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Market ends in red
Market ends in red. Amidst choppy trade on Friday, though the markets earned in the early gains whipped off in the late trade weighed down by banking, IT and auto stocks.
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Mumbai: Amidst choppy trade on Friday, though the markets earned in the early gains whipped off in the late trade weighed down by banking, IT and auto stocks. Sensex ended down 45 points at 26,768 and Nifty closed 16 points lower at 8,115. While broader markets closed with marginal gains. Experts opine that the market will remain in a consolidation mode as the sentiment still not improved due to delayed economic recovery.
Analysts fell that the market is still weak and profit booking is seen at higher levels. Interestingly, the FIIs have bought shares worth a net of Rs 512 crore on Thursday, according to exchange release. On the sectoral front, banks index fell by 0.9 per cent followed by Auto and IT indices, while the major gainers include FMCG and metal indices. Coal India is the top gainer, gaining over 4 per cent while Healthcare shares also gained with Sun Pharma up about 2 per cent.
Coming to FMCG pack, following southwest monsoon hitting Kerala, ITC and HUL closed each 1 per cent up. Other gainers include: L&T, ONGC, NTPC and GAIL. On the other hand, banking shares are major losers with HDFC Bank, ICICI Bank and Axis Bank down with 0.2 and 2.2 per cent, each. Auto major, Tata Motors down 2 per cent, TCS closed 1.3 per cent down.
The gainer: Coal India, up 4.44 per cent at Rs 405.60, Gail, up 3.42 per cent at Rs 386.80, NTPC, up 2.52 per cent at Rs 140.15, ONGC, up 2.32 per cent at Rs 308.40; and Sun Pharma, up 1.97 per cent at Rs 848.55.
The losers were: ICICI Bank, down 2.18 per cent at Rs 284.50; Tata Motors, down 2.11 per cent at Rs 442.60; HDFC, down 1.62 per cent at Rs 1,198; Axis Bank, down 1.38 per cent at Rs 548.35; and Tata Consultancy Services (TCS), down 1.30 per cent at Rs 2,572.35.
