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Aug 02, 2012, 02.51 PM IST
Indian equity benchmarks continued to trade lower with a narrow range of 5210-5230 since early trade. State-owned power producer NTPC topped the buying list with gain of 3% whereas Sterlite Industries, Tata Motors and Cairn India tanked 2% each.
Country's largest oil & gas producers Reliance Industries and ONGC were down more than 1%. Lenders State Bank of India and HDFC Bank too declined over 1%.
Among metals, Tata Steel and Sterlite Industries dropped 1-2% whereas Jindal Steel rose over 1%.
Housing finance company HDFC, FMCG major Hindustan Unilever and software services exporter Infosys were down between 0.5% and 0.65%.
Cigarette major ITC went up nearly 1%. Engineering and construction major Larsen & Toubro and state-owned power equipment manufacturer BHEL moved up 0.6% each.
Most active shares on exchanges were NIIT Tech, NTPC, SBI, United Spirits (USL), ICICI Bank, L&T and Reliance Industries.
In the second line shares, Schneider Electric, Alstom T&D, Page Industries, GSFC and CRISIL gained 3-4% while NIIT Tech, Glodyne Tech, Shree Global, BASF and Religare Enterprises lost 3-6%.
European shares were mixed ahead of a key European Central Bank (ECB) meeting. Traders say the meeting must result in fresh stimulus measures to fight the region's sovereign debt crisis if equity markets are to avoid a sharp retreat.
Indian equity benchmarks remained under pressure due to profit booking. The market had rallied nearly 600 points in previous four sessions on hopes of some monetary measures by Federal Reserve to revive sluggish US growth and some policy action by European Central Bank (ECB).
Indian shares remained marginally lower due to selling in State Bank of India and Tata Motors. HDFC Bank, HDFC, ONGC and Infosys too were under pressure. However, the buying in Bharti, L&T, ICICI Bank and ITC has capped the downside.
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy