MARKET EYE-India shares down; public banks gain, TCS falls

Mon Dec 10, 2012 2:44pm IST

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* The BSE index is down 0.24 percent while the NSE
index falls 0.27 percent. 
* Traders are cautious as the Nifty approaches a key
psychological level of 6,000, a level last seen Jan. 7, 2011.   
* European shares fall on Monday, after Italian Prime Minister
Mario Monti's decision to resign early triggers fears of a fresh
bout of euro zone uncertainty. 
* Traders say markets are awaiting fresh triggers from the
government, in the form of a pick up in the investment cycle,
which will help growth.
* Traders are expecting the banking bill to be passed which the
RBI has said was a pre-condition to invite new banking licences.
* Likely candidates for banking licences rose: Reliance Capital
Ltd gains 1.9 percent, L&T Finance Holdings Ltd
 rises 4.8 percent while Mahindra & Mahindra Financial
Services Ltd is up 7 percent.         
* State-run banks that gained on capital infusion hopes: Union
Bank of India is up 3 percent, Oriental Bank of
Commerce gains 5.3 percent.
* Reliance Industries falls 1.34 percent after gaining
5.15 percent this month as of Friday's close while Tata
Consultancy Services falls 1.9 percent on outlook
concerns.    

 (manoj.dharra@thomsonreuters.com)
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