NSE Nifty snaps 2-day winning spree, loses 36 points on selling

Feb 14 2013, 21:54 IST
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Fall in inflation failed to cheer markets as the benchmark CNX Nifty snapped a two-day winning spree and dropped 36 points to end below 5,900 mark on the National Stock Exchange today due to selling in refinery, auto, realty and banking shares on lower European advices. Fall in inflation failed to cheer markets as the benchmark CNX Nifty snapped a two-day winning spree and dropped 36 points to end below 5,900 mark on the National Stock Exchange today due to selling in refinery, auto, realty and banking shares on lower European advices.
SummaryFall in inflation failed to cheer markets as the benchmark CNX Nifty snapped a two-day winning spree and dropped 36 points to end below 5,900 mark on the National Stock Exchange today due to selling in refinery, auto, realty and banking shares on lower European advices.

Fall in inflation failed to cheer markets as the benchmark CNX Nifty snapped a two-day winning spree and dropped 36 points to end below 5,900 mark on the National Stock Exchange today due to selling in refinery, auto, realty and banking shares on lower European advices.

State Bank of India shares lost nearly 1.80 per cent after a lower-than-expected increase in net profit and higher NPA levels for the third quarter ended December 31.

The market discounted the January WPI inflation, which slipped to a three-year low of 6.62 per cent as against 7.18 per cent in December.

The 50-share Nifty moved in a range of 5,940.20 and 5,884.55 before concluding at 5,896.95, down 36 points, or 0.61 per cent, from the previous close.

Asian stocks ended higher as investors awaited the G20 meeting of finance and central bank officials over the weekend for clues to their views about global growth and role currencies play in economies of individual member countries.

European stock markets were trading lower after data showed France's economy shrank more than expected in the final quarter of last year.

Top five losers from the Nifty pack where Siemens, which fell 4.70 pct, Bharti Airtel 4.37 pct, Power Grid 3.82 pct, BPCL 3.51 pct and Wipro, which dropped 3.33 pct. Key gainers were Gail, which rose 2.01 pct, HUL 1.93 pct, HDFC Bank 1.60 pct, Tata Steel 1.30 pct and Asian Paints, which 1.23 pct.

Turnover in the cash segment improved to Rs 12,747.17 crore from Rs 11,054.47 crore yesterday. A total of 8,046.49 lakh shares changed hands in 63,89,532 trades. The total market capitalisation stood at Rs 66,17,455 crore.

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