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Sensex down 13 points on sticky retail-level inflation
Samvat 2068 ended on a cautious note as the BSE benchmark Sensex on Monday lost 13.3 points to close at 18,670.34 on selling over sticky retail-level inflation, weak industrial output and record-high trade deficit. The Sensex, which had lost 219 points in the past two days, resumed a tad higher, but moved in a narrow range of over 140 points before concluding 13.34 points lower at 18,670.34 ó extending the string of losses to three straight days. In the 30-share Sensex, 19 stocks declined, led by two most influential stocks, ITC and RIL, that fell over 1% each. Tata Steel, which fell 1.93%, was the worst performer among the Sensex constituents. The falling trend was cushioned to some extent as HDFC Bank, SBI, TCS and Bharti Airtel logged 0.8-1.4% gains. Brokers said investors were seen adjusting their portfolios ahead of a special 'Muhurat' trading on Diwali on Tuesday, followed by a holiday on Wednesday. The broad-based National Stock Exchange index, Nifty, eased by 2.55 points, or 0.04% to close at 5,683.70.
SAT sets aside suspension order against broker
The Securities Appellate Tribunal (SAT) on Monday set aside a Securities and Exchange Board of India (Sebi) order that suspended the registration certificate of Prashant J Patel for a week, citing delay in finalisation of the proceedings by the market regulator. However, SAT upheld the findings by Sebi against the stockbroker. In April this year, the registration certificate of the broker was suspended for a week by Sebi for indulging in structured/synchronised deals in shares of Roofit Industries. In its order on Monday, SAT said that it did not find the broker's suspension justifiable as there was significant delay in finalisation of the proceedings by Sebi.
Trading on bourses to be for 75 minutes this Diwali