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INFY - Infosys News Story

$18.29 0.2  1.0%

Last Trade - 05/05/21

Large Cap
Market Cap £55.53bn
Enterprise Value £53.50bn
Revenue £9.79bn
Position in Universe 163rd / 6849

Indian shares falter ahead of derivatives expiry; Sesa falls

Tue 24th December, 2013 11:20am
* BSE index closes down 0.32 pct; NSE index falls 0.26 pct * Sesa Sterlite falls after federal police begins probe * Profit-booking ahead of derivatives expiry weighs on blue chips By Himank Sharma MUMBAI, Dec 24 (Reuters) - Indian shares fell on Tuesday after two sessions of gains as investors booked profits in recent outperformers such as ONGC and Tata Motors ahead of derivatives expiry later this week. The expiry of derivatives on Thursday typically sparks volatile trading. This month will also mark the end of the quarter and the calendar year. Markets are closed on Wednesday for the Christmas holiday. Still, broader sentiment remains underpinned by strong buying by foreign institutional investors even after the Federal Reserve last week announced the start of a reduction in bond purchases. FIIs bought 1.35 billion rupees ($21.8 million) of Indian shares on Monday, according to exchange and regulatory data, bringing their total over the three sessions since the Fed decision to $514.2 million, as global markets have extended gains. "FIIs are the dominant players and going into the holiday season volumes are likely to remain thin, so we don't expect too much of a movement in the next few days," said Aneesh Srivastava, chief investment officer of IDBI Federal Life Insurance Co Ltd. "Going into the New Year there would be increased volatility, but our expectation is for interest rate to turn around, which would be a net positive." The benchmark BSE index  .BSESN  closed down 0.32 percent at 21,032.71, after gaining 1.9 percent in the previous two sessions. The broader NSE index  .NSEI  fell 0.26 percent to 6,268.40. Some recent outperforming blue chips fell, with Tata Motors Ltd  TAMO.NS  down 0.8 percent after gaining 2.4 percent over the previous four sessions. Oil and Natural Gas Corp (ONGC)  ONGC.NS  fell 1.1 percent after rallying 5.5 percent over the previous four sessions. Shares of Sesa Sterlite Ltd  SESA.NS , controlled by billionaire Anil Agarwal, closed down 2.28 percent after India's top investigating agency said it started a probe into possible irregularities in its stake buy in Hindustan Zinc Ltd  HZNC.NS  back in 2006.  ID:nL3N0K30TC  Hindustan Zinc, in which Agarwal's Vedanta Resources PLC VED.L  has a 64.9 percent stake, closed lower 2.15 percent. However, among gainers, Infosys Ltd  INFY.NS , which fell 2.3 percent on Monday after a top executive resigned, closed higher 0.52 percent on bargain-buying.  Shares in Apollo Tyres Ltd  APLO.NS  ended up 7.9 percent after rising to their highest since September 2012 as investors bet the Indian company will drop its $2.5 billion deal to buy U.S.-based Cooper Tire & Rubber Co  CTB.N .  ID:nL3N0K3123  For additional stocks on the move double click  MEYE         FACTORS TO WATCH                                              * Dollar edges higher on strong U.S. economy outlook      FRX/  * Brent steadies above $111 on South Sudan conflict        O/R  * Equities buoyed by Nikkei high, dollar edges up    MKTS/GLOB   * Foreign institutional investor flows         INFII   INFII01   * For closing rates of Indian ADRs                       INADR   ASIA-PACIFIC STOCK MARKETS:                                   Pan-Asia........ STXNEWS/AS  Japan....... .T   S.Korea...  .KS   S.E. Asia....... .SO         Hong Kong... .HK  Taiwan.... .TWX   Australia/NZ.... .AX         India....... .BO  China.....  .SS   OTHER MARKETS:                                                Wall Street .... .N          Gold ....... GOL/ Currency.. FRX/   Eurostocks..... .EU          Oil ........ O/R  JP bonds... JP/   ADR Report ..... ADR/        LME metals. MET/L US bonds..  US/   Stocks News US.. STXNEWS/US  Stocks News Europe     STXNEWS/EU   DIARIES & DATA:                                               Indian Data Watch   ID:nINDATA   Asia earnings diary ASIA/EQTY   U.S. earnings diary RESF/US      European diary        WEU/QTY   Indian diary        IN/DIARY     Wall Street Week Ahead   .N/O   Eurostocks Week Ahead  .EU/O                                     TOP NEWS:                                                     For top Asian company news, double click on:*:nTOPEQA    U.S. company news TOP/EQU   European company news  TOP/EQE    Forex news        TOP/FRX   Global Economy news  TOP/MACRO    Technology news   TOP/TECH  Telecoms news        TOP/TELCO    Media news        TOP/MEDIA Banking news           TOP/FIN    Politics/General  TOP/G     Asia Macro data      
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