March 7, 2013 / 7:52 AM / 4 years ago

MARKET EYE-Indian shares down; Infosys, TCS make new high

* The BSE index is down 0.16 percent, while the
50-share NSE index is 0.2 percent lower after two
consecutive days of gains. 
* Market retreats after two days of gain as most Asian shares
fell with investors focusing on meetings of the central banks of
Britain and the euro zone for signs of more policy stimulus,
after the Bank of Japan kept its policy on hold.
* Recent outperformers such as Reliance industries 
shares fall 0.9 percent, Tata Motors shares fall 1.8
percent after gaining 3.1 percent and 7.3 percent respectively
in the previous three sessions.
* However, the broader losses in the indices were capped by
gains in technology shares which extend their gains on hopes of
improving sector earnings this year, especially in the United
States on easy monetary policy. 
* Infosys Ltd gained 1 percent, marking their highest
intraday level since July 2011 while Tata Consultancy Services
 rose 2 percent making a new all-time high.
* Elder Pharmaceuticals rose 6 percent after it
announced a joint venture with Japan's KOSE Corp which will hold
60 percent in a cosmetics products venture which will help Elder
expand it's business base, dealers said. 

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)

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