BSE Sensex falls 36.21 pts, Sesa Sterlite share price biggest loser, Maruti Suzuki tops as gainer

Jan 29 2014, 21:17 IST
Comments 0
BSE Sensex falls over 36 points to close at 20,647.30. (PTI) BSE Sensex falls over 36 points to close at 20,647.30. (PTI)
SummaryBSE Sensex index falls for fourth session even as ICICI Bank shares plunged post-results.

when emerging markets were under pressure, but stock investors are concerned about its potential impact on economic growth.

Overseas investors have sold shares worth $452 million since Thursday's close amid turmoil in emerging markets.

Volumes on the benchmark BSE index sank to the lowest in four days, with caution also prevailing ahead of the conclusion of the United States Federal Reserve's policy meeting later in the day.

The Fed is widely expected to continue reducing its monthly bond purchases by $10 billion a month.

"I think the decision on tapering is crucial for global markets including India. $5-10 billion is okay but anything beyond that would be a shock for us," said Sudip Bandyopadhyay, managing director at Destimoney Securities Pvt Ltd.

The broader NSE index lost 0.1 percent, or 6 points, to end at 6,120.25, its lowest close since Nov. 28.

The BSE index fell 0.18 percent, or 36.21 points, to end at 20,647.30, extending its losing streak for a fourth consecutive session.

ICICI Bank Ltd fell 1.7 percent after its chief executive officer said she expects addition in bad loans and restructured debt to continue in the coming quarters.

The bank's December-quarter net non-performing loans rose to 0.94 percent versus 0.76 percent a year ago.

Among other financial stocks, Housing Development Finance Corporation Ltd fell 0.7 percent while State Bank of India Ltd ended 1.4 percent lower.

Bharti Airtel Ltd lost 1.3 percent, having earlier risen as much as 2.86 percent, after October-December voice minutes on its India mobile network grew 1.47 percent quarter-on-quarter, lagging some analysts' expectations.

Sesa Sterlite fell 3.2 percent after the company reported December-quarter net profit of 18.68 billion rupees, which lagged some analysts expectations.

Among stocks that gained, Maruti Suzuki India Ltd rose 6.9 percent, recovering from an 8.2 percent drop on Tuesday due to concerns about Suzuki Motor's plans to invest $488 million to build a car plant in India's Gujarat state.

Havells India Ltd rose 3.3 percent after the company said its December-quarter net profit rose 28.3 percent to 1.21 billion rupees.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...