Monday, October 28, 2013

BSE Sensex falls around 100 points

Reuters Market Eye - The BSE Sensex falls 86 points, while the broader Nifty is down 33 points.

Hindustan Unilever Ltd (HLL.NS) loses 0.8 percent after earlier rising as much as 4.2 percent after the company\'s sales volumes in the July-September quarter grew 5 percent, in line with market estimates of 4-5 percent growth.

Maruti Suzuki India Ltd (MRTI.NS) gains 0.6 percent ahead of its earnings later in the day.

Foreign investors have continued to buy local shares, remaining net buyers for a 16th consecutive session. Provisional exchange data showed a net purchase of 6.27 billion rupees worth of shares on Friday.

However, traders expect volatility after Indian shares rise to near three-year highs as the Reserve Bank of India is expected to raise interest rates by 25 basis points at its policy review on October 29, while U.S. Federal Reserve holds its policy meeting on October 29-30.

The expiry of October derivative contracts on October 31 could further add to the volatility, traders say.
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