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Gloomy industrial data knocks down bourses, Nifty sheds 37 pts

Press Trust of India  |  Mumbai 

Already grappling with the global economic uneasiness alongwith sliding rupee valuation amid absence of fund inflows, the investors sentiment got routed by the surprise fall in industrial production numbers.

Earlier, market resumed on a bearish note on the backdrop of weak global peer on sustained selling in rate-sensitive counters like banking, auto, metal and tech counters amid cautiousness ahead of the IIP data later today.

The dismal IIP data further accelerated the slide taking the key-index to day's low point. However, it made remarkable pull-back attempt in afternoon on value buying amid somewhat positive European opening before succumbing to profit-taking.

Fmcg, technology, pharma, oil&gas, capital goods, infra and metal stocks suffered heavy losses. While, auto counter attracted good buying interest.

The 50-share index oscillated between a high of 4,976.25 and a low of 4,906.15 before closing at 4,928.90, a loss of 36.80 points, or 0.74 per cent, over its last close.

Tata Power, Grasim, Sun Pharma, Ranbaxy, Hindalco, ACC, Cipla, Coal India, and Ambuja Cement were the top percent-wise losers from the Nifty bunch.

However, JP Associates, Bajaj Auto, Tata Motors, SesaGoa, IDFC, Axis Bank, Bank of Baroda, DLF, SBIN and Sterlite Industries finished with gains.

Turnover in cash segment declined to Rs 9,264.29 crore from Rs 9,693.13 crore yesterday. In all, 6,251.33 lakh shares changed hands in 54,27,732 trades. Market capitalisation stood at Rs 57,11,518 crore.


First Published: Fri, May 11 2012. 19:25 IST