Sensex flat; foreign investors extend sales

Source : REUTERS
Last Updated: Tue, Apr 09, 2013 05:11 hrs
People watch news channel displayed on screen on facade of Mumbai Stock Exchange building as India's Finance Minister Palaniappan Chidambaram presents federal budget

The Sensex is flat and the Nifty is up 0.29 percent.

Global cues are more positive with Asian equities drawing support after Alcoa Inc reported a higher quarterly profit, signalling a positive start to the U.S. quarterly earnings season.

Cairn India Ltd gains 2.82 percent after the company announces an oil discovery in the Rajasthan block in northwest India.

ICICI Bank Ltd up 1.6 percent after Morgan Stanley upgrades the stock to "overweight" from "equal-weight", citing an expected pick-up in consumer loan growth.

Wipro down 9.5 percent in the first trading session after splitting non-IT business into a separate unit.

Foreign funds continue to be net sellers in Indian equities, having sold $30.03 million of equities on Monday, a fourth consecutive session of selling.

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