Reliance Ind & Auto stocks spurred, Metal & Sugar Dips

Mumbai -- The markets see irregular movement today after being placed on the high in last few trading sessions. The markets registered positive opening continuing it with winning streak. However, the run almost ended with Sensex managing to scrape through by adding 29 points to close at 11477 and NSE Nifty lost 2 points to close at 3354.

Reliance Industries perked up the negative trend and leaped higher amid wavering market, the markets cooled off in the afternoon trades after staging a marginal recovery. The markets took a breather today after surging smartly in six consecutive trading session.

The Industry gained by 1.8% to Rs. 1066 on account of huge volumes. The scrip recorded volumes of over 53 lakh shares on NSE and held the market from a major dip.

Other Index heavyweights like SBI, Bajaj Auto, Hindalco, Hero Honda, Tisco and ONGC lost ground on account of profit booking. Metal stocks also cooled off.

FMCG stocks posted sharp profts. HLL gained 1.9% to Rs. 235, Dabur surged by 1.5% to Rs. 141, ITC was up by 0.5% to Rs. 181 and Nirma added 0.2% to Rs. 377.

Auto stocks jumped higher as crude oil prices cooled down from their highs. US light crude for September delivery retreated $1.16 to settle at $71.89 a barrel on the New York Mercantile Exchange after the release of the weekly oil inventories report. Tata Motors surged by 2.9% to Rs. 839, M&M gained by 1.7% to Rs. 644 and Maruti spurred higher by 0.3% to Rs. 818.

On contrary, Metal stocks were beaten up badly as profit booking dragged the Metal stocks down. Tata Steel plunged by 2.7% to Rs. 518, National Aluminum slided by 1% to Rs. 200, Hindalco dipped by 2.5% to Rs. 164 and SAIL tumbled by 2.2% to Rs. 76.

Fall in international sugar prices, pushed back the Sugar stocks. Sakhti Sugar fell down by 4.8% to Rs. 140, Dhampur Sugar plunged by 3.5% to Rs. 107 and Bajaj Hindustan was tumbled by 2.9% to Rs. 336.

After being in the limelight in last few trading sessions, profit booking was also witnessed in Oil and Gas stocks. IOC plunged by 1.5% to Rs. 448, HPCL was slipped by 2% to Rs. 254 and BPCL closed flat at Rs. 347.