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Market Commentary
Indian Markets close marginally lower
Posted On : 2006-02-02 11:20:35( TIMEZONE : IST )
The Indian Stock markets closed marginally lower after opening firmly in the morning. S&P CNX NIFTY opened the day at 2972.2 and hit an intraday high of 2997.25 before profit booking pushed the index down. NIFTY hit a intraday low of 2957.55 before recovering to close at 2967.45, down by 4.1 points.
Out of 50 stocks in NIFTY 27 stocks were losers and 23 stocks closed higher. ONGC was the major loser with the stock closing down by 3.24% at Rs.1184.45. The stock hit an intraday high of Rs.1240 and low of Rs.1180. L&T was the other major loser with the stock closing down by 2.31% at Rs.2230.65. Tata Tea and HDFC also closed lower by 2.25% and 2.1% respectively.
Maruti, TCS, ICICI Bank, IPCL, Zee Tele, Infosys Technologies, HCL Technologies, VSNL, Reliance Energy and Jet Airways lost more than 1% during the day´s trading.
CIPLA was the major gainer in NIFTY with the stock closing up by 10.76% at Rs.490.05. The stock hit a high of Rs.496.9 and a low of Rs.465.1. NALCO was the other major gainer in NIFTY with the stock closing at Rs.304.2, up by 7.17%.
BPCL gained 4.59% to close at Rs.433 after being subdued for the past few days due to bad Q3 results. Bharti Tele was up by 3.54% at Rs.363.65.
ACC, Hindalco, Ranbaxy Laboratories, BHEL and Sun Pharma closed higher by more than 2% during the day. Tata Power, SAIL, Tata Steel, HPCL, Grasim, Glaxo, WIPRO and Hindustan Lever closed the day with gains of more than 1%.
BSE Sensex opened the day at 9890.9, hit an intraday high of 9956.1 and low of 9816.01 before closing at 9843.87. The Sensex closed at 9843.87, down by 15.39 points. Out of 30 stocks in Sensex, 13 closed higher and 17 closed down.
CIPLA was the major gainer in Sensex with the stock closing up by 10.97% at Rs.490.3. Bharti Tele was the second major gainer with the stock closing at Rs.363.95.
ACC, Hindalco, BHEL, Ranbaxy Laboratories closed higher by more than 2%. Tata Power, Hindustan Lever and WIPRO closed higher by 1% during the day´s trading.