Sensex snaps 4-day winning streak, down 121 points
30 Mar 2010
The markets were quiet in the first half of trade, but turned into the red in last couple of hours. The Nifty April future also lost its premium and ended with just 3 points premium, as per provisional data.
However, DLF, Sterlite, BHEL, Tata Motors, Cairn, ICICI Bank, SAIL, ONGC, HUL, PNB, Unitech, ACC and ABB were the only gainers.
The 30-share BSE Sensex closed at 17590.17, down 121.18 points or 0.68% and the 50-share NSE Nifty loses 0.76% or 40.40 points to settle at 5262.45. However, the broader indices outperformed the benchmark indices; the BSE Midcap Index was up 0.15% and Smallcap up 0.78%.
Today's new listing - ILandFS Transportation Networks closed at Rs 273.75, up 6.10% over its issue price of Rs 258 per share. MD of ITNL, K Ramchand said that the company has 19 road projects of which eight projects have been commissioned. ''We are confident of maintaining margins going forward.''
Technology companies' shares remained losers in trade today as well due to rupee appreciation, which will impact their profitability. The Indian rupee was trading at 45.12 per US dollar. Infosys and HCL Tech slipped 2.6-3%. TCS and Wipro declined 1.5-2%.
Telecom stocks like Bharti, Reliance Communications and Idea also tumbled; ended 0.4-1% down.
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