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Markets manages to close marginally in the red

July 29th, 2011

The Indian stock markets that saw some heavy downfall in share prices during the week managed to close the Friday marginally in the red. In fact, they made at least two big attempts to enter and stay in the green territory but the news flows, particularly the quarterly result announcements have made them to be changing course.

Sensex closed the day at 18197.2 down by 12.32 points. Nifty ended the day at 5482 and is down by 5.75 points. Autos, Banks, FMCG and IT sectoral indices closed the day in the green while Capital Goods, Consumer Durables, Health care, Metals and Oil & Gas scripts lost today.

ICICI Bank announced good set of numbers today. The Q1 net profit jumped up 30% at Rs 1332 crores. Dena Bank Q1 PAT is reported at Rs 168 crores. Axis Bank is one of the topper in todays gainers list as the script moved up 3% in trades today.

The losers list is lead by Sesa Goa that lost 5.4% today. Jindal Steel lost 4.14%. JP Associates is down 3.88 and ONGC and Ambuja Cements are down at 2.87% and 2.78% respectively.

Maruti Suzuki (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) is witness renewed interest in recent times, particular in the last two trading sessions. The script moved up Rs. 21.45 having had moved up Rs. 30-odd yesterday. The script closed that day at Rs. 1207.90. Sharekhan has given a Buy call in the script with a target of Rs. 1300 in a week-days time. Emkay gave an accumulate call with a target of Rs. 1400. Angel Broking too gave an Accumulate call with a target of Rs. 1322. PINC has a Buy call with a target of 1594. IIFL however fears the script to touch Rs 1174.

Entry Filed under: Equity Markets, Automobile, Closing Bell