Nifty hovers around 5250: RIL, SBI, L&T, Tata Motors up
DATE: 04/09/2012
The 50-share NSE Nifty continued to hover around 5250 level amid low volumes. The weakness was seen in technology, private banks and power stocks. However, the buying in Reliance Industries, L&T, SBI and Tata Motors has limited the downside.
The BSE Sensex declined 47 points to 17,337.42 and the NSE Nifty fell 12 points to 5,241.55 while the broader markets were trading marginally higher due to positive market breadth.
Country's largest software services exporters Tata Consultancy Services, Infosys and Wipro moved down 0.8-1%.
Housing finance company HDFC lost 1%. Private sector lenders ICICI Bank and HDFC Bank fell 0.3-0.65% while their rival State Bank of India was up 0.5%.
Telecom operator Bharti Airtel dropped 1.5%; the Department of Telecommunications will hold 2G auction pre-bid meet on September 6.
Power producers NTPC and Tata Power were down 1-1.7%. Among auto stocks, Bajaj Auto, M&M and Maruti went down 0.8% each whereas commercial vehicle major Tata Motors rose 0.7%.
Index heavyweight Reliance Industries was quite supportive with gains of more than 1%. Engineering conglomerate Larsen & Toubro gained 0.65%.
Advancers outnumbered decliners by 654 to 563 on the National Stock Exchange.
+POWERED BY: MONEYCONTROL NEWS
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