BSE Sensex today fell over 211 points in early trade extending losses for the second straight session,due to sustained selling by funds amid a weak trend in other Asian markets.
The 30-share barometer fell by 211.64 points,or 1.09 per cent,to 19,252.18 with all the sectoral indices led by realty and metal,trading in negative zone with losses up to 2.31 per cent. The index had lost 113.57 points yesterday.
STOCK MARKET LINKS
The wide-based National Stock Exchange index,Nifty slipped below the 5,800 level by falling 60.60 points,or 1.03 per cent to,5,796.95.
Brokers said sustained selling by funds amid a weakening rupee and subdued trend in the Asian region,mainly dampened the trading sentiment here.
In the Asian region,Hong Kong’s Hang Seng index traded lower by 2.05 per cent,while Japan’s Nikkei Index fell 0.06 per cent,in early trade.
The US Dow Jones Industrial Average ended 0.28 per cent lower in yesterday’s trade.
Indian stocks to watch – July 3
July 3 (Reuters) –
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange are down 1.1 percent and the MSCI-Asia Pacific index excluding Japan is 1.6 percent lower.
* The dollar hovered at one-month highs against a basket of major currencies on Wednesday,while Asian shares drooped after a batch of U.S. data reinforced views that the days of easy money from the Federal Reserve are numbered.
* U.S. stocks edged lower on Tuesday,erasing earlier gains as the S&P 500 met resistance around its 50-day moving average,a level the index has not been able to close above for the past two weeks.
FACTORS TO WATCH
* Finance Minister P. Chidambaram will address the heads of state-run banks on Wednesday and will later brief the media around 12.30 IST (0700 GMT)
* India’s cabinet will again debate the merits of using an executive order to launch the government’s flagship $24 billion food security programme,the centrepiece of the ruling Congress party’s re-election campaign. (1200 GMT)
* The Indian government will launch a sale of its 4 percent stake in state-run Hindustan Copper Ltd,which could raise $38 million.
* India’s services PMI for June. (0500 GMT)
* The Reserve Bank of India Governor Duvvuri Subbarao will be part of the two-day board meet in the southern city of Chennai. (1230 GMT)
INDIAN STOCKS TO WATCH
Ambuja Cements and ACC Ltd to be merged as Holcim rejigs Indian ops.
Reliance communication’s DTH business close to selling 80 pct stake to Sun TV.
India’s ONGC loses Kashagan oil field to China.
Hindustan Copper floor price for share sale set at 70 rupees per share.
Telecom Commission nod to 100 pct FDI in telecom.
Bajaj to move Pulsar bike output to Aurangabad.
India cbank to introduce extra provisioning for unhedged foreign exposure.
Gas subsidy for power,fertiliser firms in works.
Adani Ports,Mediterranean Shipping form JV for container terminal.
GIC,Temasek,Oman to invest in India’s HDFC property fund.
Steel Authority of India’s June saleable steel production up 7 pct – Reuters
Telecom sector facing penalties of around 65 bln rupees.
RBI lifts ban on FIIs buying Yes Bank shares.
MPs raised issues over Jet-Etihad deal with PM’s Office and Central Vigilance Commission.