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MARKET EYE-Indian shares down on profit-taking, trade data
December 11, 2012 / 8:37 AM / in 5 years

MARKET EYE-Indian shares down on profit-taking, trade data

* India's BSE index falls 0.26 percent, while the NSE
index falls 0.4 percent, off highs on profit-taking
after the NSE stock futures breached the key
psychological level of 6,000 for the first time since Jan. 7,
2011.
* Traders also cite renewed concerns about India's current
account deficit after data on Tuesday showed exports fell 4
percent to $22.3 billion in November, while imports jumped to
$41.5 billion, leaving a trade deficit of $19.3 billion.
 
* Traders focused on the outcome of factory data on Wednesday
and inflation data on Friday, which are coming ahead of RBI's
rate-setting meet on Dec. 18.
* Rate sensitive stocks come under pressure: State Bank of India
 falls 1 percent, Tata Motors falls 1.4
percent.
* Tata Consultancy services shares down 0.9 percent
have fallen 6.04 percent in past 5 sessions on outlook concerns.

 (manoj.dharra@thomsonreuters.com)

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