Financial Daily from THE HINDU group of publications
Tuesday, Jan 24, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 24, 2006 |
|
|
|
|
|
|
|
Markets
-
Stock Markets Info-Tech - Stocks Columns - Sensor IT stocks suffer most Radhika Kamath
MARKETS failed to sustain last week's gains as profit taking by investors dragged them down. Unlike the rampaging bulls seen on Friday's trading, the markets remained subdued and ended in negative territory. While the Sensex lost 56.1 points to settle at 9464.9,the broader Nifty was down by 16.9 points at its close of 2884.1. On Monday, markets opened on a weak note amid widespread selling across the counters of ICICI Bank and Infosys. IT stocks were most vulnerable as most of them registered significant declines. There was across-the-board selling that pulled the indices down. In the BSE sectoral indices, IT index was the largest underperformer with a loss of 1.9 per cent. Sensex, in its intra-day trade lost over 70 points while the Nifty also witnessed sharp swings. Breadth of the market remained largely negative; 21 out of the 30 stocks constituting the Sensex declined in value. Bearish sentiment was more pronounced in the large-cap space. HDFC, Ranbaxy, Bajaj Auto, Tata Steel, Hero Honda, Grasim, Tata Power, Reliance, ACC and NTPC wilted under market sentiment among others. On a day when bears were at the centre stage, a good number of stocks in the mid-cap space managed to arrest the interest of bulls. Stock of Navbharat Ferro Alloys was up sharply by 13.4 per cent. Apollo Hospitals was another notable gainer, whose stock jumped by over 12 per cent. Kalpataru Power, Shoppers' Stop, Monnet Ispat, Taj GVK Hotels, BF Utilities, IVRCL and Dishman Pharma also netted off handsome gains among others. A few of them that succumbed to the bearish onslaught included Century Enka, Titan, EID Parry, Spicejet, Sasken, Avaya Global and Federal Bank.
More Stories on : Stock Markets | Stocks | Sensor
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|