Don’t miss the latest developments in business and finance.

Selling pressure takes toll

STOCK REPORT

Image
Press Trust Of India Mumbai
Last Updated : Feb 06 2013 | 5:51 AM IST
Late selling by funds and retail investors reversed an early rising trend as the Bombay Stock Exchange benchmark, Sensex, today lost 24.87 points to end at 11,699.05.
 
The 30-share sensitive index touched a high of 11,763.36 points and a low of 11,675.08 points during the day in choppy trade. Similarly, the National Stock Exchange index Nifty ended down by 16.45 points down at 3,413.90 after moving between 3,452.30 and 3403.65 points during the session.
 
Stock brokers said squaring up of outstanding positions by funds and other players in view of expiry of August contract in the F&O segment major players mainly led to a fall in the stock prices.
 
The major losers were stocks of metals, oil and gas, auto and Capital goods segment, pushing the benchmark index in the negative zone.
 
The S&P CNC Nifty today turned weak and fell by 16.45 points to end at 3,413.90 due to fresh bouts of selling by operators and foreign institutional investors (FIIs) who were squaring up their positions in the futures and options (F&O) segment on the last day of the August contract.
 
The selling pressure was so intense that the firm trend in the Asian markets was ignored. In the Asian markets, Nikkie rose 268.74 points, while Hang Seng was up 107 points and Kospi went 11.39 points high.
 
The Nifty, after a low start at 3,404.50 points, moved in a wide range of 3,452.30 and 3,403.65, before ending at 3,413.90, showing a fresh loss of 16.45 over Wednesday's close of 3,430.35 points.
 
Major losers were Zee Tele, Gail, Jet Air, BPCL, Sail, RIL, Tata Steel, RCOM, Satyam, Rel Cap and Centure Textiles.

 
 

Also Read

First Published: Sep 01 2006 | 12:00 AM IST

Next Story