BSE Sensex losing streak enters sixth session,opens 21 pts down

The 30-share index,which had lost over 778 points in the previous five sessions,fell by 21.26 points,or 0.11 per cent,to 18,771.61 in early trade,with stocks of IT,realty and oil and gas sectors leading the fall.

Similarly,the wide-based National Stock Exchange index Nifty shed 3.55 points,or 0.06 per cent,to 5,655.20.

Brokers said besides a weak trend in the Asian region in line with overnight losses on the US markets,continuing worries over the country’s political stability dampened the trading sentiment here.

Meanwhile,in Asia,Hong Kong’s Hang Seng index declined by 0.28 per cent,while Japan’s Nikkei fell 1.34 per cent.

The US Dow Jones Industrial Average ended 0.62 per cent lower in yesterday’s trade.

Stocks to watch-March 22

(Reuters):GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange fell 0.24 percent,while the MSCI-Asia Pacific index excluding Japan is up 0.06 percent.

Asian shares and the euro were pressured on Friday by fears Cyprus may default on its debt,while deteriorating euro zone economic activity further underscored the troubles ailing the region.

U.S. stocks fell on Thursday as Oracle’s revenue fell far short of expectations and worries intensified about the effect of Cyprus’ troubles on the euro zone.

FACTORS TO WATCH

Steel Authority of India Ltd set the floor price for the government’s stake sale in the company at 63 rupees per share.

RBI Governor to speak at Banker’s Club in Bangalore

FINANCIAL/REGULATORY

The United Nations urged Sri Lanka in a resolution on Thursday to carry out credible investigations into killings and disappearances during its nearly 30-year civil war,especially in the brutal final stages in 2009.

The RBI dismissed allegations of weaknesses in compliance of regulations by banks and said a recent undercover investigation by a journalist did not mean there were transactions in violation of law.

ENERGY/COMMODITIES

Cairn India will start commercial sale of gas from an onshore oilfield in Rajasthan to fertiliser firms in Gujarat from this month

Sri Lanka announced plans to partially take over a strategic oil storage depot from the Indian Oil Corp Ltd’s local arm.

Moody’s Investors Service has placed the “Ba1” corporate family rating and the “Ba3” senior unsecured rating of Vedanta Resources Plc on review for possible downgrade.

AUTOS

Jaguar Land Rover Plc the luxury unit of Tata Motors Ltd ,said Thursday sales in China will not be affected by new emissions norms in the country.

The government is trying to amend the classification of sports utility vehicles to remove some of the uncertainty about which cars would be taxed under a recently unveiled proposal.

AIRLINES

India has scrapped government control over the acquisition of planes by local carriers,a government statement said,removing a major bureaucratic hurdle for the country’s airlines in their expansion.

RETAIL

IKEA’s investment proposal is expected to be approved in a week,Times of India reported,citing Commerce Minister Anand Sharma.

TELECOMS

Videocon will offer voice and data services at about 25 percent below current market rates.

The nine mobile phone companies whose permits were cancelled in February 2012 could face additional 27.64 billion rupees in charges towards airwaves they had held.

PHARMA

Firms currently selling essential medicines at less than government-mandated price caps will have to freeze rates at existing levels and will not be given the option of matching the higher ceiling price.

Nordion Inc and Dr. Reddy’s Laboratories Ltd settled claims which is expected to result in a loss of $1.4 million for Nordion. Details of the settlement were not disclosed.

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