Indian markets lose a bit after selling pressure crops in
July 27th, 2011
After having witnessed heavy selling after the news of RBI rate hike is out, the markets continued to look downward soon after few minutes of opening today. The Nifty opened at 5579.05 soon began to lose stream and continued the day in the red. The index closed the day down by 28.5 points.
Must of the selling pressure today is witnessed in capital goods lead by BHEL, JP Associate, Hindalco and Siemens, banking lead by PNB and the heavy weight Reliance Industries.
On the other side, Maruti had a surprising positive up move. The script that appeared range bound for the past few sessions had seen some buying interest and topped closed the day at Rs. 1216 up 3.32%. Other gainers of the day include Sesa Goa, DLF, RCOM and Bharti Airtel.
L&T Finance Holdings IPO
L&T Finance Holdings IPO is out today. The company is attempting to raise Rs. 1092 crore out of the total size of Rs. 1245 crores. The earlier pre-IPO placement was very successful. Experts are giving a subscribe call to the IPO considering the PBV of its peers. The price band is between Rs. 51 – 59.
Entry Filed under: Equity Markets, Banks & NBFC, Closing Bell
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