Sensex ends below 26,000 pts; HUL rallies post results

Commentary

oi-Sunil

By Sunil Fernandes

Updated: Monday, July 28, 2014, 15:33 [IST]

Benchmark indices dropped in trade with the Sensex and the Nifty retreating for a second day in a row following profit booking at higher levels. The Sensex ended the day lower by 135 points at 25,991 points, while the Nifty dropped 42 points in trade.

Shares in FMCG major, Hindustan Unilever surged in trade following a better than expected results. Other Nifty stocks that gained in trade were Dr Reddy's, HCL Tech, Sun Pharma and Cairn India.

Nifty stocks that saw some selling pressure in trade were DLF, which lost more than 4 per cent, while other notable losers were Coal India, Hindalco, Tata Motors, Reliance and Power Grid Corporation.

Shares in Bank of Baroda ended the day little changed after the company's results met expectations. However, shares in Central Bank jumped almost 8 per cent, after the company's reported a sharp improvement in financial performance for Q1 2014.

Mid cap stocks also ended the day lower with stocks like Sun TV Networks, Jubinat Foodworks, CESC and Aurobindo pharma ending the day lower.

The realty index saw a sharp drop of almost 3 per cent in trade with stocks like Indiabullds, DB Realty and Sobha Developers falling in trade.

Meanwhile, markets in Europe were trading marginally higher wit the German DAX, French CAC and the UK's FTSE all trading with gains.

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