Mumbai -- After registering the strong opening in the morning trade session the market slipped into the red territory on account of profit booking and volatility. Auto, Metal and PSU stocks are the major losers and are responsible for dragging the market back.
Hefty profit booking dragged the auto stocks down. Tata Motors has tumbled by 1.7% to Rs. 839, M&M has slipped by 1.2% to Rs. 649, Maruti has plunged by 1% to Rs. 854 and TVS Motors has lost by 1.7% to Rs. 93.
Metal stocks have continued their down fall. SAIL has dipped by 2.7% to Rs. 72. Tata Steel is down by 0.7% to Rs. 503, National Aluminum has plunged by 2.3% to Rs. 199 and Sterlite Industries has lost by 1.75 to Rs. 412.
Pharma stocks also contributed in baouncing the market back.
The manufacturer and tradeer of pharmaceutical products, Wockhardt has plunged by 0.5% to Rs. 363. However, the company won an approval from US FDA to retail Cefotaxime Injection. The scrip has touched an intra-day high of Rs. 369 and a low of Rs. 361 and has recorded volumes of over 54 thousand shares on NSE.
Similarly, Sun Pharmaceutical Industries Ltd. has slipped by 0.7% to Rs. 900. The company however got USFDA approval to sell Gapapentin, in the USA. The scrip has touched an intra-day high of Rs. 915 and a low of Rs. 895 and has recorded volumes of over 1 lakh shares on NSE.
