Moneycontrol
Jun 13, 2013 02:59 PM IST | Source: Moneycontrol.com

BSE Sensex down 1%; Jet Airways, SpiceJet on buyers' radar

Aluminium major Hindalco shares extended gains to 5 percent, outperforming its peers and other frontliners. But the stock fell 7 percent in past one month and 21 percent in one year.


Moneycontrol Bureau
Live Market Commentary


02:50pm Buying continues in aviation stocks. Jet Airways and SpiceJet gained 6.6 percent and 3.5 percent, respectively.


Aluminium major Hindalco shares extended gains to 5 percent, outperforming its peers and other frontliners. But the stock fell 7 percent in past one month and 21 percent in one year.


BSE Sensex is down 186.66 points or 0.98 percent at 18854.47, and the Nifty down 52.85 points or 0.92 percent at 5707.35.


Telecom operator Bharti Airtel rallied nearly 4 percent on short covering today, which dropped 8 percent in past one month


02:40pm Jubilant Foodworks shares plunged 6.6 percent and touched a 52-week low of Rs 958.80, after its promoter Weston Investments sold 3.6 lakh equity shares.


ILandFS Transportation Networks rose nearly 3 percent as the company received environment nod for three road projects.


BSE Sensex is down 199.63 points or 1.05 percent at 18841.50, and the Nifty is down 53.70 points or 0.93 percent at 5706.50.


02:30pm European markets trimmed early losses; France's CAC and Britain's FTSE slipped 1 percent each while Germany's DAX declined 1.8 percent.


Indian equities too recouped some losses following a slight recovery in rupee that was trading at 58.17, down 38 paise.


Apollo Tyres shares plunged 25 percent after the company agreed to buy US-based Cooper Tire for Rs 14,500 crore in all cash deal. Goldman Sachs feels the acquisition is a giant step for Apollo, but execution is the key.


02:20pm Indian rupee recouped some losses, depreciating 44 paise to 58.23 per dollar. It touched an intraday low of 58.44 per dollar.


State-owned STC India crashed 20 percent following a sharp cut in MMTC. The government set the floor price at Rs 60 per share for MMTC's offer for sale as against Wednesday's closing price of Rs 214.


02:10pm The downward journey sustains in equity benchmarks due to weak global cues and rupee depreciation. BSE Sensex is down 207.01 points or 1.09 percent at 18834.12, and the Nifty is down 55.70 points or 0.97 percent at 5704.50.


Declining shares outnumbered advancing ones by 1469 to 671 on the Bombay Stock Exchange. The BSE Midcap Index dropped 1.2 percent and Smallcap slipped 0.9 percent.

Reliance Communications is likely to sell controlling stake in DTH business to Sun Group, reports CNBC-TV18 quoting sources. Sources say talks with Sun Group are at advanced stage for DTH business. The stock declined 1.2 percent.

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