BackMarkets end flat, weighed down by HUL loss
Markets end flat, weighed down by HUL loss
PremiumMumbai: Markets ended flat and slightly below in the red after exhibiting volatility throughout the session on Tuesday. Traders ignored positive cues from Asian markets and remained choppy despite unchanged key rates in RBI’s quarterly monetary policy review.
Markets opened in green only to pare all gains soon as on selling pressure emerged in key stocks, especially among banks. Investors were also acting cautious ahead of F&O expiry for July on coming Thursday.
However, RBI is optimistic about the GDP to grow at 6% in FY10 with an upward bias. But the RBI has increased the inflation forecast to 5%. But stocks continued to fluctuate.
Among sectors, FMCG, bank, consumer durable and oil & gas stocks witnessed most of the selling while, realty, auto, metal and power segments managed some gains.
The 30-share BSE Sensex closed slightly lower by 43.10 points at 15,331.94 and the 50-share NSE Nifty ended marginally down by 8.20 points or at 4,564.10.
Among the rallying stocks in the Sensex were Tata Motors up by 10.47% to Rs414.20, Reliance Infra by 3.91% to Rs1,209.95, DLF Ltd by 3.40% to Rs426.10, Reliance Communications by 2.98% to Rs290.50, Maruti Suzuki by 2.84% to Rs1,408.80 and Tata Steel by 2.54% to Rs468.95.
Hindustan Unilever Ltd was on top of the losers list, falling by 7.28% to Rs277, ICICI Bank by 0.27% to Rs739.65, Grasim Industries by 1.77% to Rs2,837.00, State Bank of India by 1.70% to Rs1,680.50 and Infosys Technologies by 1.51% to Rs1,994.75.
Asian markets ended mostly higher with Japan’s Nikkei down 1% and Hong Kong’s Hang Seng up 2%.
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