*
195
California governor debate turns into verbal brawl
*
74
Republicans to take House at midterm vote: Reuters/Ipsos poll
*
70
Obama administration appeals ruling backing gay marriage
Profit-taking clips Indian shares; Infosys shines
Infosys Technologies Limited
INFY.BO
Rs3,184.25
+33.05+1.05%
2:51pm GMT+0530
Larsen & Toubro Limited
LART.BO
Rs2,012.95
-66.30-3.19%
2:55pm GMT+0530
ICICI Bank Limited
ICBK.BO
Rs1,139.10
-21.00-1.81%
2:51pm GMT+0530
Thu Oct 14, 2010 6:27am EDT
* Sensex drops 0.9 pct after hitting 33-month high
* Foreign buying remains strong; index 700 pts from record
* Infosys touches all-time high ahead of qtrly result
(Updates to close)
By Ami Shah
MUMBAI, Oct 14 (Reuters) - Indian shares fell 0.9 percent
on Thursday as investors locked in profits after the main index
climbed to a 33-month high in early trade, but the undertone
remained upbeat on sustained foreign buying.
Outsourcers mostly rose with bluechip Infosys Technologies
(INFY.BO), the No.2 software services exporter, climbing to an
all-time peak ahead of quarterly earnings due before the market
opens on Friday.
Engineering and construction conglomerate Larsen & Toubro
(LART.BO), ICICI Bank (ICBK.BO), State Bank of India (SBI.BO),
HDFC Bank (HDBK.BO) and Housing Development Finance Corp
(HDFC.BO) shed ground after posting big gains this year.
"Some profit booking was expected after such a run up, but
there is no big concern in the market for now," said Neeraj
Dewan, director of Quantum Securities.
The 30-share BSE index .BSESN closed down 0.92 percent,
or 190.24 points, at 20,497.64 points, with 25 of its
components losing ground.
It had hit 20,854.55 early, just around 350 points from a
record high of 21,206.77 reached on Jan. 10, 2008.
Citigroup estimated companies, excluding oil firms, in the
index would post annual earnings growth of more than 40 percent
this year, with quarter-on-quarter rise of 9 percent.
"India's 2QFY11 should be making headlines and hitting
highs," it said in a note dated Oct. 7.
Foreign funds have invested a record $21.8 billion in
Indian equities so far this year, and helped the benchmark
index rise 17.4 percent.
Infosys gained as much as 2.4 percent to a record high of
3,228 rupees while smaller rival Wipro (WIPR.BO) firmed as much
as 3.6 percent to 499.90 rupees, its highest in a decade.
Brokerages expect Infosys will raise its outlook for dollar
revenue growth to 21-24 percent for this fiscal year from 19-21
percent forecast in July. [ID:nSGE6970ET]
The banking sector index .BSEBANK shed 1.1 percent, but
is still up 42.8 percent in the year to date.
State Bank of India dropped 1.3 percent, while ICICI Bank
and HDFC Bank declined 1.8 percent and 0.9 percent
respectively. HDFC shed 1.1 percent.
Larsen & Toubro dropped 3.2 percent, after rising 4 percent
in the previous session.
Provisional data showed declining shares outnumbered
advancing ones in a ratio of 1.6:1 on relatively heavy volume
of 647 million shares.
The 50-share NSE index .NSEI closed 0.9 percent lower at
6,177.35 points.
MSCI's all-country world index .MIWD00000PUS firmed 0.7
percent at 1013 GMT, while MSCI's emerging market benchmark
.MSCIEF was trading 0.9 percent higher.
STOCKS THAT MOVED
* Software services firm Mastek (MAST.BO) fell 3.3 percent
to 235.85 rupees after it posted a surprise loss in the
September quarter, hurt by lower development revenue from a
major client and annual wage hikes. [ID:nSGE69D07O]
* Infotech Enterprises (INFE.BO) shed 7.6 percent to 174.75
rupees as the engineering software services provider said its
July-September net profit dropped 6.6 percent. [ID:nBMB011602]
* LIC Housing Finance (LICH.BO) gained nearly 1 percent to
1,458.05 rupees as the mortgage lender posted a
forecast-beating 36 percent rise in quarterly net profit.
[ID:nBMB011598]
* Road builder Ashoka Buildcon ABDL.BO closed up 2.9
percent at 333.35 rupees on market debut, compared with the
issue price of 324. [ID:nMBI000067]
* Bedmutha Industries BMIL.BO, a steel wire manufacturer
in western India, gained 77.3 percent on debut to 180.80 rupees
from its issue price of 102. [ID:nWNAS9693]
FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bonds report
[IN/]
* Dlr falls to fresh 15-yr lows vs yen, below 81 yen
[FRX]
* Oil nears five-month high as commodities rally
[O/R]
* US dollar drops on Singapore action, gold climbs
[MKTS/GLOB]
* U.S. stock index futures up; all eyes on dollar
[.N]
* For closing rates of Indian ADRs
INADR
(Editing by Ranjit Gangadharan)
Read
1. Yahoo shares surge on prospect of buyout | Video
2:10pm EDT
2. September home foreclosures top 100,000 for first time
12:59pm EDT
3. U.S. is currency war's "tomb maker": China economist
6:39am EDT
4. Singapore move hits dollar, India intervenes
9:58am EDT
5. Jobless claims point to further Fed easing
1:59pm EDT
Discussed
*
195
California governor debate turns into verbal brawl
*
74
Republicans to take House at midterm vote: Reuters/Ipsos poll
*
70
Obama administration appeals ruling backing gay marriage
Watched
*
Red faces over top model gaffe
Red faces over top model gaffe Tue, Sep 28 2010
*
Banksy takes on the Simpsons
Banksy takes on the Simpsons Tue, Oct 12 2010
*
From the mine to the minefield
From the mine to the minefield Wed, Oct 13 2010
Broker Center Special Advertising Feature
Click Here
Profit-taking clips Indian shares; Infosys shines
*
* Twitter Tweet This
* LinkedInShare on LinkedIn
* Facebook Share on Facebook
Related Topics
* Financials »
Stocks
Infosys Technologies Limited
INFY.BO
Rs3,184.25
+33.05+1.05%
2:51pm GMT+0530
Larsen & Toubro Limited
LART.BO
Rs2,012.95
-66.30-3.19%
2:55pm GMT+0530
ICICI Bank Limited
ICBK.BO
Rs1,139.10
-21.00-1.81%
2:51pm GMT+0530
Thu Oct 14, 2010 6:27am EDT
* Sensex drops 0.9 pct after hitting 33-month high
* Foreign buying remains strong; index 700 pts from record
* Infosys touches all-time high ahead of qtrly result
(Updates to close)
By Ami Shah
MUMBAI, Oct 14 (Reuters) - Indian shares fell 0.9 percent
on Thursday as investors locked in profits after the main index
climbed to a 33-month high in early trade, but the undertone
remained upbeat on sustained foreign buying.
Outsourcers mostly rose with bluechip Infosys Technologies
(INFY.BO), the No.2 software services exporter, climbing to an
all-time peak ahead of quarterly earnings due before the market
opens on Friday.
Engineering and construction conglomerate Larsen & Toubro
(LART.BO), ICICI Bank (ICBK.BO), State Bank of India (SBI.BO),
HDFC Bank (HDBK.BO) and Housing Development Finance Corp
(HDFC.BO) shed ground after posting big gains this year.
"Some profit booking was expected after such a run up, but
there is no big concern in the market for now," said Neeraj
Dewan, director of Quantum Securities.
The 30-share BSE index .BSESN closed down 0.92 percent,
or 190.24 points, at 20,497.64 points, with 25 of its
components losing ground.
It had hit 20,854.55 early, just around 350 points from a
record high of 21,206.77 reached on Jan. 10, 2008.
Citigroup estimated companies, excluding oil firms, in the
index would post annual earnings growth of more than 40 percent
this year, with quarter-on-quarter rise of 9 percent.
"India's 2QFY11 should be making headlines and hitting
highs," it said in a note dated Oct. 7.
Foreign funds have invested a record $21.8 billion in
Indian equities so far this year, and helped the benchmark
index rise 17.4 percent.
Infosys gained as much as 2.4 percent to a record high of
3,228 rupees while smaller rival Wipro (WIPR.BO) firmed as much
as 3.6 percent to 499.90 rupees, its highest in a decade.
Brokerages expect Infosys will raise its outlook for dollar
revenue growth to 21-24 percent for this fiscal year from 19-21
percent forecast in July. [ID:nSGE6970ET]
The banking sector index .BSEBANK shed 1.1 percent, but
is still up 42.8 percent in the year to date.
State Bank of India dropped 1.3 percent, while ICICI Bank
and HDFC Bank declined 1.8 percent and 0.9 percent
respectively. HDFC shed 1.1 percent.
Larsen & Toubro dropped 3.2 percent, after rising 4 percent
in the previous session.
Provisional data showed declining shares outnumbered
advancing ones in a ratio of 1.6:1 on relatively heavy volume
of 647 million shares.
The 50-share NSE index .NSEI closed 0.9 percent lower at
6,177.35 points.
MSCI's all-country world index .MIWD00000PUS firmed 0.7
percent at 1013 GMT, while MSCI's emerging market benchmark
.MSCIEF was trading 0.9 percent higher.
STOCKS THAT MOVED
* Software services firm Mastek (MAST.BO) fell 3.3 percent
to 235.85 rupees after it posted a surprise loss in the
September quarter, hurt by lower development revenue from a
major client and annual wage hikes. [ID:nSGE69D07O]
* Infotech Enterprises (INFE.BO) shed 7.6 percent to 174.75
rupees as the engineering software services provider said its
July-September net profit dropped 6.6 percent. [ID:nBMB011602]
* LIC Housing Finance (LICH.BO) gained nearly 1 percent to
1,458.05 rupees as the mortgage lender posted a
forecast-beating 36 percent rise in quarterly net profit.
[ID:nBMB011598]
* Road builder Ashoka Buildcon ABDL.BO closed up 2.9
percent at 333.35 rupees on market debut, compared with the
issue price of 324. [ID:nMBI000067]
* Bedmutha Industries BMIL.BO, a steel wire manufacturer
in western India, gained 77.3 percent on debut to 180.80 rupees
from its issue price of 102. [ID:nWNAS9693]
MAIN TOP 3 BY VOLUME
* Bedmutha Industries on 69.8 million shares
* Karuturi Global (KART.BO) on 42.8 million shares
* Sea TV Network SEAT.BO on 20.8 million shares
FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bonds report
[IN/]
* Dlr falls to fresh 15-yr lows vs yen, below 81 yen
[FRX]
* Oil nears five-month high as commodities rally
[O/R]
* US dollar drops on Singapore action, gold climbs
[MKTS/GLOB]
* U.S. stock index futures up; all eyes on dollar
[.N]
* For closing rates of Indian ADRs
INADR
(Editing by Ranjit Gangadharan)
Read
1. Yahoo shares surge on prospect of buyout | Video
2:10pm EDT
2. September home foreclosures top 100,000 for first time
12:59pm EDT
3. U.S. is currency war's "tomb maker": China economist
6:39am EDT
4. Singapore move hits dollar, India intervenes
9:58am EDT
5. Jobless claims point to further Fed easing
1:59pm EDT
Discussed
*
195
California governor debate turns into verbal brawl
*
74
Republicans to take House at midterm vote: Reuters/Ipsos poll
*
70
Obama administration appeals ruling backing gay marriage
Watched
*
Red faces over top model gaffe
Red faces over top model gaffe Tue, Sep 28 2010
*
Banksy takes on the Simpsons
Banksy takes on the Simpsons Tue, Oct 12 2010
*
From the mine to the minefield
From the mine to the minefield Wed, Oct 13 2010
Broker Center Special Advertising Feature
Click Here
Profit-taking clips Indian shares; Infosys shines
*
* Twitter Tweet This
* LinkedInShare on LinkedIn
* Facebook Share on Facebook
Related Topics
* Financials »
Stocks
Infosys Technologies Limited
INFY.BO
Rs3,184.25
+33.05+1.05%
2:51pm GMT+0530
Larsen & Toubro Limited
LART.BO
Rs2,012.95
-66.30-3.19%
2:55pm GMT+0530
ICICI Bank Limited
ICBK.BO
Rs1,139.10
-21.00-1.81%
2:51pm GMT+0530
Thu Oct 14, 2010 6:27am EDT
* Sensex drops 0.9 pct after hitting 33-month high
* Foreign buying remains strong; index 700 pts from record
* Infosys touches all-time high ahead of qtrly result
(Updates to close)
By Ami Shah
MUMBAI, Oct 14 (Reuters) - Indian shares fell 0.9 percent
on Thursday as investors locked in profits after the main index
climbed to a 33-month high in early trade, but the undertone
remained upbeat on sustained foreign buying.
Outsourcers mostly rose with bluechip Infosys Technologies
(INFY.BO), the No.2 software services exporter, climbing to an
all-time peak ahead of quarterly earnings due before the market
opens on Friday.
Engineering and construction conglomerate Larsen & Toubro
(LART.BO), ICICI Bank (ICBK.BO), State Bank of India (SBI.BO),
HDFC Bank (HDBK.BO) and Housing Development Finance Corp
(HDFC.BO) shed ground after posting big gains this year.
"Some profit booking was expected after such a run up, but
there is no big concern in the market for now," said Neeraj
Dewan, director of Quantum Securities.
The 30-share BSE index .BSESN closed down 0.92 percent,
or 190.24 points, at 20,497.64 points, with 25 of its
components losing ground.
It had hit 20,854.55 early, just around 350 points from a
record high of 21,206.77 reached on Jan. 10, 2008.
Citigroup estimated companies, excluding oil firms, in the
index would post annual earnings growth of more than 40 percent
this year, with quarter-on-quarter rise of 9 percent.
"India's 2QFY11 should be making headlines and hitting
highs," it said in a note dated Oct. 7.
Foreign funds have invested a record $21.8 billion in
Indian equities so far this year, and helped the benchmark
index rise 17.4 percent.
Infosys gained as much as 2.4 percent to a record high of
3,228 rupees while smaller rival Wipro (WIPR.BO) firmed as much
as 3.6 percent to 499.90 rupees, its highest in a decade.
Brokerages expect Infosys will raise its outlook for dollar
revenue growth to 21-24 percent for this fiscal year from 19-21
percent forecast in July. [ID:nSGE6970ET]
The banking sector index .BSEBANK shed 1.1 percent, but
is still up 42.8 percent in the year to date.
State Bank of India dropped 1.3 percent, while ICICI Bank
and HDFC Bank declined 1.8 percent and 0.9 percent
respectively. HDFC shed 1.1 percent.
Larsen & Toubro dropped 3.2 percent, after rising 4 percent
in the previous session.
Provisional data showed declining shares outnumbered
advancing ones in a ratio of 1.6:1 on relatively heavy volume
of 647 million shares.
The 50-share NSE index .NSEI closed 0.9 percent lower at
6,177.35 points.
MSCI's all-country world index .MIWD00000PUS firmed 0.7
percent at 1013 GMT, while MSCI's emerging market benchmark
.MSCIEF was trading 0.9 percent higher.
STOCKS THAT MOVED
* Software services firm Mastek (MAST.BO) fell 3.3 percent
to 235.85 rupees after it posted a surprise loss in the
September quarter, hurt by lower development revenue from a
major client and annual wage hikes. [ID:nSGE69D07O]
* Infotech Enterprises (INFE.BO) shed 7.6 percent to 174.75
rupees as the engineering software services provider said its
July-September net profit dropped 6.6 percent. [ID:nBMB011602]
* LIC Housing Finance (LICH.BO) gained nearly 1 percent to
1,458.05 rupees as the mortgage lender posted a
forecast-beating 36 percent rise in quarterly net profit.
[ID:nBMB011598]
* Road builder Ashoka Buildcon ABDL.BO closed up 2.9
percent at 333.35 rupees on market debut, compared with the
issue price of 324. [ID:nMBI000067]
* Bedmutha Industries BMIL.BO, a steel wire manufacturer
in western India, gained 77.3 percent on debut to 180.80 rupees
from its issue price of 102. [ID:nWNAS9693]
MAIN TOP 3 BY VOLUME
* Bedmutha Industries on 69.8 million shares
* Karuturi Global (KART.BO) on 42.8 million shares
* Sea TV Network SEAT.BO on 20.8 million shares
FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bonds report
[IN/]
* Dlr falls to fresh 15-yr lows vs yen, below 81 yen
[FRX]
* Oil nears five-month high as commodities rally
[O/R]
* US dollar drops on Singapore action, gold climbs
[MKTS/GLOB]
* U.S. stock index futures up; all eyes on dollar
[.N]
* For closing rates of Indian ADRs
INADR
(Editing by Ranjit Gangadharan)
Read
1. Yahoo shares surge on prospect of buyout | Video
2:10pm EDT
2. September home foreclosures top 100,000 for first time
12:59pm EDT
3. U.S. is currency war's "tomb maker": China economist
6:39am EDT
4. Singapore move hits dollar, India intervenes
9:58am EDT
5. Jobless claims point to further Fed easing
1:59pm EDT
Discussed
*
195
California governor debate turns into verbal brawl
*
74
Republicans to take House at midterm vote: Reuters/Ipsos poll
*
70
Obama administration appeals ruling backing gay marriage
Watched
*
Red faces over top model gaffe
Red faces over top model gaffe Tue, Sep 28 2010
*
Banksy takes on the Simpsons
Banksy takes on the Simpsons Tue, Oct 12 2010
*
From the mine to the minefield
From the mine to the minefield Wed, Oct 13 2010
Broker Center Special Advertising Feature
Click Here
Profit-taking clips Indian shares; Infosys shines
*
* Twitter Tweet This
* LinkedInShare on LinkedIn
* Facebook Share on Facebook
Related Topics
* Financials »
Stocks
Infosys Technologies Limited
INFY.BO
Rs3,184.25
+33.05+1.05%
2:51pm GMT+0530
Larsen & Toubro Limited
LART.BO
Rs2,012.95
-66.30-3.19%
2:55pm GMT+0530
ICICI Bank Limited
ICBK.BO
Rs1,139.10
-21.00-1.81%
2:51pm GMT+0530
Thu Oct 14, 2010 6:27am EDT
* Sensex drops 0.9 pct after hitting 33-month high
* Foreign buying remains strong; index 700 pts from record
* Infosys touches all-time high ahead of qtrly result
(Updates to close)
By Ami Shah
MUMBAI, Oct 14 (Reuters) - Indian shares fell 0.9 percent
on Thursday as investors locked in profits after the main index
climbed to a 33-month high in early trade, but the undertone
remained upbeat on sustained foreign buying.
Outsourcers mostly rose with bluechip Infosys Technologies
(INFY.BO), the No.2 software services exporter, climbing to an
all-time peak ahead of quarterly earnings due before the market
opens on Friday.
Engineering and construction conglomerate Larsen & Toubro
(LART.BO), ICICI Bank (ICBK.BO), State Bank of India (SBI.BO),
HDFC Bank (HDBK.BO) and Housing Development Finance Corp
(HDFC.BO) shed ground after posting big gains this year.
"Some profit booking was expected after such a run up, but
there is no big concern in the market for now," said Neeraj
Dewan, director of Quantum Securities.
The 30-share BSE index .BSESN closed down 0.92 percent,
or 190.24 points, at 20,497.64 points, with 25 of its
components losing ground.
It had hit 20,854.55 early, just around 350 points from a
record high of 21,206.77 reached on Jan. 10, 2008.
Citigroup estimated companies, excluding oil firms, in the
index would post annual earnings growth of more than 40 percent
this year, with quarter-on-quarter rise of 9 percent.
"India's 2QFY11 should be making headlines and hitting
highs," it said in a note dated Oct. 7.
Foreign funds have invested a record $21.8 billion in
Indian equities so far this year, and helped the benchmark
index rise 17.4 percent.
Infosys gained as much as 2.4 percent to a record high of
3,228 rupees while smaller rival Wipro (WIPR.BO) firmed as much
as 3.6 percent to 499.90 rupees, its highest in a decade.
Brokerages expect Infosys will raise its outlook for dollar
revenue growth to 21-24 percent for this fiscal year from 19-21
percent forecast in July. [ID:nSGE6970ET]
The banking sector index .BSEBANK shed 1.1 percent, but
is still up 42.8 percent in the year to date.
State Bank of India dropped 1.3 percent, while ICICI Bank
and HDFC Bank declined 1.8 percent and 0.9 percent
respectively. HDFC shed 1.1 percent.
Larsen & Toubro dropped 3.2 percent, after rising 4 percent
in the previous session.
Provisional data showed declining shares outnumbered
advancing ones in a ratio of 1.6:1 on relatively heavy volume
of 647 million shares.
The 50-share NSE index .NSEI closed 0.9 percent lower at
6,177.35 points.
MSCI's all-country world index .MIWD00000PUS firmed 0.7
percent at 1013 GMT, while MSCI's emerging market benchmark
.MSCIEF was trading 0.9 percent higher.
STOCKS THAT MOVED
* Software services firm Mastek (MAST.BO) fell 3.3 percent
to 235.85 rupees after it posted a surprise loss in the
September quarter, hurt by lower development revenue from a
major client and annual wage hikes. [ID:nSGE69D07O]
* Infotech Enterprises (INFE.BO) shed 7.6 percent to 174.75
rupees as the engineering software services provider said its
July-September net profit dropped 6.6 percent. [ID:nBMB011602]
* LIC Housing Finance (LICH.BO) gained nearly 1 percent to
1,458.05 rupees as the mortgage lender posted a
forecast-beating 36 percent rise in quarterly net profit.
[ID:nBMB011598]
* Road builder Ashoka Buildcon ABDL.BO closed up 2.9
percent at 333.35 rupees on market debut, compared with the
issue price of 324. [ID:nMBI000067]
* Bedmutha Industries BMIL.BO, a steel wire manufacturer
in western India, gained 77.3 percent on debut to 180.80 rupees
from its issue price of 102. [ID:nWNAS9693]
MAIN TOP 3 BY VOLUME
* Bedmutha Industries on 69.8 million shares
* Karuturi Global (KART.BO) on 42.8 million shares
* Sea TV Network SEAT.BO on 20.8 million shares
FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bonds report
[IN/]
* Dlr falls to fresh 15-yr lows vs yen, below 81 yen
[FRX]
* Oil nears five-month high as commodities rally
[O/R]
* US dollar drops on Singapore action, gold climbs
[MKTS/GLOB]
* U.S. stock index futures up; all eyes on dollar
[.N]
* For closing rates of Indian ADRs
INADR
(Editing by Ranjit Gangadharan)
Profit-taking clips Indian shares; Infosys shines
*
* Twitter Tweet This
* LinkedInShare on LinkedIn
* Facebook Share on Facebook
Related Topics
* Financials »
Stocks
Infosys Technologies Limited
INFY.BO
Rs3,184.25
+33.05+1.05%
2:51pm GMT+0530
Larsen & Toubro Limited
LART.BO
Rs2,012.95
-66.30-3.19%
2:55pm GMT+0530
ICICI Bank Limited
ICBK.BO
Rs1,139.10
-21.00-1.81%
2:51pm GMT+0530
Thu Oct 14, 2010 6:27am EDT
* Sensex drops 0.9 pct after hitting 33-month high
* Foreign buying remains strong; index 700 pts from record
* Infosys touches all-time high ahead of qtrly result
(Updates to close)
By Ami Shah
MUMBAI, Oct 14 (Reuters) - Indian shares fell 0.9 percent
on Thursday as investors locked in profits after the main index
climbed to a 33-month high in early trade, but the undertone
remained upbeat on sustained foreign buying.
Outsourcers mostly rose with bluechip Infosys Technologies
(INFY.BO), the No.2 software services exporter, climbing to an
all-time peak ahead of quarterly earnings due before the market
opens on Friday.
Engineering and construction conglomerate Larsen & Toubro
(LART.BO), ICICI Bank (ICBK.BO), State Bank of India (SBI.BO),
HDFC Bank (HDBK.BO) and Housing Development Finance Corp
(HDFC.BO) shed ground after posting big gains this year.
"Some profit booking was expected after such a run up, but
there is no big concern in the market for now," said Neeraj
Dewan, director of Quantum Securities.
The 30-share BSE index .BSESN closed down 0.92 percent,
or 190.24 points, at 20,497.64 points, with 25 of its
components losing ground.
It had hit 20,854.55 early, just around 350 points from a
record high of 21,206.77 reached on Jan. 10, 2008.
Citigroup estimated companies, excluding oil firms, in the
index would post annual earnings growth of more than 40 percent
this year, with quarter-on-quarter rise of 9 percent.
"India's 2QFY11 should be making headlines and hitting
highs," it said in a note dated Oct. 7.
Foreign funds have invested a record $21.8 billion in
Indian equities so far this year, and helped the benchmark
index rise 17.4 percent.
Infosys gained as much as 2.4 percent to a record high of
3,228 rupees while smaller rival Wipro (WIPR.BO) firmed as much
as 3.6 percent to 499.90 rupees, its highest in a decade.
Brokerages expect Infosys will raise its outlook for dollar
revenue growth to 21-24 percent for this fiscal year from 19-21
percent forecast in July. [ID:nSGE6970ET]
The banking sector index .BSEBANK shed 1.1 percent, but
is still up 42.8 percent in the year to date.
State Bank of India dropped 1.3 percent, while ICICI Bank
and HDFC Bank declined 1.8 percent and 0.9 percent
respectively. HDFC shed 1.1 percent.
Larsen & Toubro dropped 3.2 percent, after rising 4 percent
in the previous session.
Provisional data showed declining shares outnumbered
advancing ones in a ratio of 1.6:1 on relatively heavy volume
of 647 million shares.
The 50-share NSE index .NSEI closed 0.9 percent lower at
6,177.35 points.
MSCI's all-country world index .MIWD00000PUS firmed 0.7
percent at 1013 GMT, while MSCI's emerging market benchmark
.MSCIEF was trading 0.9 percent higher.
STOCKS THAT MOVED
* Software services firm Mastek (MAST.BO) fell 3.3 percent
to 235.85 rupees after it posted a surprise loss in the
September quarter, hurt by lower development revenue from a
major client and annual wage hikes. [ID:nSGE69D07O]
* Infotech Enterprises (INFE.BO) shed 7.6 percent to 174.75
rupees as the engineering software services provider said its
July-September net profit dropped 6.6 percent. [ID:nBMB011602]
* LIC Housing Finance (LICH.BO) gained nearly 1 percent to
1,458.05 rupees as the mortgage lender posted a
forecast-beating 36 percent rise in quarterly net profit.
[ID:nBMB011598]
* Road builder Ashoka Buildcon ABDL.BO closed up 2.9
percent at 333.35 rupees on market debut, compared with the
issue price of 324. [ID:nMBI000067]
* Bedmutha Industries BMIL.BO, a steel wire manufacturer
in western India, gained 77.3 percent on debut to 180.80 rupees
from its issue price of 102. [ID:nWNAS9693]
MAIN TOP 3 BY VOLUME
* Bedmutha Industries on 69.8 million shares
* Karuturi Global (KART.BO) on 42.8 million shares
* Sea TV Network SEAT.BO on 20.8 million shares
FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bonds report
[IN/]
* Dlr falls to fresh 15-yr lows vs yen, below 81 yen
[FRX]
* Oil nears five-month high as commodities rally
[O/R]
* US dollar drops on Singapore action, gold climbs
[MKTS/GLOB]
* U.S. stock index futures up; all eyes on dollar
[.N]
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