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The benchmark BSE Sensex today nosedived 297 points to its lowest in three-and-a-half months at 27,437.94 after IT major Infosys shares tanked 6 per cent on lower-than-expected earning numbers. On a sequential basis, Infosys' net profit fell 4.7 per cent in the March quarter, while revenue declined by 2.8 per cent, the company reported today. Brokers said, continued capital outflows by foreign funds on tax claims despite government's clarification, muted earnings and forecast of a below-normal monsoon, were major factors behind the plunge. Earlier in the day, on controversial tax issue faced by foreign investors, the CBDT said, claims coming under the ambit of DTAAs will be settled within a month of being filed. Concerns of non-DTAA foreign investors, however, continue to weigh on sentiments. Moreover, weakness in the rupee, which also fell to a fresh three-month low of 63.60 (intra-day), had a negative impact. The 30-share BSE index tumbled by 297.08 points or 1.07 per cent to 27,437.94, a level last seen on January 14, when it closed at 27,346.82. Intra-day, the gauge shuttled between 27,829.11 and 27,344.70. This is the seventh fall in last eight sessions. On similar lines, the NSE Nifty dropped 93.05 points or 1.11 per cent at 8,305.25 after moving between 8,413.30 and 8,273.35, intraday. Besides Infosys, other major on the Sensex included, Cipla, Sesa Sterlite, Hindalco, L&T, HDFC Ltd, Coal India, Axis Bank, Dr Reddy, GAIL, Hindustan Unilever and ICICI Bank. Sectorwise, the BSE realty index suffered the most by falling 3.85 per cent, followed by consumer durables 3.18 per cent, IT 2.78 per cent, capital goods 2.57 per cent, teck 2.33 per cent, metal 1.65 per cent, banking 1.33 per cent, healthcare 1.09 per cent and power 0.96 per cent. Selling pressure was also seen in smallcap and midcap indices as they fell 2.66 and 1.62 per cent, respectively. Foreign Portfolio Investors sold shares worth Rs 276.83 crore, yesterday as per provisional data. Globally, a mixed closing at other Asian markets and a better trends at European markets influenced sentiment stemmed losses to some extent, brokers said.


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Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
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In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
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The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
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