Sensex down 193 pts on profit-booking

The wide-based National Stock Exchange Nifty Index shed 59.15 points,or 1.26 per cent,to 4,634.00.

Brokers said apart from profit-booking by participants,a weakening trend on other Asian bourses also dampened the trading sentiments here,giving fuel to the selling pressure.

IT,metals,auto,capital goods,realty and banking stocks,which recorded significant gains in yesterday’s trade,succumbed to profit-bookming,dragging down the Sensex.

Meanwhile,in the Asia region,Hong Kong’s Hang Seng Index was down by 0.68 per cent and Japan’s Nikkei shed 0.62 per cent in morning trade today.

PREOPEN: Sensex seen lower,techs eyed after Oracle

Indian shares are set to start lower on Thursday after gaining 3.4 per cent in the previous session,as concerns of slowing domestic growth and government policy inaction continue to haunt investors.

Mostly subdued other Asian markets will also add to the downward pressure,traders said.

Software exporters such as Tata Consultancy Services,Infosys Ltd and Wipro could fall after dismal results from Oracle Corp,the world’s No.3 software maker,stoke renewed fears of a slowdown in global technology spending.

Infosys’ Nasdaq-listed shares fell 4.1 per cent on Wednesday,while Wipro eased 0.5 per cent after Oracle’s first earnings miss in a decade.

Asian shares eased on Thursday as doubts remained over how much of the funds banks raised from an inaugural long-term European Central Bank tender will actually flow into struggling euro zone economies and help restore confidence.

By 0245 GMT,the MSCI’s broadest index of Asia Pacific shares outside Japan was down 0.8 per cent,while the Nifty India stock futures in Singapore were down 0.9 per cent,pointing to a lower opening for the domestic market.

On Wednesday,India’s main BSE index rose to its highest close since Aug. 29,snapping five sessions of losses.

STOCKS TO WATCH

* United Spirits Ltd,after the liquor maker said its board approved raising up to $225 million through foreign currency convertible bonds.

* Financial Technologies (India) Ltd,after the company said it repaid $133.16 million outstanding amount against foreign currency convertible bond raised in 2006.

* SEL Manufacturing Co Ltd,after the textiles firm said its board has approved allotment of 12 million convertible equity warrants at Rs 15.25 each to promoters.

FACTORS TO WATCH

* Euro tense as ECB tender fails to impress

* Oil rises as US stockpiles slump to near 3-year low

* Shares,euro ease as bank funding doubts persist

* Oracle sinks Nasdaq; Dow,S&P hold firm

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