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Markets open lower; software stocks lose ground again

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 Markets open lower; software stocks lose ground again
The Sensex opened the day lower after rallying over 1000 points in the last few trading session on profit booking in frontline stocks.
 

The Sensex was trading lower by 64 points, while the Nifty lost 27 points in trade today. Among the top losers from the index stocks were HeroMotor Corp, Indus Ind Bank, State Bank of India, Jindal Steel, Jaiprakash Associates and Sun Pharma.

The technology pack was trading weak in early trade with prominent losers from the space being HCL Tech and Tata Consultancy Services.

ICICI Bank was trading lower ahead of its results, while other banking stocks that lost ground in trade were HDFC Bank.

PSU bank also saw some profit booking with Canara Bank, Allahabad Bank, Andhra Bank, IDBI Bank and Dena Bank drifting lower.

Top gainers in trade today were Bharti Airtel, Asian Paints, Hindalco and DLF. Idea Cellular was trading 8 per cent higher after the company reported a good set of numbers. Biocon shares dropped despite an increase in net profits as there was a component of other income.

Real estate stocks took a breather in trade today after the sharp rise in the last few days. Jet Airways which had rallied in Thursday, following the announcement of a stake by Etihad, dropped in trade today after porfit booking at higher levels.

Meanwhile, markets in Asia were trading higher, following better then expected corporate earnings.

GoodReturns.in

Read more about: sensex nifty
Story first published: Friday, April 26, 2013, 9:59 [IST]
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