Indian shares are trading subdued on Friday, in line with a weak trend across Asia as European Central Bank President Mario Draghi sounded very dovish and didn't hint at any liquidity boosts or non-standard measures to combat the debt crisis. Key benchmark indexes across Asia are down between 0.1 percent and 0.9 percent.
Closer home, the benchmark 30-share Sensex is currently down 79 points or 0.45 percent at 17,460, while the broader Nifty index is down 28 points or 0.52 percent at 5,300. Second-line stocks are also posting modest losses after recent sharp losses.
Jindal Steel, Wipro, Sterlite, Tata Steel, Gail India, ONGC, Hindalco, Maruti Suzuki, Tata Power, Larsen & Toubro and Infosys are among the prominent decliners in the Sensex pack, with losses 1-3 percent.
Mahindra Satyam is down 0.2 percent on the buzz it is eyeing acquisitions in South and Central America and Eastern Europe. Kingfisher Airlines is declining half a percent on reports that it won more time from lenders to announce a revival plan.
Bank of India is edging down 0.1 percent as the state-run lender cut fixed deposit rates of two years and above by 25 basis points. Union Bank of India is little changed after slashing interest rates on agri loans.
Exide Industries is declining 0.8 percent and Kotak Mahindra Bank is losing a percent on going ex-dividend.
HDFC is rising 0.4 percent ahead of its first-quarter results next week. Grasim Industries is moving up 0.9 percent after it signed a pact to buy the assets of the Terrace Bay Pulp Inc., a paper grade pulp mill in North America.
Bajaj Auto is declining a percent after it reportedly cut prices of its products in Sri Lanka to boost demand post the excise duty hike in the country.
Bharat Electronics is adding 1.6 percent after its board approved a proposal to set up a joint venture company with Thales Air Systems of France.
Benchmark indexes Sensex and the Nifty rose about half a percent each on Thursday, with renewed FII buying and firm European cues supporting risk sentiment.
by RTT Staff Writer
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