Profit booking in heavyweights such as Reliance, SBI, TCS & Infosys in the last leg of the trade dragged markets into the red zone. After trading in the narrow band of 5445 to 5480 for most part of the day, Nifty touched a low of 5432 in the last lap after touching a high 5470 at noon. Even Sensex was tiring out and failed to break 18,250 mark, it touched an high of 18,245 and touched a low of 18,118 in trade today. Markets have been trading in the sideways
zone for quite some time without any direction.
The Nifty closed lower by eigth points at 5439 and Sensex ended down 29 points at 18,143.
Sell-off in frontline stocks like Reliance down Rs 5 at Rs 1002, SBI, down Rs 21 at Rs 2625 dragged the BSE benchmark down by 20 points.
Consumer Durables index was the sectoral gainer, up 1% led by gains in Gitanjali Gems, up 9.9% at Rs 195, Rajesh Exports and
Blue Star also ended up almost 2%. Followed by defensive sector FMCG which was the second lead gainer up 0.7% led by ITC, up 1.9% at Rs 159 and Godrej Consumer, up 1.7% at Rs 361.
Banking Index was the sectoral loser, down 0.6% led by losses in Federal Bank, down 2.4% at Rs 329, IDBI Bank, down 1.4% at Rs 119, Indusind and Kotak Mahindra bank ended down over 1% each.
Selling was also seen in IT stocks, Oracle Finance ended down 3% at Rs 2115, Patni Computer fell 1.9% at Rs 453 & TCS dropped 1.3% at Rs 866 dragging the index down 0.5%
Even PSU stocks declined in trade today, the index fell 0.5% led by losses in HMT down 2.95% at Rs 78, Bank of Maharashtra down 3.09% at Rs 64.3, MMTC down 2.9% at Rs 1576 and PSU midcap banks Dena Bank, Andhra Bank, Oriental Bank all down by over 2%
Tata Motors was an outperformer up 3.9% at Rs 894, it was also the volume topper on BSE, 128.70 cr shares of Tata Motors changed hands
ITC ended up 1.9% at Rs 159, HDFC surged 1.4% at Rs 3070 and Jindal Steel surged 1.16% to Rs 625
Also media stocks remained in limelight after the news of TRAI move on digitization, Den Network ended up 10.2% at Rs 236, Hathway Cable surged 8.4% at Rs 16.35, Dish TV rose 6.41% at Rs 50 pulling the midcap index up 0.16%
Also Shipping stocks continued the upward run led by Essar Shipping up 6.06% and Shreyas Shipping up 9.93% on posiitve earnings.