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Market Commentary
Profit Booking pulls NIFTY down, closes at 3050.05
Posted On : 2006-02-26 22:39:13( TIMEZONE : IST )
NSE S&P CNX NIFTY closed lower at 3050.05, down by 12.05 points. NIFTY hit an intraday high of 3072 and low of 3041.6. Out of 50 stocks in NIFTY, 25 closed lower and 25 closed higher.
Banks were buzzing in the markets with PUnjab National Bank, top gainer on NIFTY. PNB closed higher by 3.85% at Rs.442.8. Other major banks that closed higher were Oriental Bank of Commerce (Rs.239.7, up by 3.54%), SBI (Rs.875.95, up by 2.81%), ICICI Bank (Rs.593.8, up by 0.92%).
MTNL was the second major gainer in NIFTY with the stock closing at Rs.147.05, up by 3.78%. Other major gainers include, ABB (Rs.2461.55, up by 2.55%), IPCL (Rs.238.3, up by 2.34%), Gujarat Ambuja cement (Rs.86.55, up by 2.3%), L&T (Rs.2343.95, up by 2.02%).
Tata Power, SCI, VSNL, Tata Tea, Tata Steel, Grasim closed higher by more than 1%.
Dr Reddys Laboratories was the major loser in NIFTY with the stock closing down by 4.28% at Rs.1308.55. SAIL closed at Rs.62.7, down by 2.79% and Hero Honda closed lower by 2.66% at Rs.889.45.
Other major losers in NIFTY include Hindustan Lever (Rs.242.2, down by 1.96%), Zee Tele (Rs.169.55, down by 1.88%), Ranbaxy Laboratories (Rs.443.25, down by 1.85%), M&M (Rs.578.8, down by 1.69%), ITC (Rs.163.5, down by 1.51%), Bajaj Auto (Rs.2583.65, down by 1.47%), HDFC Bank (Rs.711.45, down by 1.45%), cIPLA (Rs.551.4, down by 1.43%), NALCO (Rs.286.45, down by 1.39%), ONGC (Rs.1179.75, down by 1.34%), Satyam Computer (Rs.769.75, down by 1.33%), Infosys Technologies (Rs.2757.55, down by 1.32%), WIPRO (Rs.516.5, down by 1.13%), Bharti Tele (Rs.364.05, down by 1.01%).
Reliance Energy ventures closed at Rs.43.75, up by 337.5%. The stock opened at Rs.48.9 and hit an intraday low of Rs.42.85. Exide Industries Ltd closed higher by 11.2% at Rs.254.75. Other major gainers include, Kernex Microsystems (Rs.273.85, up by 19.17%), IFCI (Rs.12.15, up by 10.96%), GTC Industries (Rs.170.55, up by 9.44%), Dewan Housing (Rs.72.6, up by 8.93%), Gujarat NRE Coke (Rs.93.6, up by 8.52%).