The Sensex declined 81.11 points to 24819.52 after
recovering 180 points from day's low. The Nifty fell 22.40 points to 7591.95
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Live Update
The market breadth was positive as about 1149 shares
advanced against 978 declining shares on BSE.
Maruti Suzuki shares lost 3.4 percent intraday on worries of
rising Japanese yen against US dollar that may hurt company's margin
performance.
In three months, Maruti shares lost 15 percent. Analysts say
every 10 percent appreciation in yen have 200 basis points negative impact on
company margins.
The country's largest car manufacturer has exposure to the
yen in form of royalty paid to Suzuki Corporation (the parent company) and
import of raw material. Its about 25 percent cost is yen denominated, out of
which 20 percent comes from yen denominated imports and 5 percent of sales from
royalty outgo.
Infosys, ITC, ICICI Bank, L&T and SBI were
down 1-1.5 percent while Lupin and Dr Reddy's Labs topped buying list on
Sensex, up over 1.5 percent.