Nifty struggles to hold 5300; oil & gas, tech, ADAG tumble
Published on Mon, Jun 20, 2011 at 13:19 | Source : Moneycontrol.com
Updated at Mon, Jun 20, 2011 at 14:12
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Stocks like Reliance, Infosys, ICICI Bank, ITC, L&T and ONGC were major laggards to the bourses.
On the Global front, Asian and European markets too were weak, which was also another reason that affecting our markets.
At 13.17 hrs IST, the Sensex was down 262.13 points or 1.47% at 17608.40, and the Nifty was down 73.85 points or 1.38% at 5292.55.
About 540 shares have advanced, 2155 shares declined, and 956 shares are unchanged.
Top losers on the Sensex were Reliance Comm at Rs 88.60 down 6.83%, Reliance Infra at Rs 546.10 down 5.93%, Cipla at Rs 316.50 down 3.61%, ONGC at Rs 258.05 down 2.66% and Jaiprakash Asso at Rs 79.45 down 2.58%.
Out of BSE Sensex 30, only Bharti Airtel and Hero Honda were trading positive.
Most active shares on NSE were GTL, Reliance, Infosys, Titan Industries, SBI.
Refinery major HPCL was trading at Rs 374.05 down 2.22% from its previous close of Rs 382.55.
Panicky investors chose to dump GTL group shares on the back of three-pronged reasons: company's higher debt, scrapping of fund raising plan and the Mauritius government's tax treaty plan with India. At 1:39 hours, shares of GTL and GTL Infra plummented 58% and 36% respectively to Rs 143 and Rs 18.90 respectively.
ADAG stocks slide as there will be no ADAG company in Sensex from August 8, reports CNBC-TV18. Sun Pharmaceutical Industries and Coal India will replace Reliance Communications and Reliance Infrastructure in the Sensex from August 8, 2011.
Jun 20 2011, 11:55
- in Business
Jun 20 2011, 11:55
- in MARKET OUTLOOK
Jun 20 2011, 12:50 | Source: CNBC-TV18
Jun 20 2011, 10:20 | Source: CNBC-TV18