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Nifty ends below 5900…SBI disappoints

India Infoline News Service/ 16:16 , Feb 14, 2013

Finally, BSE Sensex closed 19497, down 111 points over the previous close. It had earlier touched a day's high of 19639 and a day's low of 19444. It opened at 19626.

The Indian markets extended losses for second consecutive trading session on Thursday amid heavy selling in the Capital Goods, Oil & Gas, Auto, Power and the Realty sectors. The Mid-Cap and the Small-Cap stocks also continued to get hammered across the board losing 1.4% and 1.8% respectively.

SBI declined by 2% to close at Rs2206 after the bank posted disappointing results. The bank registered net profit of Rs33960.60mn for the quarter ended December 31, 2012 as compared to Rs. 32630.40mn for the quarter ended December 31, 2011. Total Income has increased from Rs. 297873.70mn for the quarter ended December 31, 2011 to Rs. 339921.10 million for the quarter ended December 31, 2012.

On the other hand, the CNX IT index extended gains for the second consecutive trading session after the industry body Association of Software and Services Companies (NASSCOM) forecasted strong growth for the sector in 2013-14 on Tuesday. Nasscom predicted that Indian IT industry is set to grow 12-14% to US$87bn in the period.
 
Infosys, TCS, Rolta, Polaris, and KPIT were among the top performers.
 
Better than expected January inflation data was also unable to lift the sentiment on Dalal Street. The annual rate of inflation, based on monthly WPI, stood at 6.62% (Provisional) for the month of January, 2013 (over January, 2012) as compared to 7.18% (Provisional) for the previous month and 7.23% during the corresponding month of the previous year. 
 
Shares of Siemens and Wipro ended lower by 5% and 3.5% respectively after exclusion from NSE Nifty index.
 
The two scrips which replaced Siemens and Wipro was the state run mining corporation NDMC and Raheja group promoted IndusInd bank. NDMC ended gained 1% while IndusInd bank ended almost unchanged.
 
Finally, BSE Sensex closed 19497, down 111 points over the previous close. It had earlier touched a day's high of 19639 and a day's low of 19444. It opened at 19626.
 
The NSE Nifty closed at 5,897, down 36 points over the previous close. It earlier touched a day’s high of 5,940 and a day’s low of 5884. It opened at 5,933.
 
Infosys, TCS,  Tata Power, Tata Steel, HDFC Bank, HUL, Sun Pharma, ITC, HDFC, NTPC and M&M were among gainers in Sensex and Nifty. 
 
RIL, Wipro, Hero MotoCorp, ONGC, Bajaj Auto, Bharti Airtel, ICICI Bank, Dr Reddys Lab,  Tata Motors, Maruti Suzuki, Sterlite Inds and SBI were among losers in Sensex and Nifty.
 
The advance decline ratio was in favour of the bears. 1475 stocks declined against 649 advancing stocks. Only 837 stocks remained unchanged.
 
The INDIA VIX on NSE was down 0.33% to end at 15.09. It hit a day’s high of 15.52 and day's low of 14.67.
 
Stocks which hit 52-week high during the week were Blue Blend India, Shree Mfg, Rutron Intl, Turbotech Engr and Westlife Dev.
 
Stocks which hit 52 week low during the week were ABB, Banco Products, BEML, Bhansali Engr and Bihar Sponge.
 

Stocks in News
 
Tata Motors declined by 3% to close at 295 after the company has posted a net loss of Rs(4584.90)mn for the quarter ended December 31, 2012 as compared to net profit of Rs. 1736.7mn for the quarter ended December 31, 2011. Total Income has decreased from Rs. 134704.8mn for the quarter ended December 31, 2011 to Rs. 107418.9mn for the quarter ended December 31, 20

Shares of LIC Housing Finance slumped by over 6% to close at Rs251 after the Company posted a net profit of Rs. 2362.462 million for the quarter ended December 31, 2012 as compared to Rs. 3056.936 million for the quarter ended December 31, 2011. Total Income has increased from Rs. 15925.397 million for the quarter ended December 31, 2011 to Rs. 19549.626 million for the quarter ended December 31, 2012.

Aditya Birla Nuvo gained by 1% to close at 1057. The company announced that it has posted a net profit after taxes and Minority Interest of Rs. 3232.10 mn for the quarter ended December 31, 2012 as compared to Rs. 2523.90 mn for the quarter ended December 31, 2011. Total Income has increased from Rs. 58020.70 mn for the quarter ended December 31, 2011 to Rs. 63961.70 mn for the quarter ended December 31, 2012.

 



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