Sensex, Nifty open 0.5% lower; SKS Microfinance up 17%

The BSE Sensex and NSE Nifty opened 0.5% lower on Friday morning following weak Asian cues. Oil & gas and technology stocks were under pressure.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney SME Special
moneycontrol.com

Home » News » Markets » Local Markets

May 11, 2012, 09.51 AM | Source: Moneycontrol.com

Sensex, Nifty open 0.5% lower; SKS Microfinance up 17%

The BSE Sensex and NSE Nifty opened 0.5% lower on Friday morning following weak Asian cues. Oil & gas and technology stocks were under pressure.

Like this story, share it with millions of investors on M3

Sensex, Nifty open 0.5% lower; SKS Microfinance up 17%

The BSE Sensex and NSE Nifty opened 0.5% lower on Friday morning following weak Asian cues. Oil & gas and technology stocks were under pressure.

Post Your Comments

Share Cancel

09:20
The BSE Sensex and NSE Nifty opened 0.5% lower on Friday morning following weak Asian cues. Oil & gas and technology stocks were under pressure.

SKS Microfinance shot up 17% after cabinet cleared Microfinance Bill yesterday, overriding state legislations on microfinance institutions.

The BSE benchmark was down 33.54 points at 16,386.51 and the NSE benchmark declined 14 points or 0.28% to 4,951.65.

IDFC, Maruti Suzuki, Asian Paints, PNB, Axis Bank, State Bank of India, Kotak Mahindra Bank, JSPL, Ambuja Cements, SAIL, Hindalco, ITC, Cairn and ONGC were under pressure in early trade.

However, Cipla gained 1% after it met analysts' expectations for fourth quarter numbers.

BPCL, Sesa Goa, Infosys, BHEL and DLF were supporting the market.

The CNX Midcap Index fell 25 points to 7,038 and the Nifty Junior was down 51 points at 9,703.

In the second line shares, Aptech gained 3% as Rakesh Jhunjhunwala acquired 2.2% stake in the company yesterday at Rs 70.44/share, raising stake to 34.20%.

Manappuram General Finance gained 2.5% and KPIT Cummins rallied 3%.

Future Capital gained 0.4% as CNBC-TV18 reported quoting sources that Warburg Pincus seeks majority stake in the company.

Sintex Industries tanked 4% after its net profit fell 46% YoY to Rs 91 crore for the fourth quarter of FY12.

Infrastructure stocks caught in bears' grip. IVRCL, Lanco Infra, IRB Infrastructure, GVK Power and GMR Infrastructure lost 2-3%.

Results Reaction: Lupin was down 2% while Jain Irrigation gained 2%.

Kingfisher Airlines plunged nearly 5% and United Spirits was down 1.7%.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Sensex, Nifty open 0.5% lower; SKS Microfinance up 17%

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login