6:00 PM Mumbai, 8:30 AM New York – Stocks in Mumbai traded lower. Hindalco plans to raise as much as $580 million. Reliance Industries declined as investors question the benefits of acquiring bankrupt LyondellBasell to shareholders. Rupee traded lower to 46.57 against the dollar.

The Sensex index in India decreased 49.10 or 0.2% to 17,131.08 and CNX Nifty index fell 13 or 0.2% to 5,090.55. Among the Sensex 30 stocks, 13 rose and 17 fell.

On BSE trading, 1,370 stocks advanced, 1,371 declined and 87 were unchanged.

Reliance Industries declined after investors worried that the deal between the company and LyondellBasell may not be good for shareholders. Metal and consumer goods stocks also fell but automobile an IT stocks gained.

C. Rangarajan, Chairman of the Prime Minister''s Economic Advisory Council, said in an interview to a news agency on Tuesday that India can absorb nearly $100 billion in capital inflows, nearly double the current flows before it needs to take strong restrictive measures. He said the capital flows during the current year would between $57 and $60 billion, which is manageable.

Rupee edged lower 13 paisa to 46.57 against one dollar.

Gainers & Losers

Balarampur Chini Mills Limited gained 6.0% to Rs 133.40 on bargain hunting after the stock corrected 12.5% in the preceding three sessions.

Bharti Airtel Limited rose 2.2% to Rs 282.00.

Cipla Limited added 1.6% to Rs 327.20 after the company got U.S. Food & Drug Administration approval for Lopinavir/Ritonavir tablets.

Diamond Power Infrastructure Ltd fell 1.3% to Rs 174.30 announced the order to supply 300 km of 33kV class power cables and 14 units of 220 kV class power transformers.

Geometric Limited surged 9.9% to Rs 53.70.

HCL Technologies Limited decreased 0.3% to Rs 342.30 after the company secured an overseas contract worth $200 million.

Hindalco Industries Limited rose 0.07% to Rs 133.90 after the aluminum maker said board approved Rs 2,900 crore offering.

Maruti Suzuki India Limited gained 2.6% to Rs 1,600.00 and the company expects to produce one million vehicles by the end of the current fiscal year, I.V. Rao, managing executive officer of engineering told reporters in New Delhi on Monday.

Mahindra & Mahindra Limited added 1.9% to Rs 1,062.10 after the vehicle maker plans to bid for domestic defence projects worth $3.5 billion over the next seven years, chief executive said on Monday.

Pratibha Industries Limited increased 7.2% to Rs 294.00 and it won Rs 30.4 crore order from Karnataka Urban Water Supply & Drainage Board.

Strides Arcolab Limited increased 3.3% to Rs 199.30 after the drugmaker is in advanced talks with private equity firm General Atlantic to sell at least 30% stake in the injectable business for about $100 million, the Economic Times said on Tuesday.

Swaraj Mazda Limited climbed 4.8% to Rs 278.00 after the light commercial vehicle manufacturer said Tata Motor is looking to acquire private equity firm Actis'' stake in the company, the Economic Times reported on Tuesday.

Sun TV Network Limited climbed 0.8% to Rs 336.00 after the company said it is increasing advertisement rates in its flagship Tamil channel Sun TV ranging from 9% to 33% from January next year.

Videocon Industries Limited advanced 6.1% to Rs 234.50 and the company said it has discovered additional crude oil in Brazil''s offshore Campos Basin.