Nifty leaders & laggards: Ranbaxy, Unitech, PNB

The broad-based, NSE Nifty lost further on Thursday by 1.68% at 4,505.50, led by realty and banking stocks.

Ranbaxy Laboratories, the nation`s biggest pharmaceutical company, dropped 6.78% to close at Rs 557 after investors perceived that recent gains were excessive.

Reliance Infrastructure slipped 5.65% to close at Rs 1,013.35.

Banking and realty stocks fell on concern the demand will slowdown due to higher inflation which will force the central bank to further tighten monetary policy. Unitech and Punjab National Bank led the fall in realty and banking shares.

Unitech, the leading construction company, slipped 6.39%, to settle at Rs 189.20.

Cairn India, one of the major private oil and gas explorers, climbed 3.13% to close Rs 284.15, helped by higher oil prices on Wednesday, June 18.

Hero Honda, India`s biggest two-wheeler maker, gained 1% to end at Rs 797.10.

Mahindra & Mahindra, leading utility vehicles manufacturer, gained 1.75% to end at Rs 580.