BSE Sensex plunges 173 pts,NSE Nifty 50,RIL shares watched on Vikram Pandit move

RIL generates speculation over bank blueprint in which it sounds out Vikram Pandit.

Written by Reuters | Published: April 4, 2013 9:05:00 am

The BSE Sensex today fell by almost 173 points in early trade due to sustained selling by investors on renewed worries over domestic political stability and a weakening trend in global markets.

The 30-share BSE Sensex fell by 172.94 points,or 0.92 per cent,to 18,628.70,with all the sectoral indices led by realty and banking falling up to 1.76 per cent. The index had lost 239.31 points yesterday.

Similarly,the wide-based National Stock Exchange index NSE Nifty fell by 50.70 points,or 0.89 per cent,to 5,622.20.

Brokers said continued selling by funds and retail investors on concerns over fears of early general elections and a weak trend in the Asian region in line with overnight fall on the global markets dampened the trading sentiment.

Besides,fears of lower quarterly earnings by companies in the fourth quarter too fuelled the selling,they said.

In the Asian region,Japan’s Nikkei fell 1.71 per cent,while Hong Kong markets remained closed today. The US Dow Jones Industrial Average ended 0.76 per cent lower yesterday.

Indian stocks to watch-April 04

GLOBAL MARKETS ROUNDUP

* BSE Sensex ended the wining streak yesterday posting biggest loss in two weeks. Auto and telecom shares were worst hit.

* Nifty futures on the Singapore Exchange fell 0.5 percent,while the MSCI-Asia Pacific index excluding Japan was down 0.6 percent.

* Investors nervously watched developments in the Korean Peninsula on Thursday while Asian stocks fell after weak data stoked concerns the key American jobs report due later in the week will signal slowing U.S. Growth.

* U.S. stocks fell on Wednesday,with the S&P 500 index posting its biggest daily decline in more than a month,after a weaker-than-expected survey of private employers raised concerns about the strength of the economy.

FACTORS TO WATCH

* RBI Governor meets bankers ahead of annual policy review on May 3.

* Diversified Indian company Piramal Enterprises Ltd will announce a business development in its over-the-counter drugs business.(0700 GMT)

INDIAN STOCKS TO WATCH .

India’s largest copper smelter declares force majeure.

RIL draws bank blueprint,sounds out Vikram Pandit

Amnesty,sops of 30 bn rupees likely in Foreign Trade Policy.

Finance ministry mulls the option of starting 400 bln rupees divestment programme with share buyback

Future Group,CEOs JV buy majority stake in office supplies firm Staples

India plans reinsurance pool to cover refiners handling Iran oil.

NTPC not to sign FSAs with Coal India over coal quality

Govt considers increasing FDI limit to 49 pct in defence sector says Anand Sharma

Maruti’s first Gujarat site faces land hurdle.

Qatar’s Hassad Food buys majority stake in Indian firm.

After AI bonds,EPFO may come to the rescue of three more PSUs.

Land acquisition Bill: all-party meet on 9 April.

Telecom EGoM to meet for spectrum pricing policy next week

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