Edelweiss Fin shares pare early gains; end over 2% lower

Paring its initial gains, shares of Edelweiss Financial Services ended over 2 per cent down on profit-booking in weak stock market today.
After surging 8.25 per cent to Rs 64.90 -- its 52-week high in intra-day trade, shares of Edelweiss Financial finally ended at Rs 59.10, down 1.42 per cent on the BSE.
At the NSE, the scrip settled 2.41 per cent lower at Rs 58.70.
The stock had rallied sharply in early trade after ace investor Rakesh Jhunjhunwala picked up one crore shares of the company for an estimated Rs 55 crore through the open market route.
On the volume front, 62.81 lakh shares of the company changed at the BSE, while over 2 crore shares were traded at the NSE during the day.

Jhunjhunwala purchased the shares (amounting to 1.3 per cent stake) of the financial services firm for an average price of Rs 55 apiece, according to the bulk deal information with the BSE yesterday.
In the stock market, the BSE benchmark Sensex ended at 25,228.17, down 348.04 points.