Latest News
-
Rs 55/Share Dividend Announced: Multibagger Refineries PSU Declares 72% Jump In Q4 Profit -
PayU Gets RBI's In-principle Nod To Operate As Payment Aggregator -
Rekha Jhunjhunwala Portfolio Stock Jubilant Ingrevia Hits Record High; More Upside Ahead? -
Gold Prices: 10 Grams Of 22-24 Carats Rise By Rs 9,500 To Rs 10,600 From 2024 Lows; Strategy For Buying -
JNK India IPO: Retail Investors Lead With Subscriptions On Day 2; GMP Hints Premium Listing; Check Status -
Rs 60 Dividend: Multibagger Small Cap Power Stock To Consider Dividend Again On May 2 -
40000% Returns In 10 Years: This Microcap Dividend Paying Multibagger Stock Acquires Square Port Shipyard -
Gold Prices India: 10 Grams Of 22K Yellow Metal Jumps After Falling By Rs 2000 -
New Safety Check System for Cooking Gas Connections Rolled Out Amidst Delivery Boy Grievances; Reports -
Okay Play India Posts 12.79% Revenue Growth In Q4 After 1:10 Stock Split Approval
Nifty ends lower; loses 400 points in 8 straight days of decline
The Nifty ended the day lower by 50 points, while the Sensex closed lower by 153 points. Almost all of the Nifty stocks declined, except the resilient technology stocks, pharma stocks and Reliance Industries.
The maximum price damage was in the metal and power sector with Jindal Steel dropping 8% and Power Grid falling 11 per cent. Other metal and power stocks that collapsed were Tata Power, Sterlite Industries, Tata Power and Tata Steel.
Banking stocks which have been hammered out of shape, following the RBI's recent moves to suck liquidity crumbled in trade. ICICI Bank, Kotak Mahindra and Yes Bank were the stocks that lost ground from the private sector banking space. The worst hit were the PSU Banking stocks with Syndicate Bank closing almost 9% lower, while Bank of Baroda, Bank of India and Canara Bank lost 5% each.
Among the stocks that gained ground in trade were the technology and pharma stocks. Tata Consultancy Services, Infosys, Ranbaxy Labs and Cairn India were among few of the gainers in trade.
FMCG stocks that were supporting the market also gave up gains with Hindustan Unilever losing as much as 4% in trade. ITC added to the otherwise bearish sentiments in the markets.
HCC rallied 20% and was locked at the upper end of the circuit filter after the company turned profitable for the quarter once again.
In Asia most of the markets closed higher, while most of Europe was trading with gains.
GoodReturns.in
