BSE Sensex, NSE Nifty, Indian rupee, Gold price on March 13, 2014

Thu Mar 13 2014, 19:17 hrs
Shares fell on Thursday as Infosys slumped after its chairman said revenue could grow at the lower end of guidance for this fiscal year, while Sun Pharmaceutical Industries dropped after a U.S. ban on some of the drug-maker's imports. Investors also booked profits in some of the recent outperformers that propelled indexes to record highs earlier this week, with some analysts voicing concerns about how fast shares have risen since last week.
Shares fell on Thursday as Infosys slumped after its chairman said revenue could grow at the lower end of guidance for this fiscal year, while Sun Pharmaceutical Industries dropped after a U.S. ban on some of the drug-maker's imports. Investors also booked profits in some of the recent outperformers that propelled indexes to record highs earlier this week, with some analysts voicing concerns about how fast shares have risen since last week.
After resuming lower, the Sensex recovered but traded in a narrow range on mixed Asian trends and better European opening. Towards the fag-end, IT stocks, particularly Infosys, came under severe selling pressure, pulling down the bellwether index to 21,774.61, a fall of 81.61 points from its previous close. The Sensex had closed at 21,513.87 points on March 6. The 50-share index Nifty of NSE also dropped 23.80 points to end at 6,493.10.
After resuming lower, the Sensex recovered but traded in a narrow range on mixed Asian trends and better European opening. Towards the fag-end, IT stocks, particularly Infosys, came under severe selling pressure, pulling down the bellwether index to 21,774.61, a fall of 81.61 points from its previous close. The Sensex had closed at 21,513.87 points on March 6. The 50-share index Nifty of NSE also dropped 23.80 points to end at 6,493.10.
A steep fall in software major Infosys Ltd pulled down the BSE benchmark Sensex by 82 points to one-week low of 21,774.61 at close today, notwithstanding firm European cues and signs of capital inflows. The Sensex had closed at 21,513.87 points on March 6.
A steep fall in software major Infosys Ltd pulled down the BSE benchmark Sensex by 82 points to one-week low of 21,774.61 at close today, notwithstanding firm European cues and signs of capital inflows. The Sensex had closed at 21,513.87 points on March 6.
Data late on Wednesday showed consumer price inflation eased more than-expected to a 25-month low of 8.10 percent in February, while industrial output unexpectedly expanded, albeit only by 0.1 percent.
The data cemented confidence about the economy, especially on the back of a sharply narrowing current account deficit, and raised expectations the Reserve Bank of India would keep interest rates on hold at its policy review on April 1.
Data late on Wednesday showed consumer price inflation eased more than-expected to a 25-month low of 8.10 percent in February, while industrial output unexpectedly expanded, albeit only by 0.1 percent. The data cemented confidence about the economy, especially on the back of a sharply narrowing current account deficit, and raised expectations the Reserve Bank of India would keep interest rates on hold at its policy review on April 1.
US dollar vs Indian rupee at 60.99/61.00 against its last close of 61.2150/2250, following lower-than-expected retail inflation data released on Wednesday with gains in the domestic share market also hurting sentiment for the pair.
US dollar vs Indian rupee at 60.99/61.00 against its last close of 61.2150/2250, following lower-than-expected retail inflation data released on Wednesday with gains in the domestic share market also hurting sentiment for the pair.
The Indian rupee was trading up 28 paise to 60.94 against the US dollar in morning trade on fresh selling of the American currency by banks and exporters in view of strong foreign capital inflows and firm local equity market. The rupee resumed higher at 61.01 per dollar as against the last closing level of 61.22 at the Interbank Foreign Exchange market. It improved further to 60.90 before quoting at 60.94 per dollar at 1035 hrs.
The Indian rupee was trading up 28 paise to 60.94 against the US dollar in morning trade on fresh selling of the American currency by banks and exporters in view of strong foreign capital inflows and firm local equity market. The rupee resumed higher at 61.01 per dollar as against the last closing level of 61.22 at the Interbank Foreign Exchange market. It improved further to 60.90 before quoting at 60.94 per dollar at 1035 hrs.
Gold price extended gains to a third session on Thursday, scaling fresh six-month highs as investors sought to hedge their bets against geopolitical tensions in Ukraine and economic slowdown fears in China. Gold is seen as a safe-haven asset during times of economic and political uncertainty, when the metal is preferred by investors over riskier assets such as equities. It has gained 14 percent so far this year on the global uncertainties.
Gold price extended gains to a third session on Thursday, scaling fresh six-month highs as investors sought to hedge their bets against geopolitical tensions in Ukraine and economic slowdown fears in China. Gold is seen as a safe-haven asset during times of economic and political uncertainty, when the metal is preferred by investors over riskier assets such as equities. It has gained 14 percent so far this year on the global uncertainties.
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...