Tuesday, 30 October 2012

Sensex flat; Rupee below 54/USD, BoI tanks 6% on poor nos

Sensex flat; Rupee below 54/USD, BoI tanks 6% on poor nos
Clean Media Correspondent

Mumbai, Oct 30 (CMC) The BSE Sensex was trading flat to negative following weak opening of European markets and sharp fall in Indian rupee. France's CAC, Germany's DAX and Britain's FTSE were down 0.3-0.6 percent owing to the hurricane emergency in the US.

The Indian rupee lost 47 paise to 54.03 against the US dollar. The 30-share BSE benchmark was down 15.57 points to 18,609.77 and the 50-share NSE benchmark fell 6.65 points to 5,657.65.

United Spirits plunged 13 percent while Kingfisher Airlines and United Breweries gained 4 percent after promoter Vijay Mallya told Reuters that he would not sell priced assets to save Kingfisher Airlines.

Shares of public sector lender Bank of India plunged 6 percent as rising provisions against bad loans dragged the net profit down by 38.5 percent in the second quarter of FY13.

Power equipment maker BHEL extended losses to 5 percent following dismal performance in the September quarter. Net profit fell by 9.77 percent year-on-year to Rs 1,274 during the quarter as against analysts' forecast of Rs 1,446 crore due to sluggish order book.

Commercial vehicle producer Tata Motors lost 2.7 percent and FMCG major Hindustan Unilever fell nearly 2 percent.

Shares of ICICI Bank, Larsen & Toubro, HDFC, TCS, Infosys and State Bank of India were down 0.2-0.8 percent. Sterlite Industries tumbled 2.5 percent.

But index heavyweight Reliance Industries continued to support the market, rising 1.5 percent. Telecom operator Bharti Airtel, cigarette major ITC and private sector lender HDFC Bank were up 0.4 percent.

Shares of Wipro and Hero Motocorp gained 2.5 percent while Mahindra & Mahindra and Tata Power rose over 1 percent.

Declining shares outnumbered advancing by a ratio of 813 to 601 on the Bombay Stock Exchange.

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