A Choppy Session, Sensex Closes Below 19500
Vinaya Patil / 07 Jun 2013
The Indian markets were trading flat today but recovered some losses to witness profit booking. Nifty closed down at 5881 and Sensex closed at 19,429. Both the indices ended in red by 0.68% and 0.46%.
The Indian markets were trading flat today but recovered some losses to witness profit booking. The Nifty took a U-turn and sank below 5900. It was down by 40 points to close the day at 5881 and Sensex closed at 19,429, down by 90 points. Both the indices ended in red by 0.68% and 0.46%.
The advance–decline ratio ended on a negative side at the end of day. On the NSE, 580 shares closed in green, while 830 shares ended the day in red.
Top 5 Nifty Gainers: TCS closed the day with gains of 3.2% as the top gainer, followed by Dr Reddy’s Labs, Lupin, BPCL and Infosys.
Top 5 Nifty Losers: JP Associates ended the day as the top Nifty loser, down by 3.5%, followed by Axis Bank, Bank of Baroda, M&M and Bharti Airtel.
Eleven out of the 13 sectors ended on a negative note. Bank is the top loser for the day, down by 190 points, Auto and Metals are also down by 155 points and 99 points respectively. Capital Goods and Consumer Durables indices are losers, down by 92 points and 72 points respectively.
The Asian markets closed on a negative note. Hang Seng was the top loser down by 263 points. Nikkei ended in red declining by 26 points, while China’s Shanghai Composite, Straits Times, and Taiwan indices ended on a negative note.
Buzzers: Adani Power topped the list of losers, shedding around 7%. Spot electricity rates have fallen sharply as state electricity boards are refusing to buy power, and are unable to recover costs due to low tariffs and distribution losses.
Polaris led the gainers’ list in the IT sector, climbing over 8% over talks that the company was close to finalising the sale of its IT services division.
Nifty could not manage to hold above the 5940 level and closed below its crucial support at the 5900 level.
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