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Jul 26, 2012, 03.07 PM IST
Indian shares extended losses in afternoon trade amid volatility due to further fall in Infosys, Reliance and SBI. L&T, ITC, ONGC and private banks' stocks too fell further. The broader markets too widened losses to 1.5% as about three shares declined for every share rising on the National Stock Exchange.
The 30-share BSE benchmark fell 108 points to 16,738.04 and the 50-share NSE benchmark was down 35 points to 5,074.30.
Index heavyweight ITC, Reliance Industries and Infosys dropped 1% each. Country's largest lender State Bank of India tanked 1.9% while its rivals ICICI Bank and HDFC Bank slipped 0.6% each.
Engineering and construction major Larsen & Toubro and state-owned oil & gas producer were down 1.5%.
Commercial vehicle maker Tata Motors, software services exporter Wipro and private power producer Tata Power tumbled 2% each.
State-owned power equipment manufacturer BHEL declined 0.7% on profit booking. The stock had gained 1% after better than expected results.
However, drug producer Sun Pharma retained its top position in the buying list, rising 2.6% while rival Dr Reddy's Labs gained 1.4%.
Shares of Bharti Airtel, NTPC, Jindal Steel, Cipla and Hero Motocorp gained 0.4-0.8%.
On the global front, France's CAC and Britain's FTSE were flat, but Germany's DAX tanked 1%.
Indian equity benchmarks were completely lacklustre in trade as healthcare, auto (except Tata Motors) stocks, ICICI Bank and BHEL were quite supportive whereas the selling continued in technology, FMCG, metals and oil & gas stocks.
The BSE Sensex and NSE Nifty continued to move in a tight range around previous day's closing values ahead of settlement for July contract. Shares of Sterlite Industries and BHEL plummeted 0.9% each ahead of quarterly earnings today. However, cigarette major ITC gained 0.6% ahead of earnings.
Jun 18 2013, 22:39
- in MARKET OUTLOOK
Jun 18 2013, 22:39
- in Business