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Quick view: IT stocks drag Sensex down 132 points

The Sensex fell 132 points, the most this month, dragged down by IT stocks

The Sensex fell 132 points, the most this month, dragged down by IT stocks as investors shrugged off a deal reached by US lawmakers to end the government shutdown and increase the debt ceiling. Optimism generated after the US averted the debt crisis for a few months was tempered by the World Bank?s sharply lower growth estimate of 4.7% for the Indian economy. TCS, Infosys and Wipro were among the shares that dragged the Sensex lower on profit booking, while heavyweights ITC, RIL and ONGC supported it.

MF accounts decline by 15 lakh during Apr-Sept

Mutual funds have lost an estimated over 15 lakh investors, measured in terms of individual accounts or folios, in the first six months of the current fiscal, mainly due to profit booking and various merger schemes. According to Sebi?s data on total investor accounts with 44 fund houses, the number of folios fell to around 4.13 crore at the end of September 2013 from 4.28 crore in FY13. During April-September 2013, the number of investor folios for equity schemes fell by over 20 lakh. The total number of folios in equity funds were 3.11 crore by the end of September against 3.32 crore by March-end.

Fundraising via rights issue drops 68% in H1

Fundraising by Indian companies through rights issues plunged by 68% to R2,166 crore in the first half of the current fiscal. According to a report by Prime Database, companies mopped-up R2,166 crore in April-September period of 2013-14, lower than R6,749 crore raised in the corresponding period of the preceding fiscal year. In the six-month period ended September 30, nine companies used the rights route to raise funds compared to 10 firms in the year-ago period.

South Indian Bank posts 30.5% rise in Q2 net

South Indian Bank reported on Thursday a 30.5% growth in its net profit for the second quarter of FY14. Net profit stood at R126.76 crore against R97 crore in the year-ago period. Net interest income grew at a healthy pace of 22% y-o-y, while the net interest margin stood above 3%. Net NPA, however, rose to 1.39 % from 0.86% in theQ2FY13.

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First published on: 18-10-2013 at 02:42 IST
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