Monday, November 29, 1999

BSE Sensex rises 0.3 pct; Maruti tumbles

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MUMBAI (Reuters) The BSE Sensex rose 0.3 percent in early trade on Monday, with ICICI Bank and Reliance Industries leading the rise, taking cues from strong Asian markets.Maruti Suzuki dropped more than 10 percent after the top car maker reported a surprise 20 percent fall in quarterly net profit on Saturday, hit by high raw material costs, an increase in royalty payments, and weakening of the euro.At 9:01 a.m. (0331 GMT), the 30-share BSE index was up 0.32 percent at 18,189.10 points, with 23 components advancing, after opening lower.The 50-share NSE index was up 0.2 percent at 5,460.25.(Reporting by Ami Shah)(For more business news on Reuters India click http://in.reuters.com)
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