Sensex opens lower on weak Asian cues; Suzlon dives 17%

Equity benchmarks opened lower on Friday following fall in Asian markets and weakness in technology and auto stocks.
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Feb 15, 2013, 09.53 AM | Source: Moneycontrol.com

Sensex opens lower on weak Asian cues; Suzlon dives 17%

Equity benchmarks opened lower on Friday following fall in Asian markets and weakness in technology and auto stocks.

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Sensex opens lower on weak Asian cues; Suzlon dives 17%

Equity benchmarks opened lower on Friday following fall in Asian markets and weakness in technology and auto stocks.

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09:47
Moneycontrol Bureau

Equity benchmarks opened lower on Friday following fall in Asian markets and weakness in technology and auto stocks.

The 30-share BSE benchmark fell 43.62 points to 19,453.56 while the 50-share NSE Nifty lost 18 points to 5,878.80, continuing the fall for second consecutive session.

Asian shares eased with investors turning cautious as weak euro zone growth data presaged the G20 meeting in this session. Nikkei declined 1.7 percent.

Among largecaps, commercial vehicle major Tata Motors tanked 2 percent after reporting huge loss in its domestic business during October-December quarter. Auto stocks extended losses with the car maker Maruti falling 1 percent.

Wind turbine producer Suzlon Energy plunged 17 percent in early trade after its loss in Q3 increased 4-fold compared to a year ago period.

Videocon Industries plunged 5 percent as its net profit fell quite sharply from Rs 86.4 crore in Q3FY12 to Rs 1 crore in Q3FY13. Realty major DLF fell 2.5 percent after disappointing results in the third quarter.

Kingfisher Airlines dropped 5 percent while United Breweries gained 2.5 percent as the company said they have not pledged shares of Kingfisher Airlines to lenders.

Meanwhile, Jet Airways was up 1.4 percent on hopes of a deal with Etihad getting declared this weekend.

Defensives like HDFC Bank, HDFC, ITC and HUL were supporting the market, trading with marginal gains.

Country's largest lender State Bank of India gained just 0.2 percent while its rival ICICI Bank declined 0.2 percent.

(With inputs from Reuters)

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Sensex opens lower on weak Asian cues; Suzlon dives 17%

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