SENSEX PLUNGES 430 PTS ON PROFIT-BOOKING

Monday, May 13, 2013 SENSEX TANKS 430 PTS ON HEAVY PROFIT-BOOKING   There was blood-bath in markets on Monday as a wave of selling, triggered by a slew a factors like profit-booking and ballooning trade deficit, shaved over 430 points off Sensex -- its biggest fall in 14 months -- leaving investors poorer by Rs 1 lakh crore. Signs of a recovery in the U.S. economy also made investors jittery as they feel a portion of global liquidity flows could ease as the Fed starts tightening its monetary policy. Sensex closed at 19691.67 while Nifty closed at 5980.45 down 127 pts. FMCG, metal and capital goods shares were the worst performers, as investors targeted stocks that had run up the most in the recent rally. ITC topped the list of frontline losers, shedding over 5%. read more   SOME CONG LEADERS WANT PM REPLACED SOON   A section within the Congress party is keen on replacing Dr Manmohan Singh as Prime Minister. According to CNN IBN sources, the leaders want Singh replaced before the monsoon session of Parliament. While there is no consensus yet on the alternative name, sources said that Defence Minister AK Antony and Finance Minister P Chidambaram could be considered. Meanwhile, a few leaders are in favour of Rahul Gandhi taking over the reins. read more   LEAD STORIES APRIL TRADE DEFICIT WIDENS TO $17.8 BN ON GOLD IMPORTS  Exports posted a growth of 1.68% at $24.16 bn in April, but import of gold rose by 138% to $7.5 bn in April (YoY), widening the trade deficit. read more RETAIL INFLATION FALLS TO 9.39% IN APRIL  Inflation was at single digit for the first time this year.Cereals recorded the highest inflation of 16.65%. Food & beverages inflation was at 10.61%. read more TOP STORIES • RBI puts restrictions on gold imports by banks   • RBI probes Cobrapost sting, major irregularities seen   • Gold, silver prices fall on Askshaya Tritiya day   • Rupee at 54.73/$ down 6p; recovers from 2-month lows   • FII ownership of Sensex stocks at 8 yr high   • Rlys buys Premier Auto's land near Mumbai   • Eveready plans to sell tea factory assets   • AI to start courier services for central, state govts   • Bank of Baroda Q4 net falls 32% to Rs 1,029 cr (YoY)   • IIFCL net up 79% at Rs 1,047 cr in 2012-13   • Network18, TV18 are back in black   • Just Dial to raise up to $174 mn through IPO   • Goldman picks up 49% stake in BPL Medical Tech   • LBT is faith-based levy, says Maharashtra CM   • Siddaramaiah sworn in as Karnataka Chief Minister   • Nawaz Sharif invites PM for swearing-in ceremony   • Samsung tests 5G, claims data speed of 1GB/second   • Karachi stocks hit all-time high on Nawaz Sharif win   • Bloomberg admits terminal snooping   • Libor likely to be replaced by a 'dual-track' system: FT   more stories TOP VIDEOS The Buck Has To Stop With The Prime Minister; Expect Cabinet Reshuffle Before Monsoon Session: Shobhna Bhartia, Chairperson, Hindustan Times Group   Periodic Call Auction Bad For Investors: Ashish Chugh, Investment Analyst & Author, Hidden Gems   Watch This Video To See Virgin Boss Sir Richard Branson Dressed Up As A Female Flight Attendant After Honouring A Bet He Lost To Air Asia CEO Tony Fernandes   AT A GLANCE BSE 19691.67 -430.65 NSE 5980.45 -126.8 TURNOVER Rs. 174,783 cr BSE CASH Rs. 1,524 cr NSE CASH Rs. 8,708 cr NSE F&O Rs. 144,440 cr BULLION GOLD 26772 -227 SILVER 44967 -317 CRUDE NYMEX 94.9 -1.14 BRENT 102.54 -1.37 FOREX $ / Re 54.73 -0.07 £ / Re 83.989 -0.2 € / Re 71.072 +0.06 EVENTS TO WATCH 14 May WPI Inflation For April Delhi HC To Meet Over Sterlite Copper Smelter DLF's $354 Mn Share Sale High Level Committee Meet On ECBs IPL 6, Match 58, Royal Challengers Bangalore Vs Kings XI Punjab, Bangalore IPL 6, Match 59, Chennai Super Kings Vs Delhi Daredevils, Chennai 15-26 May Cannes Film Festival, France 16 May IMG Panel On Chit Funds, NBFC Norms IPL 6, Match 62, Kings Eleven Punjab Vs Delhi Daredevils, Dharmasala

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"I have a simple question to Delhi government that China enters in our land and pulls back,that's one thing. But what are the reasons we have pulled back from our own land?Can you imagine our soldiers getting beheaded? And after some days Prime Minister of that country being offered chicken biryani here." Narendra Modi Chief Minister, Gujarat "LBT, being account-based, is a faith-based levy, wherein the Government expects the importers to maintain truthful accounts of their imports and pay their taxes accordingly, filing just two returns every year in the process. LBT is expected to promote transparency in financial transactions." Prithviraj Chavan Chief Minister, Maharashtra "Bar Council has become ineffective. No action is taken against erring lawyers and we have to suffer. We are actually the victim and lawyers are making money." Justices B S Chauhan & Dipak Misra Supreme Court