Low trading bounced the market back
Mumbai -- Market again twisted into negativity, led by selling in the Banking and FMCG stocks.
Profit booking dragged the Index heavy weights like Bajaj Auto, HLL, SBI, ONGC, ACC and M&M back. In the afternoon tradings, the BSE 30-share Sensex has plunged by 34 point at 11467 and the NSE 50-share Nifty is down by 10 points at 3354. HDFC, Cipla, PNB, M&M, HDFC Bank and ITC are the major losers among the 50-scrips of Nifty.
However, the market got a little boost when Suzlon Energy came up with gains by 1.6% to Rs. 1215, on back of a 21MW turbine order. The scrip has touched an intra-day high of Rs. 1267 and a low of Rs. 1185 and has recorded volumes of over 3 lakh shares on NSE.
On the other hand, profit booking dragged the FMCG stocks back. Tata Tea has tumbled by 1% to Rs. 838, Marico is dipped by 1.2% to Rs. 500, ITC is slipped by 0.6% to Rs. 180 and HLL is down by 0.3% to Rs. 232.
Likewise, KLG Systel Ltd. has dipped by 3% to Rs. 171. However, the company has won an order worth Rs. 600mn. The scrip has touched an intra-day high of Rs. 179 and a low of Rs. 170 and has recorded volumes of over 23 thousand shares on BSE.
Sun TV has plunged by 1% to Rs. 1263. The company’s full year profit is at Rs. 1.3bn VS Rs. 767.6mn and full year revenue at Rs. 3.39bn (up 12.6%). The scrip has touched an intra-day high of Rs. 1294and a low of Rs. 1252 and has recorded volumes of over 33 thousand shares on NSE.
Auto stocks bounced back on account of rising crude Oil prices. Crude oil for October delivery gained 18 cents to settle at $72.63 a barrel on the New York Mercantile Exchange.
Bajaj Auto has lost by 1.9% to Rs. 2707, M&M has lost by 2.5% to Rs. 643, Maruti is down by 1.2% to Rs. 826 and TVS Motors has tumbled by 0.8% to Rs. 95.
