Mid cap stocks see profit booking as fatigue sets in ahead of election results

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Mid cap stocks see profit booking as fatigue sets in ahead of election results
IFCI: Quotes, News
BSE 22.85BSE Quote0.15 (0.66%)
NSE 22.90NSE Quote0.2 (0.87%)
IRB Infrastructure Developers: Quotes, News
BSE 206.55BSE Quote6.5 (3.15%)
NSE 206.45NSE Quote6.95 (3.37%)
Mid cap stocks which rallied substantially in trade in the last few weeks saw bouts of profit booking as investors turned cautious ahead of election results.

Some of these stocks had run up sharply found were few buyers at higher levels. Stocks that saw profit booking were high beta names like IFCI, NCC, IRB Infra, Adani Enterprises, IGL, India Cements, Jain Irrigation and Adani Power.

PSU banking stocks which were also in the limelight saw some profit booking with the likes of Bank of India and Bank of Baroda declining.

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Read more about: ifci, irb, adani
Story first published: Thursday, May 15, 2014, 10:18 [IST]
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