Apr 27, 2012, 02.15 PM | Source: Moneycontrol.com
The BSE Sensex and NSE Nifty retained downtrend, even after the European markets recouped early trade losses.
Back home, the BSE benchmark fell 45.41 points or 0.27% to 17,085.26 and the NSE benchmark declined 14.20 points or 0.27% to 5,174.80. The broader indices were down 0.5%.
Private sector lender HDFC Bank (which gained 1% in morning trade) erased all gains, losing 0.3%. Top lender State Bank of India dropped further, falling over 2% while ICICI Bank shot up over 3% after its net profit jumped a whopping 31% year-on-year to Rs 1,902 crore and net interest income increased 23.7% to Rs 3,104 crore in the quarter ended March 31, 2012.
Index heavyweights Reliance Industries, Larsen & Toubro, ITC and Bharti Airtel lost nearly 1%. Coal India, largest coal mining company gained over 2%.
However, buying interest in technology stocks was supporting the market quite nicely. Top software services exporters TCS, Infosys and Wipro moved up 0.5-1%.
About two shares declined for every share rising on the National Stock Exchange.