Cairn listing to hog limelight
The bulls had a shaky start to the week with the benchmark Sensex losing over 200 points on the first day of the week. The bulls were unable to show up on the bourses as bears were in complete command. Heavy selling in the frontline stocks like Infosys, ACC, SBI, Bharti Airtel, HLL and RIL dragged the key indices to close in deep red. Finally, the BSE benchmark Sensex fell 208 points to close at 13652 after touching an intra-day high of 13855.89 and low of 13599.87. NSE Nifty was down 50 points to close at 3933.
Nagarjuna Construction slipped 1.4% to Rs225. The company secured two new orders aggregating Rs2.6bn from Maharashtra Airport Development Company Ltd and the Chief Engineer, Electricity, GESCOM, Gulbarga District of Karnataka. The scrip touched an intra-day high of Rs228 and a low of Rs223 and recorded volumes of over 7,00,000 shares on NSE.
Aurionpro Solutions gained 0.3% to Rs233 after the company announced that its Board would meet today to consider and approve merger between the Company and Aurionpro Services Pvt. Ltd., the promoter company. The scrip touched an intra-day high of Rs236 and a low of Rs225 and recorded volumes of over 7,000 shares on NSE.
Pratibha Industries was locked at 5% upper circuit at Rs229.10 after the Company secured a contract from Public Health Engineering Department, Government of Rajasthan for Rs3.3bn. The scrip touched an intra-day high of Rs229.10 and a low of Rs226 and recorded volumes of over 37,000 shares on NSE.
Banking stocks witnessed selling pressure. Heavy weights HDFC Bank was down 3% to Rs1025, SBI slipped 2.8% to Rs1209 and ICICI Bank edged lower 0.6% top Rs905. Corp Bank, Bank of Baroda and Bank of India were the major losers among the Mid-Cap stocks.
The Capital Good stocks ended lower on back of profit booking. Siemens declined 3% to Rs1086, L&T was down 0.5% to Rs1464, Punj Lloyd dropped over 2.7% to Rs999 and BHEL slipped 2% to Rs2226.
Metal stocks dipped on back of sharp fall in metal prices on LME. SAIL, Hindalco, National Aluminum and Sterlite Industries were among the major losers.
The Telecom stocks were a mixed bag. Heavy weight Bharti Airtel slipped 2.7% to Rs619 and Reliance Communication lost 2.5% to Rs435. However, MTNL spurred over 5.5% to Rs157 and VSNL was up 0.6% to Rs434.