Thursday, 7 November 2013

Sensex, Nifty down; IT, teck scrips gain

Some buying activity is seen is IT, teck and metal sectors on BSE, while consumer durables, power, realty, banking and PSU sectors are losing sheen

At 2:35 PM, S&P BSE Sensex is 20,830 down 64 points, while CNX Nifty is at 6,190 down 24 points.

BSE Mid-cap is at 6,236 down 50 points, while BSE Small-cap is at 6,046 down 52 points.

Some buying activity is seen is IT, teck and metal sectors on BSE, while consumer durables, power, realty, banking and PSU sectors are losing sheen.

Tata Steel, Infosys, Hindalco, TCS, Bajaj Auto, SSLT. HUL, Sun Pharma and Hero MotoCorp are up on BSE, whereas BHEL, Tata Motors, SBI, ICICI Bank, Tata Power, Bharti Airtel, RIL and Jindal Steel are showing some weakness.

Larsen & Toubro said that its subsidiary L&T Construction has won orders worth Rs. 23.09 billion. L&T is 0.12% down on BSE.

Bajaj Electricals gained 2.37% on the news that its Engineering & Project Business Unit has bagged Power Distribution Projects worth Rs. 7.57 billion under RGGVY (Rajiv Gandhi Gramin Vidyutikaran Yojna) Scheme.

Ashok Leyland is 3.95% down on BSE on the news that the company has reported a net loss of Rs. 250.54 million for the quarter ended September 30, 2013 against net profit of Rs. 1.43 billion for the quarter ended September 30, 2012.

Raymond plans to increase its exports four-fold in the next five years to seek growth as the domestic market faces a relative slowdown. Raymond is 0.98% down on BSE.

Essar Ports is 1.99% down on BSE on the news that the company has failed to qualify for the Rs. 80 billion fourth container terminal bid at Jawaharlal Nehru Port Trust.

Bajaj Auto reported a 4% decline in motorcycle sales at 348,323 units in October. In the commercial vehicles category, the company said its sales stood at 37,000 units against 50,316 units in the corresponding month last year, down 26%. The scrip is 1.09% up on BSE.

The Telecom Commission has proposed raising the base price of spectrum in the 1800 Mhz band by more than 15% over what the sector regulator had suggested, and in the 900 Mhz by around 25%, though the starting levels still remain sharply lower than those in the past two auctions.

The Reserve Bank said it has received $15.2 billion so far from the special swap windows opened to attract FCNR-B deposits as well the special ECB window facility for banks.

Nikkei closed 108 points down at 14,228, while Hang Seng closed 155 points down at 22,881.

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