Sensex ends lower; banks, capital goods, realty down 1
20 July 2012
The Indian equities closed on a weak note. Banks, capital goods, power remained the major laggards on the bourses. Banking stocks tumbled further after a Reserve Bank of India committee recommended tightening regulations on loan restructuring, including setting aside higher provisions.
Refinery major Reliance closed down 0.70% at Rs 722.65 ahead of its numbers today . It is likely to post a 3% sequential rise in profits, GRMs likely to be slightly higher than USD 7 per barrel.
In today's entire trading session, the NSE Nifty struggled at around 5,200 mark and closed above that level. Stocks like ITC, Reliance, HDFC Bank, Infosys, ONGC and SBI were the negative contributors to the bourses.
The Sensex was down 120.41 points or 0.70% at 17158.44, and the Nifty was down 37.60 points or 0.72% at 5205.10.
About 1151 shares advanced, 1633 shares declined, and 651 shares remained unchanged.
Technical analyst Sudarshan Sukhani, s2analytics.com sees Nifty stuck in a narrow range and its direction being unclear. "The Nifty's drift below 5,220 was the first sign that there is weakness but not enough to justify taking short positions,"