Nifty closes below 5250; RIL, TCS, ITC, Infy dip
31 Mar 2010
The benchmark Nifty closed last session of the fiscal year 2009-2010 with modest losses on the back of stock specific selling. It slipped below the 5250 level and continued profit booking for the second consecutive day. However, the benchmark indices showed outstanding performance in FY10, rallied over 70%.
In today's trade, heavyweights dragged the index into negative terrain. Reliance Industries, TCS, Infosys, ITC, BHEL, ICICI Bank and HUL were the losers while NTPC, SAIL, HDFC, HDFC Bank, Bharti, Wipro and Reliance Communications were gainers in trade.
The 30-share BSE Sensex shed 62.40 points to close at 17,527.77 and the 50-share NSE Nifty fell 13.35 points to settle at 5,249.10. However, the benchmark indices outperformed the benchmark indices today as well; the BSE Midcap index was up 0.25% and Smallcap up 0.5%.
Weak Asian cues also weighed on the markets. Straits Times lost 1.6%. Shanghai, Hang Seng, Jakarta, Kospi and Taiwan were down 0.4-0.75%. Nikkei was flat. European markets were flat in trade, at the time of closing of Indian equities.
Reliance Industries from the oil & gas space declined 1.3% and BPCL was down 0.78% while GAIL and Cairn India went up 2-2.55%. ONGC was flat.
TCS from the technology segment slipped 2.4% and Infosys lost 1%. HCL Tech was down 0.25% while Wipro rose 0.76%.