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Jul 20, 2012 02:57 PM IST | Source:

Nifty struggles around 5200; banks, cap goods down

It's a weak Friday for the Indian equities markets, the Nifty is struggling around 5200 as banks, capital goods and power drag. Modest cuts for the midcap universe as infra and textile drag.

It's a weak Friday for Indian equities markets, with the Nifty struggling around 5200 dragged down by banks, capital goods and power. The midcap space also sees modest cuts as infra and textile drag. Some buying interest was seen in metal and auto stocks.

Refinery major Reliance was trading flat ahead of its numbers today. It is likely to post a 3% sequential rise in profits, GRMs likely to be slightly higher than USD 7 per barrel.

Further crack seen in banking stocks; Kotak Mahindra, Federal Bank, IndusInd Bank, ICICI Bank and HDFC Bank were down 1-3%. The BSE Capital Goods, power and realty indices were trading weak.

The Sensex was down 115.46 points or 0.67% at 17163.39, and the Nifty was down 36.95 points or 0.70% at 5205.75

About 1082 shares advanced, 1439 shares declined, and 914 shares remained unchanged.

ITC, ONGC, Reliance, HDFC Bank, Infosys and ICICI Bank were negative contributors to the bourses while TCS, HUL,, Bharti Airtel, Tata Steel and Coal India positive contributors.

Top losers on the Sensex were Dr Reddys Labs down 2.87%, BHEL down 2%, Cipla at Rs 327.50 down 1.37%, HDFC at Rs 685 down 1.23% and ICICI Bank at Rs 939 down 1.16%.

However, top gainers on the Sensex were Bajaj Auto at Rs 1,585.05 up 2.31%, TCS at Rs 1,224.15 up 1.95%, Maruti Suzuki at Rs 1,134 up 1.49%, Jindal Steel at Rs 430.25 up 1.13% and Hindalco at Rs 123.40 up 0.98%.

Tech major Infosys was trading at Rs 2,222.00 down 0.93% from its previous close of Rs 2,242.85.

Cigarette major ITC was trading at Rs 252.90 down 0.47% from its previous close of Rs 254.10.

Refinery major HPCL was trading at Rs 342.00 down 1.99% from its previous close of Rs 348.95.

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