Markets close marginally in red - March 23, 2007 - Closing Bell
The markets today did not follow the trend of the previous trading sessions and closed partially in the negative territory. The markets lost points in the early hours of trade but gained strength during noon. Last minute trades how ever made the stock indices to close marginally in the red.
The Sensex opened at 13,343.57 in the morning, touched intraday high of 13,386.95 and intraday low of 13,196.90 before finally closing at 13,285.93 loosing 22.10 points (-0.17%) in the process. NIFTY closed at 3861.05 as against its previous close of 3875.90 a 0.38% lower. NIFTY Junior however showed strength. This index closed at 6940.90 as against its previous closure of 6857.10 and gained 1.22%.
Top stocks on the BSE today include UTI Bank (6+%), Power Finance, Century Textiles, Cromton Greaves, Sterlite Industries, Kotak Mahindra Bank (all +5%), Hinduja TMT, L&T and Aurobindo Pharma (all +3%)
Toppers of NSE today are Page Industries (+20%), Jindal Photo (+15%), Lakshmi EFL (+13%), GLFL (+10%), HB Stock, OTL (both +9%), Dalmia Cement, Omax Auto, VVikashmet and Yes Bank (all +8%)
On Nifty 50, L&T (+3%), Dabur, Cipla, HCL Tech, M&M (all +2%), BHEL, HDFC, Maruti (all +1%), HLL and SAIL (both marginally in green) topped the charts. Loosers on Nifty 50 include Jet Airways (-5%), Zee Limited (-4%), VSNL, ITC (both -3%), OBC, Gujarat Ambhuja, HPCL, MTN L, Siemens (all -2%) and BPCL (-1.99%)
Banking stocks, after leading the rally yesterday lost quite a bit today. The stocks remained weak till middle of the day and gained strength post noon only to settle back in the red. Of the 12 stock Bank Nifty, only 2 managed to advance while 10 declined. Corporation Bank (+6.4%) and UTI Bank (+4.1%) stood up while Syndicate Bank (-4%), Canara Bank, OBC, Bank of Baroda (all -2%) and Bank of India (-1.5%) closed in red.
Midcap stock Kotak Mahindra Bank opened today at 443.65 on the BSE, rached a high of 467.40 and low of 437.00 during the trades before closing at 461.10 (+22.30; +5.08%)
Bank of India is another banking stock that saw good trades both in terms of gains and volumes during the week. The script on NSE opened at 175.80 in the morning, reached day high of 178.00 and day low of 171.20 to close at 173.80 (-1.53%)
Mixed bag on the technology stocks too. The 20 script CNX IT had 12 advancers pushing upwards while 8 decliners pulled it downward. HTML (+4.5%), Tata Elxi, Hexaware (both +3%), HCL Tech and HCL Insys (both +2%) are the toppers while Infosys Technologies, Patni, TCS (all -1%), Mose Baer and CMC (marginally negative) closed in the red.
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