It was a bit of a reversal intraday which brought the Nifty back down to 5,520 levels. Volumes were over Rs 1 lakh crore, but the breadth was not very special. The winning list was dominated by the ADAG group stocks which fell off quite a bit in the last half an hour of trade yesterday. For obvious reasons, they recovered this morning. L&T was strong with a good rise of 200 zone ever since it declared numbers.
The losing list, dominated by Tata Motors, has gravitated post earnings to almost 1,000 levels. Reliance was up before the AGM speech, but came off quite sharply after that and closed 1.5% lower. Bank like HDFC and Axis Bank were weak. SAIL, Hindalco and JSPL were some of the metal stocks which dragged as well.
Outside the index, SUN TV was in the spotlight after the huge fall yesterday and started the day with a 12% rally. It could not quite hold it there and finally closed the day just about 4% higher.
Spicejet closed in the green, but just a little higher. We didn
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