, dealers say.

ICICI Bank falls 3.4 per cent, while State Bank of India (SBI) is down 2.4 per cent.

The benchmark index has gained nearly 6 percent so far in September, heading for its first positive monthly close since May, while rising 1.7 percent for the September quarter as of Friday's close.

in early trade, the benchmark S&P BSE Sensex declined by over 142 points as funds and retail investors indulged in reducing positions ahead of the current account deficit (CAD) data amid a weak trend in global markets.

The 30-share index, which had lost 166.58 points in the previous session, fell by another 142.04 points, or 0.72 per cent, to 19,585.23. Stocks of banking, realty, metal and oil and gas sectors led the fall.

Similarly, the National Stock Exchange index Nifty fell by 38.40 points, or 0.66 per cent, to 5,794.80.

Brokers said sustained selling by participants ahead of the June quarter current account deficit data to be released later today and a weak trend in Asian markets on concerns over a US budgetary impasse, dampened the trading sentiments here.

Among other Asian markets, Japan's Nikkei was down 2 per cent, while Hong Kong's Hang Seng shed 1.12 per cent in early trade.

The US Dow Jones Industrial Average ended 0.46 per cent down in Friday's trade.

From Vysya Bank, Kotak Mahindra Bank to Coromandel and more, here are the top stocks to watch on Indian stock markets:

ING Groep may sell 43 pct stake in Vysya Bank, Kotak Mahindra Bank Ltd emerges top suitor

Defence spectrum deal may prove a 3G bonanza for telcos like Bharti Airtel, Idea Cellular Ltd, Tata Communications Ltd, others

Coromandel to merge subsidiaries, share swap at 7:1

India to keep

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