 "Market set for a weak close on profit booking")
Benchmark indices extended losses in noon deals dragged down by Reliance Industries, infrastructure major Larsen & Toubro and lenders State Bank of India and ICICI Bank.
The sentiment was also hit as activity in the largest segment of the Indian economy -- services -- failed to pickup in March as contraction continued for the ninth straight month, HSBC Purchasing Managers' Index data showed today.
The PMI services stood at a three-month low of 47.5 points in March compared to 48.8 points in February -- indicating a contraction. In February, the index had inched up from 47.7 points in the previous month.
Among index heavyweights, BHEL, Reliance, Larsen & Toubro and Axis Bank, SBI plunged over 1-4% lower in noon deals.
On the sectoral front, BSE Capital Goods, Oil & Gas indices and BSE Bankex have slumped by over 1% each followed by counters like Power and Auto, all falling by nearly 1% each. However, BSE Consumer Durables and Healthcare indices have surged by nearly 1%.
On the global front, Asian shares hovered near four-month highs on Thursday as upbeat US data underpinned risk appetite, while news China is taking steps to stimulate its economy spurred Tokyo's Nikkei to a three-week peak.
The yen languished at 10-week lows as equity markets rose, denting safe-haven demand for the currency.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% to brush a new four-month high. The index has rebounded about 6% from a five-week low hit on March 20, supported by receding tensions in Ukraine and hopes China will take steps to stimulate its sagging economy.
Tokyo's Nikkei outperformed to gain 1.2% while South Korea's KOSPI rose to three-month highs.
Back home, FIIs bought shares worth a net Rs 594.67 crore on Wednesday, 2 April 2014, as per provisional data from the stock exchanges.
The rupee is trading at 59.90/91 compared to its previous close, tracking largely unchanged domestic sharemarket with mixed Asian currencies failing to provide any clear direction.
L&T has fallen on a media report that the company is likely to trim its Rs 1.7-lakh crore order book by about 10%.
Stocks of pharmaceutical companies continued to gain in trade today with counters like Wockhardt, Strides Arcolab, Dr Reddy’s Laboratories and Ranbaxy Laboratories moving up between 1 – 13%.
The BSE pharmaceutical index, S&P BSE Healthcare index is the largest gainer among sectoral indices has gained nearly 1%
Among other shares, GMR Infrastructure lost 1.7% to Rs 23 in noon deals on BSE, with the stock sliding on profit booking after recent rally.
Hindustan Motors has lost 3.63% to Rs 7.44 after the company said its total vehicle sales declined 73.87% to 232 units in March 2014 over March 2013.
The market breadth in BSE remains weak with 1,435 shares declining and 1,145 shares advancing.
The sentiment was also hit as activity in the largest segment of the Indian economy -- services -- failed to pickup in March as contraction continued for the ninth straight month, HSBC Purchasing Managers' Index data showed today.
The PMI services stood at a three-month low of 47.5 points in March compared to 48.8 points in February -- indicating a contraction. In February, the index had inched up from 47.7 points in the previous month.
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At 1440 hrs, the 30-share BSE Sensex was down 136 points at 22,415 levels and NSE Nifty slipped 41 points at 6,711 levels.
Among index heavyweights, BHEL, Reliance, Larsen & Toubro and Axis Bank, SBI plunged over 1-4% lower in noon deals.
On the sectoral front, BSE Capital Goods, Oil & Gas indices and BSE Bankex have slumped by over 1% each followed by counters like Power and Auto, all falling by nearly 1% each. However, BSE Consumer Durables and Healthcare indices have surged by nearly 1%.
On the global front, Asian shares hovered near four-month highs on Thursday as upbeat US data underpinned risk appetite, while news China is taking steps to stimulate its economy spurred Tokyo's Nikkei to a three-week peak.
The yen languished at 10-week lows as equity markets rose, denting safe-haven demand for the currency.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% to brush a new four-month high. The index has rebounded about 6% from a five-week low hit on March 20, supported by receding tensions in Ukraine and hopes China will take steps to stimulate its sagging economy.
Tokyo's Nikkei outperformed to gain 1.2% while South Korea's KOSPI rose to three-month highs.
Back home, FIIs bought shares worth a net Rs 594.67 crore on Wednesday, 2 April 2014, as per provisional data from the stock exchanges.
The rupee is trading at 59.90/91 compared to its previous close, tracking largely unchanged domestic sharemarket with mixed Asian currencies failing to provide any clear direction.
L&T has fallen on a media report that the company is likely to trim its Rs 1.7-lakh crore order book by about 10%.
Stocks of pharmaceutical companies continued to gain in trade today with counters like Wockhardt, Strides Arcolab, Dr Reddy’s Laboratories and Ranbaxy Laboratories moving up between 1 – 13%.
The BSE pharmaceutical index, S&P BSE Healthcare index is the largest gainer among sectoral indices has gained nearly 1%
Among other shares, GMR Infrastructure lost 1.7% to Rs 23 in noon deals on BSE, with the stock sliding on profit booking after recent rally.
Hindustan Motors has lost 3.63% to Rs 7.44 after the company said its total vehicle sales declined 73.87% to 232 units in March 2014 over March 2013.
The market breadth in BSE remains weak with 1,435 shares declining and 1,145 shares advancing.