Sensex Down By 94 pts on Profit-Booking

Monday, October 31, 2011
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Mumbai: The BSE benchmark Sensex was down by 94 points in early trade on Monday on profit-booking by operators in refinery, metal, consumer durable and auto stocks on the back of weak Asian cues. The Sensex hovered in a range between 17,806.21 and 17,688.34 points before quoting at 17,710.62 at 1015 hours, a net loss of 94.18 points, or 0.53 percent, from last weekend's close. The NSE's 50-share Nifty Index also moved down by 34.90 points, or 0.65 percent, to 5,325.80 at 1015 hours. Maruti Suzuki India tumbled by 2.67 percent after the company announced on Saturday that its net profit fell by 59.8 percent year-on-year to Rs. 240.44 crore for the quarter ended September 30, 2011, on account of a 14.36 percent fall in total income to Rs. 7,949.36 crore. The other losers in early trade were Tata Motors (down 3.10 percent), Sterlite Industries (2.56 percent), Hindalco Industries (2.25 percent) and ONGC (2.06 percent). Asian shares fell in early trade in the wake of a nearly 10 percent rally last week after Europe laid out a basic framework to tackle its debt crisis. The key benchmark indices in China, Hong Kong, Singapore, South Korea and Taiwan were down by between 0.3 percent and 1.08 percent, while Japan's Nikkei Average was up by 0.25 percent.
Source: PTI
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