Sensex recovers partially; down 119 pts in late morning trade


Mumbai: Paring some of its early losses, the BSE benchmark Sensex on Tuesday traded lower by 119 points in the late morning trade due to fresh selling by funds and investors as rupee tumbled to a new all-time low amid weakening trend in Asian markets.
The 30-share index resumed lower at 19,382.22 and dropped further to 19,313.19 before quoting at 19,321.94 at 1030hrs, still showing a loss of 119.13 points, or 0.61 per cent, from its last close.
The NSE 50-share Nifty also declined by 35.75 points, or 0.61 per cent, to 5,842.25 at 1030hrs.
The partially convertible rupee was trading at 58.30 after hitting record low of 58.70 versus Monday's close of 58.15/16 per dollar.
A weak rupee makes imports costlier, stoking inflation concerns; thereby minimising Reserve Bank's scope to extend monetary easing and counter the slowest economic growth in a decade.
Major losers were ICICI Bank (3.18 per cent), Jindal Steel (3.17 per cent), Bharti Airtel (2.87 per cent), Mahindra & Mahindra (1.65 per cent), Maruti Suzuki (1.64 per cent) and ONGC (1.57 per cent).
Foreign institutional investors (FIIs) sold shares worth a net Rs 114 crore yesterday, as per provisional data from the stock exchanges.
Asian stocks edged lower in early trade. Key benchmark indices in Taiwan, Hong Kong, Japan, Singapore and South Korea shed by 0.24 per cent to 2.19 per cent. Mainland Chinese markets are closed from Monday, 10 June 2013 till tomorrow, 12 June 2013, for the Dragon Boat Festival.

Post new comment

<form action="/comment/reply/236109" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-e2176e295cacb0188c853dcfd25b6f79" value="form-e2176e295cacb0188c853dcfd25b6f79" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="82337611" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.