NSE Nifty drops 35 points on tail-end selling

Fi

Selling in select stocks during the last half-an-hour of trading led the benchmark S&P CNX Nifty to shed over 35 points and close below the 5,900 mark at the National Stock Exchange (NSE) today.

The selling was seen mainly in media, IT, FMCG and energy stocks on the last day of derivatives contract as the market snapped a two-session of rising trend.

After resuming up, the market largely moved in a narrow range. However, profit-booking towards the end on the concluding day of December contract weighed on the market and it ended in the red.

The 50-issue S&P CNX Nifty touched a high of 5,930.80 but fell back to settle at 5,870.10, displaying a fall of 35.50 points, or 0.60 per cent.

Global stocks were mixed with upward bias amid concerns about US fiscal cliff. Barring China, other Asian markets closed with small gains, while in Europe, the CAC and FTSE were trading better and the DAX was quoting weak in afternoon deals.

Meanwhile, Foreign Institutional Investors (FIIs) pumped in USD 162.16 million in the market yesterday, taking the total to over USD 4.43 billion in the current month so far, according to Sebi data.

Top five losers from Nifty were GAIL India (1.95 pct), Jindal Steel (1.86 pct), BHEL (1.65 pct), Power Grid (1.43 pct) and JP Associate (1.43 pct). Key gainers were Bank of Baroda (1.20 pct), Tata Motors (1.05 pct), SBI (0.81 pct), ONGC (0.74 pct) and Dr Reddy's Lab (0.71 pct).

The turnover in cash segment shot up to Rs 13,809.02 crore from Rs 9,030.03 crore yesterday. Overall, 9,176.28 lakh shares changed hands in 50,09,171 trades. Total market capitalisation stood at Rs 66,61,003 crore.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus