Sensex declines 8 points; RIL gains on fresh buying

The BSE benchmark Sensex today closed eight points down on subdued buying by funds

RELATED ARTICLES

ahead of Union Budget.

The Sensex ended lower by 8.35 points, or 0.04 per cent, to 19,317.01. The gauge moved between 19,401.75 and 19,289.83 during the session. The index had dropped 317 points in the previous session.

Similarly, the broad-based National Stock Exchange index Nifty fell by 1.95 points, or 0.03 per cent, to 5,850.30. It moved between 5,873.80 and 5,835.80 druing the session.

Brokers said the market participants were cautious ahead of the general budget this month-end and refrained from enlarging their positions.

They said the market was partly supported on mixed pattern of trade in global markets and an upsurge in market-heavy Reliance Industries on reports the company with its Russian partner starting butyl rubber plant in Gujarat.

The RIL stock rose 0.69 per cent to Rs 862.65 and second heavy Infosys rose by 1.06 per cent to Rs 2,836.55. The two carry nearly 16 per cent weightage on the Sensex. Another index-kitty stock Bharti Airtel surge 4.64 per cent to Rs 309.80 on company bond-sale plans.

HDFC Ltd fell by 1.84 per cent to Rs 800.35 on Goldman Sachs downgrading the stock, while ITC fell by 1.50 per cent to Rs 292.05 on fears of hike in excise duty in the budget.

In 30-BSE index components, 15 stocks declined led by Coal India, Maruti Suzuki, Tata Motors, HDFC Bank, Hindustan Unilever, State Bank of India and Hero MotoCorp.

Markets @ 09.00 AM (Reuters)

The BSE Sensex falls 0.09 percent, while the 50-share Nifty is down 0.19 percent. Infosys gains 1.27 percent, while Tata Consultancy Services is up 0.7 percent on hopes of incentives for exporters in the 2013/14 budget to be unveiled on February 28.

However, shares in Housing Development Finance Corp Ltd fall 2.85 percent after Goldman Sachs cut its rating to "sell" from "neutral", on expectations that Asia's third-largest economy would recover at a "modest" pace and the prospect of rising competition.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • It will take at least 4 more quarters for corporate bottomlines to turn around

    Aggregate numbers from corporate results in the June quarter of 2014-15 are hardly different from the previous six quarters, with no positive surprise

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Dealing with a sin called insensitivity

Rage and the notion of being above the law — ...

Kuruvilla Pandikattu SJ

India’s greatest gift to the world

What we hear most often about India these days is ...

Gautam Gupta

Why must innerwear be our best kept secret?

While women’s outerwear rules the marketing roost in India, unfortunately, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture