Jun 13, 2012 10:15 PM IST | Source: CNBC-TV18
Auto stocks take beating in dull mkt session: Udayan
CNBC-TV18â€™s managing director Udayan Mukherjee termed the session as dull session and filled with low volumes and range bound trading. The Nifty spent most of the day between 5,100 and 5,150 before closing flat just above Tuesdayâ€™s level.
CNBC-TV18's managing director Udayan Mukherjee termed the session as dull and filled with low volumes and range bound trading. The Nifty spent most of the day between 5,100 and 5,150 before closing flat just above Tuesday's level.
A few stocks like HUL, L&T and ONGC held the index out even as European markets came off a little bit towards the end of the session.
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But auto stocks were under pressure on speculation of additional taxes on diesel cars and marked a weak point in the market. Reliance was also a bit off colour today.
In the midcaps, there was nothing special. Kingfisher, the UB Group stocks and other aviation stocks were very active.
Reliance Communications moved on hopes of a flag-listing in Singapore. Nagarjuna Construction, IGL, PFC, REC and HOEC were some of the gainers.
Unitech, GVK, Lanco , Dish TV and Voltas were some of the losers in an otherwise very unremarkable session at the market as it sought ground in a trading range.
But the big trigger for the market is expected to be the monetary policy on Monday. Most participants in the equity and the bond markets have already seemed to price in a cut in repo and CRR rates.