Profit booking breaks Nifty's winning streak
Mumbai, Mar 30: Profit booking forces Nifty to break its four-day winning streak. After enjoying an uptrend for four session, Nifty on Tuesday, Mar 30 closed below the psychological 5300 mark.
Sensex also closed lower due to selling in technology, pharma, telecom, banking & financial, auto and select cement companies' shares.
BSE Sensex shut shop at 17,590.17, down 121.18 points while NSE Nifty shed 40.40 points to end at 5262.45.
However, ICICI in banking space and Tata Motors in automobile arena were exceptions.
The
gainers
for
the
day
were
DLF,
Sterlite,
BHEL,
Tata
Motors,
Cairn,
ICICI
Bank,
SAIL,
ONGC,
HUL,
PNB,
Unitech,
ACC
and
ABB.
4:18
PM
Nifty slips below 5300 mark
At around 1 pm, Nifty was seeing volatility while the benchmark tried to stay on the positive side. It was holding on to the 5300 mark on the back of the buying interest in oil & gas, metal, realty, auto, FMCG and select banking stocks along with Bharti and BHEL.
At 2: 40 pm, NSE Nifty let go of the 5300 mark and slipped to 5280.25, shedding 22.60 points while BSE Sensex was at 17,644.56, down 66.79.
However, the gains were capped by the continuing buying in technology and select capital goods stocks. HDFC Bank, Sun Pharma, Axis Bank, HDFC, Idea Cellular, Cipla and Reliance Infrastructure also dipped.
The top gainers were DLF up 3.86 per cent; M&M up 2.41 per cent; Sterlite Industries up 2.03 per cent; Jaiprakash Associates up 1.66 per cent; ACC up 1.55 per cent; Cairn India up 2.19 per cent and Suzlon Energy up 1.93 per cent.
The
broader
indices
were
outperforming
the
benchmarks.
2:
45
PM
Nifty hovering around previous closing value
Nifty is hovering around its previous closing value while Sensex was just up 7 points. At 11: 21 am, BSE Sensex was trading at 17718, up 7 points while the Nifty was at 5301, down 0.9 points.
Technology and capital goods stocks were reeling under selling pressure. HDFC Bank, HDFC, Sun Pharma, ITC, Axis Bank, Grasim and Idea Cellular also dipped.
On the positive side, buying continued in commodity stocks like metal and oil & gas exploration on rise in commodities. Among the other gainers were realty, auto and select cement stocks along with SBI, ICICI Bank, Bharti Airtel, HUL and Ranbaxy Labs.
Among
the
midcaps,
Asian
Star,
JM
Financial,
Shriram
City,
Andrew
Yule
and
JSL
gained
4.5
to
13
per
cent.
However,
the
losers
were
MVL,
Sunteck
Realty,
Engineers
India,
Deccan
Chronicle
and
Patni
Computer,
down
2.4
to
4.5
per
cent.
12:
31
PM
Nifty
opens
positive;
Unitech,
RIL,
ICICI
up
After
a
taking
on
a
rally
to
hit
52-week
high,
Nifty
yet
again
opened
the
day
on
a
strong
note.
Sensex
also
followed
the
suit.
At 9:02 am, BSE Sensex was trading at 17767, up 56 points and NSE Nifty was at 5318, up 15 points. The CNX Midcap gained 38 points and went up to 7705.
Buying was seen in metal, oil & gas exploration, auto, telecom, power, cement and realty stocks.
Unitech, Sterlite Industries, Cairn, Suzlon Energy, Ranbaxy Labs, Jaiprakash Associates, Hero Honda, Reliance Power, SAIL, Ambuja Cements, DLF, Reliance Industries, ONGC and ICICI Bank were the frontliners enoying buying interest.
HUL was trading on the negative side.
Among
the
midcaps
and
smallcaps,
Pipavav
Shipyard
was
up
2
per
cent,
Gujarat
NRE
Coke
and
NMDC
went
up
1
to
1.5
per
cent,
Suven
Life
and
Glenmark
Pharma
rose
1
to
2
per
cent,
Jubilant
Foodworks
went
up
2
per
cent.
However,
Texmo
Pipes
slipped
2
per
cent
and
Valecha
Engineering
plunged
4
per
cent
due
to
profit
booking.
9:44
AM
OneIndia News