Nifty closes flat amid volatile trade; PSU oil cos slip
15 Jul 2010
The benchmark Nifty closed the session on a flat note, after trading in a narrow range of 5370-5399 for the whole day. PSU oil & gas, capital goods, telecom and realty companies' shares along with SBI, ICICI Bank, HDFC, HDFC Bank, Maruti, Hero Honda Motors, Cipla and Sterlite Industries forced equity benchmarks to close with negative bias.
On the other side, consistent buying in FMCG and technology companies' shares along with SAIL, Reliance Industries, Tata Steel, Tata Motors, Tata Power, ACC and Reliance Infrastructure capped the losses to major extent.
Overall it was another consolidation session for the markets, after previous four days rally. The 30-share BSE Sensex closed at 17,909.46, down 28.70 points and the 50-share Nifty fell 7.40 points to 5,378.75.
BF Utilities, Tata Steel, LIC Housing Finance, Dr Reddys Labs, HPCL, Axis Bank, Reliance Industries and BPCL were the most active shares on exchanges.
In the midcap space, BF Utilities rose 12.28%. S Kumars Nationwide, LIC Housing Finance (post results), Indian Metals and Dewan Housing gained 5-9%. However, Polaris Software tanked 6.83% post disappointing Q1 numbers.
Nagarjuna Construction lost 4.5%, as National Environment Appellate Authority has rejects permission to NCC power project at Sompeta, reports CNBC-TV18.
