Mumbai: Indian shares declined amid a choppy trade on Tuesday ahead of expiry of futures & options contracts for October series on Thursday. The 50-share NSE Nifty fell 25.75 points to close at 5,691.40, weighed down by somewhat profit booking and weakness in global markets.
So far the October series has seen a consolidation with the market gaining just 0.8 per cent after a rally of 6 per cent in September owning to strong inflow of foreign money, stimulus packages by Federal Reserve & European Central Bank and reforms by the Indian government.
Overall the Nifty has been in a range of 5630-5730 since last two weeks due to lack of major global and local cues. Investors also awaited the move from Reserve Bank of India on October 30.
The 30-share BSE Sensex slipped 83.42 points to 18,710.02. The Indian rupee depreciated 24 paise to 53.71 against the US dollar on Tuesday.
Country’s largest two-wheeler maker Hero Motocorp fell 1.9 per cent ahead of results announcement that came in after market hours. The company said its net profit dropped 27 per cent year-on-year to Rs 440.5 crore in the second quarter of FY13 as against analysts’ forecast of Rs 440 crore.
Shares of engineering and construction major Larsen & Toubro gained another 2 per cent owning to higher-than-expected numbers announced on Monday.
Top private sector lender ICICI Bank continued its upmove, rising 0.5 per cent ahead of second quarter earnings on Friday. Its rival HDFC Bank fell 0.91 per cent.
Cigarette major ITC slipped 1.3 per cent for the second consecutive session on profit booking after better-than-expected numbers in July-September quarter.
Indian markets will be shut on Dusserha holiday on Wednesday.
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