All
 

 

Just in:  

You are here: Home»General News»Pakistan»Indian shares retreat from record highs on profit taking

Indian shares retreat from record highs on profit taking

Indian shares fell on Tuesday from their record highs in the previous session as investors chose to book profits in recent outperformers such as Oil and Natural Gas Corp. Profit-booking was seen in most of the recent outperformers such as banks, while metal stocks were under pressure ahead of the top court's verdict on "illegal" coal mines.

However, sentiment remained upbeat as overseas investors bought shares worth $193 million on Monday, continuing their buying streak for a sixth straight session, exchange and regulatory data showed. They have pumped $13.8 billion into Indian equities so far this year. Regional markets were muted with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.1 percent. The benchmark BSE index closed 0.2 percent lower at 27,265.32 after hitting an all-time high of 27,354.99 on Monday. The broader NSE index ended 0.26 percent down at 8,152.95 after surging to a record high of 8,180.20 in the previous session.

Market heavyweights were under selling pressure. ONGC, which gained 2.62 percent in the previous session, closed 1.3 percent lower, while ICICI Bank fell 1.4 percent after a gain of 1.3 percent on Monday. Metal stocks were under pressure, with Hindalco Industries down 0.3 percent, ahead of the top court's hearing on "illegal" coal block allocations later in the day. Other mining stocks also fell. Sesa Sterlite Ltd declined 0.9 percent, while NMDC Ltd closed 1.3 percent lower.

Investors took profits in some large-cap infrastructure stocks such as Larsen & Toubro Ltd (L&T). L&T ended 1.5 percent lower, but is up 49.9 percent this year. Bharat Heavy Electricals Ltd closed down 1.2 percent, but has gained 25 percent so far this year. Among gainers, ABB India Ltd rose 3.6 percent after parent ABB Ltd said it would buy back $4 billion shares.

Copyright Reuters, 2014



 



 
Index Closing Chg%
Arrow DJIA 16,380.41 1.63
Arrow Nasdaq 4,258.44 0.97
Arrow S&P 1,886.76 1.29
Arrow FTSE 6,310.29 1.85
Arrow DAX 8,850.27 3.12
Arrow CAC-40 4,033.18 2.92
Arrow Nikkei 14,532.51 1.40
Arrow H.Seng 23,023.21 0.53
Arrow Sensex 26,108.53 0.42





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln