After opening on a positive note, the capital market on Tuesday slipped into the red at the fag end of the day after the Central Bureau of India filed charge-sheet against top industrialists in the coal scam.

The BSE benchmark Sensex opened higher at 20,723 points against the previous close of 20,608. It made a high of 20,759 and low of 20,447 before closing down 60 points at 20,547.

The NSE Nifty was down 24 points at 6,089.

The stock markets will remain closed on October 16 for Bakri Id.

Rakesh Goyal, Senior Vice-President, Bonanza Portfolio, said profit-booking and higher inflation numbers are among the major reasons for today’s selling pressure.

“Investors expecting that higher inflation can lead to higher rates in near term,” he said.

HDFC Bank slipped three per cent even as it posted 27 per cent increase in net profit at Rs 1,982 crore on Tuesday. This is the first time in a decade that the bank’s net profit growth has fallen below the 30 per cent mark.

Reliance Industries was down by 0.41 per cent at Rs 865.

Wockhardt hit the lower circuit limit of 5 per cent for the second day in a row. It dipped to Rs 474 as the UK drug regulator recently withdrew quality certification to the company's Chikalthana factory in Maharashtra.

Taking cues from global markets, metal stocks gained strength. BSE Metal index was up 78 points at 8,741. Among the few indices which closed in the green on the BSE were the IT, TECk and FMCG.

Tata Steel jumped three per cent to Rs 310, Hindustan Zinc moved up two per cent to Rs 133 and JSW Steel and Sesa Sterlite were up one per cent at Rs 788 and Rs 185, respectively.

(This article was published on October 15, 2013)
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