Profit booking dragged auto, Tech and Banking stocks
Mumbai -- After registering the negative note in the opening and then trading with smart gains, finally, the markets closed lower with benchmark Sensex losing 9 points to close at 11904 and NSE Nifty lost 3 points to close at 3473. Auto, Technology and Banking stocks slipped on account of profit booking.
Metal stocks shine brightly in a dull market with Tata Steel leading from the front, the scrip added 1.5% to Rs. 513, Hindalco surged 2.8% to Rs. 179, National Aluminum edged higher by 0.8% to Rs. 206 and Sterlite Industries surged 4.4% to Rs. 452.
Buying was seen in mid cap Banks. Canara Bank spurred 5.9% to Rs. 249, Bank of India rallied 3% to Rs. 142 and Union Bank advanced 0.8% to Rs. 117.
Oil PSU stocks were in action today after the supervisory staff of oil PSUs deferred a planned indefinite stir over pay hikes. IOC gained 0.5% to Rs. 512 and ONGC advanced 1.4% to Rs. 1229.
Auto stocks were bounced back as profit booking dragged them. Tata Motors tumbled 1.2% to Rs. 886, Maruti was down 1% to Rs. 894, M&M plunged 0.6% to Rs. 655 and Bajaj Auto lost 0.4% to Rs. 2820.
