Sensex edges lower,techs drop

Sensex fell early on Thursday led by IT services stocks and tailing weak Asian markets.

Sensex fell on opening on Thursday tailing weak Asian markets,and led by losses in export-driven software IT services stocks.

At 9:16 a.m. 0346 GMT,the 30-share BSE index was down 0.25 percent at 18,456.04 points,with 23 components declining. It had opened barely changed.

The 50-share NSE index was down 0.34 percent at 5,548 points.

STOCKS/PREOPEN: Sensex to ease early; Hero Honda,Biocon in focus

Indian shares are expected to open lower on Thursday tailing subdued Asian peers,and investors will watch quarterly earnings for direction.

Traders said the market could recover later in the day as a deal between France and Germany over a bailout of Greece raised hopes ahead of a major European summit.

Hero Honda ,India8217;s largest motorcycle maker,and drugmaker Biocon release their results on Thursday.

Drugmaker Dr Reddy8217;s will be watched after it said profit rose 25 percent in the June quarter,almost in line with analysts8217; estimates,as key drugs helped sales in North America.

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The MSCI8217;s measure of Asian markets other than Japan was down 0.34 percent at 0310 GMT,while Japan8217;s Nikkei dropped 0.12 percent and Hong Kong8217;s Hang Seng index shed 0.46 percent.

The Nifty India stock futures in Singapore were down 0.1 percent.

On Wednesday,the 30-share BSE index closed down 0.8 percent at 18,502.38 points.

STOCKS TO WATCH

Mindtree Ltd after the company8217;s April-June net profit more than doubled.

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Bharati Shipyard Ltd after its June quarter net profit fell 19 percent.

Consolidated Securities Ltd after the company said its board had approved a rights share issue.

Chambal Fertilisers and Chemicals after a top official told Reuters the firm expected to list its unit India Steamship by March 2012,after it transfers its shipping business to the subsidiary.

FACTORS TO WATCH

Euro rallies on news of French,German deal

Oil gains on U.S. debt hopes,tight supply

Euro gains,bonds fall before key EU meeting

Wall Street ends near flat; debt deadline looms

Company INFO

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