Bearish Sentiment Prevails, Top Scrips Decline

The National Stock Exchange witnessed a bearish sentiment as prices of major pivotals registered a significant decline yesterday. The NSE-50 Index opened at 958.79, touched a high of 958.83 before reaching a low of 942.05 and closed at 947.23, losing 12.08 points over the previous close of 959.31.

The net traded value of 4.79 crore shares traded was Rs 936.66 crore, out of which the SBI stock saw trading in 159.87 lakh shares worth Rs 408.84 crore and Reliance in 92.17 lakh shares worth Rs 174.68 crore, ITC in 41.58 lakh shares worth Rs 123.62 and Tisco in 44.12 lakh shares worth Rs 74.56 crore.

 

The SBI stock opened at Rs 259.60, dipped to an intra-day low of Rs 252.75 and closed at Rs 253.80, a net loss of Rs 6.20 over the previous close of Rs 260. The Reliance stock opened at Rs 193.95, touched an intra-day low of Rs 187.15 and closed at Rs 188.15, a loss of Rs 5.80 over the previous close.

Other stocks which lost ground included Arvind Mills, IPCL Tata Tea, Boehringer Mann, Burroughs Wellcome. The Arvind Mills stock opened at Rs 121.50, dipped to an intra-day low of Rs 114 and finished the day at Rs 117.55, which is a loss of Rs 3.95. The IPCL stock lost Rs 4.65 when it finished the day at Rs 111.40.

The Tata Tea counter also witnessed hectic selling it opened on the NSE at Rs 256 and closed at Rs 247.85, which is a net loss of Rs 10.75.

Pivotals like Bombay Dyeing, Indo Gulf Fertilisers and Apollo Tyres touched their respective 52-week lows of Rs 138.50, Rs 34.80 and Rs 114.75. The top five gainers were Somkan Marine Foods (11.11 per cent), AR Enterprises (10.14 per cent ), Spartek Ceramics (9.97 per cent), Cubex Tubings (9.09 per cent) and Indo Biotech Foods (9.09 per cent).

The top five losers were Growmore Solvent (10 per cent ), Standard Industries (10 per cent), Goldcrest Finance (9.90), TMT India ( 9.88 per cent ) and Ganesh Housing (9.84 per cent).