Epic Research has 1737 News online.
· Indian equity markets were down -
· Nifty down by 40.05 pts and settle at
· Sensex down by 110.73 pts at 19751.25
· Bank Nifty down by 160.35 pts at
· European markets were down with FTSE
down by 100.40 closed at 6246 ,CAC
down by 113.62 closed at 3659 and DAX
down by 195.16 closed at 7638.
· Dow future was up 17.00 closed at
· Key benchmark indices reversed intraday gains in late trade on concerns that PSU disinvestment and reduction of promoter stake to meet the Securities & Exchange Board of India (Sebi) mandated minimum public shareholding of 25% for private companies and 10% for state-run firms will result in supply of equity in the market over the next few months. The market breadth, indicating the overall health of the market, was negative.
· BSE Sensex lost 30 points or 0.15% to settle at 19,751.19, its lowest closing level since 11 January 2013.
· S&P CNX Nifty shed 11.65 points or 0.19% to 5,987.25.
· Among the 30-share Sensex pack, 19 stocks declined while the rest of them rose.
· PSU OMCs dropped. HPCL, BPCL and Indian Oil Corporation declined by 0.86% to 2.72%. The Ministry of Petroleum & Natural Gas after trading hours on Friday, 1 February 2013, said that supply diesel to thefishermen would be treated as retail supply and will be supplied at the price applicable for the other retail outlets of PSU OMCs with immediate effect. Shares of state-run banks dropped. State Bank of India (SBI) shed 0.98%. The bank has reduced the base rate by 5 basis points (bps) to 9.7% per annum (p.a.) from 9.75% per annum effective from 4 February 2013. The bank has also reduced the Benchmark Prime Lending Rate by 5 bps to 14.45% p.a. from 14.5% p.a. effective from 4Februar2013.
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