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Indian shares trade volatile; financial services stocks lead losses

Indian shares trade volatile; financial services stocks lead losses
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First Published: Fri, Apr 29 2011. 11 27 AM IST
Updated: Fri, Apr 29 2011. 11 27 AM IST
Mumbai: After opening with gains, Indian stock markets soon turned volatile as profit booking in financial services stocks weighed on the benchmark indices.
Sensex: 19,220 –0.37%
Nifty: 5,767 –0.31%
Reliance Capital lost as much as 2% after reports suggested that Mukesh Ambani-led Reliance group might buy a stake in Bharti Axa Life Insurance. Reliance Capital runs both life and non-life insurance businesses. Investors are paring their holdings in banking stocks ahead of the RBI monetary policy review meeting next week.
Hero Honda: Rs 1,659 –2.15%
Reliance Capital: Rs 562 –1.81%
HDFC Bank: Rs 2,300 –1.59%
HDFC: Rs 706 –1.51%
Axis Bank: Rs 1,315 –1.35%
Punjab National Bank: Rs 1,186 –1.30%
On the sectoral level, capital goods stocks are leading the losses on the BSE. Shares of Crompton Greaves fell by more than 10% after the company reported weak March quarter earnings. While banking and automobile indices are also trading lower, healthcare index rebounded on buying in key stocks.
BSE Capital Goods: 13,217 –1.38%
BSE Bankex: 13,230 –0.60%
BSE Auto: 9,607 –0.26%
BSE Healthcare: 6,258 +1.03%
Buying in Opto Circuits, Sun Pharma, Piramal Healthcare and Ranbaxy Laboratories helped the BSE Healthcare index register gains.
Opto Circuits: Rs 300 +2.79%
Sun Pharma: Rs 460 +2.47%
Piramal Healthcare: Rs 458 +2.13%
Lupin: Rs 443 +2.08%
Ranbaxy Laboratories: Rs 461 +1.79%
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First Published: Fri, Apr 29 2011. 11 27 AM IST
More Topics: Markets | Stock | Sensex | BSE | NSE |