Sensex extends fall post WPI inflation data; Yes Bank gains

Written By Unknown on Rabu, 14 Januari 2015 | 14.02

Food inflation was 5.2 percent against 0.63 percent in previous month while manufactured products inflation declined to 1.57 percent from 2.04 percent during the same period.

12:20

Moneycontrol Bureau The market extended losses in noon trade after WPI inflation inched up marginally to 0.11 percent in December. Inflation in November was zero. The rise in inflation was due to increase in food prices. Food inflation was 5.2 percent against 0.63 percent in previous month while manufactured products inflation declined to 1.57 percent from 2.04 percent during the same period.

The Sensex fell 94.26 points to 27331.47 and the Nifty slipped 21.65 points to 8277.75. About 1177 shares have advanced, 1317 shares declined, and 335 shares are unchanged.

Yes Bank's third quarter (October-December period) profit climbed 30 percent to Rs 540.3 crore, driven by strong net interest income and other income. But the rise in provision limited profits to some extent. Net in the year-ago period was Rs 415.60 crore. The stock gained 1 percent.

ITC remained under pressure today, down 3 percent on news that the government is looking to ban the sale of loose cigarettes.

Tata Teleservices is locked at 20 percent upper circuit as the RBI asked government to allow Tata group to pay NTT Docomo a previously agreed price of Rs 58 for 26 percent stake in parent, Tata Teleservices. This is despite it being much higher than the determined fair value price of Rs 23.34 a share. RBI also recommended that such a stance should be taken for all similar future deals.

Commodity rout dragged Asian markets lower today. Oil continued to trade near 6-year lows and copper too slipped to levels not seen since mid-2009. Gold dipped from 12-week highs as concerns over a supply glut in oil and slowing consumption in China dampened sentiment.

11:00

HUL, BHEL, Bajaj Auto, and HDFC twins are top gainers in the Sensex. Among the losers are Sesa Sterlite, Hindalco, ITC, Tata Steel and GAIL.

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10:00

Hindustan Unilever, which snapped six-day rally in previous session, resumed rally again. The stock gained 2.4 percent followed by BHEL and Bajaj Auto with 1-2 percent gain.

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09:15

TCS, Tata Motors, BHEL, Wipro and Hero are top gainers while ITC, ICICI Bank, Sesa Sterlite, Dr Reddy's Labs and Hindalco are among the laggards.

Read More »


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