Sensex regains losses; L&T, RIL, Infosys, Bharti lead

Posted By: Religare
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Sensex regains losses
Bombay:The domestic bourses were seen hovering across the 5,100 Nifty mark after witnessing a sharp decline post RBI policy announcement. The country"s central bank raised its key rate for the 13th time in last 18 months by 25 bps. The move was followed by a hefty sell off in country"s largest bank, the SBI (3.45%), which was already struggling with the NPA and capital adequacy issues. Further, HDFC bank plunged by over 6% dampening the sentiment. The overall market breadth continued to remain weak as 1,464 stocks were declining while 934 stocks advanced and 108 remained unchanged on BSE.

At 12:29PM BSE SENSEX was at 16957.38 up by 18.10 points or by 0.11% and the NSE Nifty was at 5096.80 down by 1.55 points or by 0.03%.

The BSE MIDCAP was at 6068.41 down by 23.37 points or by 0.38%, while the BSE SMALLCAP was at 6770.48 down by 35.20 points or by 0.52%.

The top losers of the BSE Sensex pack were HDFC Bank Ltd. (Rs. 454.10,-6.20%), State Bank of India (Rs. 1841.70,-3.45%), ICICI Bank Ltd. (Rs. 857.70,-1.33%), Bharat Heavy Electricals Ltd. (Rs. 314.85,-1.10%) and DLF Ltd. (Rs. 226.25,-0.81%), among others.

The BSE Bankex was at 10781.59 down by 270.83 points or by 2.45%. The major losers were HDFC Bank Ltd. (Rs. 454.10,-6.20%), Axis Bank Ltd. (Rs. 1124.95,-3.74%), State Bank of India (Rs. 1841.70,-3.45%), Bank of Baroda (Rs. 711.20,-3.40%) and Punjab National Bank (Rs. 938.00,-3.39%).

In the macroeconomic front, the Reserve Bank of India has raised its key rates for the 13th time in last 18 months by 25 bps. Post hike, the repo rate stood at 8.50%, whereas the reverse repo rate stood at 7.50%.

The leading Asian bourses were trading on a mixed note. The major indices like Hang Seng, Shanghai Composite and Taiwan Weighed increased by 0.48%, 1.63% and 0.28%, respectively. On the flipside, the Nikkei225 and Seoul Composite declined by 0.92% and 0.51%, respectively.

In the corporate front, shares of Patni Computer Systems Ltd surged by 1.73% at Rs. 337.30, after the company reported that the Mosaic company and iGATE Patni has strengthened partnership with global service desk deal".

Read more about: sensex, nifty, capital market
Story first published: Tuesday, October 25, 2011, 14:20 [IST]
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