Mumbai -- The market got a negative push in the late afternoon trades, that forced it to reverse its five day winning trend. Sharp profit booking was witnessed at higher levels pulling the Sensex below the 12000 and Nifty below 3460. Cipla, Tata Motors, Grasim, HLL and L&T were the major losers among the 30 Sensex scrips.
A sudden bout of profit booking and selling pressure in index heavy weights like Reliance Industries, HLL, ONGC, Infosys, Tata Motors and ACC dragged the major indices lower from day's high. Nonetheless, the markets stood firm for most part of the day backed by strong buying in IT stocks. A sudden selling was witnessed across the counters like Oil & Gas, Metal, Capital Good, Consumer Durable and Auto stocks.
Finally the benchmark Sensex closed at 11970, down by 101 points after touching a high of 12152.60 and a low of 11915.21. NSE Nifty lost 35 points to close at 3457.
Amid all the scramble, Satyam Computer continued trading in green territory, the scrip gained 1.6% to Rs. 837 after the company inked an recruitment accord with University of Melbourne. The scrip touched an intra-day high of Rs. 850 and a low of Rs. 824 and recorded volumes of over 35,00,000 shares on NSE.
On contray, Suzlon Energy shed 3.2% to Rs. 1173. The unit of the company has bagged an order from John Deree Wind Energy. The scrip touched an intra-day high of Rs. 1220 and a low of Rs. 1165 and recorded volumes of over 4,00,000 shares on NSE.
Metal stocks pared their gains as profit booking dragged the Metal stocks down. Hindalco lost 1% to Rs. 166, Sterlite Industries slipped 2.4% to Rs. 430, National Aluminum dropped 1% to Rs. 198 and Tisco lost 2% to Rs. 488.
Profit booking was also seen in the Banking stocks. SBI lost 1.3% to Rs. 977, HDFC Bank was down 0.8% to Rs. 875, PNB lost 4% to Rs. 479 and Bank of Baroda lost 2.1% to Rs. 262.
Selling was also seen in the FMCG stocks. Mc Dowell lost 5.5% to Rs. 660, Britannia slipped 1.5% to Rs. 1097, Dabur was down 2.8% to Rs. 135 and HLL lost 2.1% to Rs. 244.
Auto stocks also closed lower. Tata Motors lost 3.3% to Rs. 831, Maruti shed 2.7% to Rs. 916, Bajaj Auto fell 1.5% to Rs. 2750 and TVS Motors plunged 4.3% to Rs. 109.
