Markets End Down; IDFC Shines
Vinaya Patil / 22 Mar 2013
The Indian markets saw a volatile session in the last hour of trade. Nifty, after registering a low of 5631.80, went on to hit a new intraday high of 5691, but spared all its gains and ended with a marginal loss of 7 points at 5651 and Sensex closed at 18,737. Both the indices ended lower by 0.13%-0.30%.
The Indian markets saw a volatile session in the last hour of trade. Nifty, after registering a low of 5631.80, went on to hit a new intraday high of 5691, but spared all its gains and ended with a marginal loss of 7 points at 5651 and Sensex closed at 18,737, down by 55 points. Both the indices ended lower by 0.13%-0.30%.
The advance–decline ratio ended on a negative side at the end of the day. On the NSE, 1004 shares closed in red and 424 shares closed in green.
Top 5 Gainers on NSE: IDFC ended up by 4.83% as the top gainer on NSE, followed by Ambuja Cement, Bank of Baroda, Bajaj Auto and Jindal Steel and Power.
Top 5 Losers on NSE: DLF ended the day as the top loser on NSE, down by 3.55%, followed by Ranbaxy, Tata Steel, SBI and Sun Pharma.
Most of the sectors ended in red. Metals, Power and Capital Goods ended on a positive note. Consumer Goods, Realty and IT were some of the prominent laggards in the sectoral pack.
Meanwhile, the European markets are trading in a negative zone. The CAC 40 is trading lower by 0.59%, followed by DAX which is trading lower by 0.36% and FTSE 100 down by 0.11%.
Most of the Asian market ended in red. Japan’s Nikkei 225 closed down by 2.41%, followed by Hang Seng, Straits Times and Taiwan Weighted. Shanghai Composite ended flat with a positive bias.
Buzzers: Stocks of the state-owned Metals and Minerals Trading Company (MMTC) have been under pressure ahead of a likely offer for sale issue in April this year. The share ended down by 5% in today’s trading session. The stock has tanked almost 28% in eight consecutive sessions and nearly 60% in the past one month.
SAIL’s shares ended marginally down after its offer for sale (OFS) issue opened today. The floor price of issue is fixed at Rs 63 per share and the government divested over 5% stake in the company to mop up around Rs 1,500 crore. The stock closed at Rs 63.35.
As we mentioned in our update earlier that Nifty might take support around the levels of 5630 and may bounce, it did so and made a new high but it was not able to sustain at the higher levels.
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