Profit-booking drags Nifty to 3-week low, Sun Pharma shares shine

Feb 05 2013, 22:00 IST
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National Stock Exchange National Stock Exchange
SummaryFinancial markets across Asia fell on the back of overnight sharp slide in the US and European bourses.

Fresh bouts of global concerns over eurozone and sell-off in heavyweights led the benchmark CNX- Nifty to further drop by 30 points and end at a fresh three- week low at the National Stock Exchange (NSE) today.

Barring healthcare, all major sectoral indices witnessed intense selling pressure as investors preferred to book profits on re-emergence of eurozone fears which once again dented overall confidence.

Financial markets across Asia fell on the back of overnight sharp slide in the US and European bourses, which dropped from multi-year peaks spooked by fears over the euro- zone debt crisis and political uncertainty in Spain and Italy.

Extending its losses for the fourth straight trading day, the NSE got off to a sluggish start in the backdrop of weak global sentiment and selling in frontline counters. The key index remained under pressure throughout the session and concluded with considerable losses.

The 50-share Nifty fluctuated between a high of 5,970.35 and a low of 5,946.90 before concluding at 5,956.90, a fall of 30.35 points, or 0.51 per cent, over the last close.

JP Associates, BHEL, Bank of Baroda, Tata Power, BPCL, Bharti Airtel, HCL Tech, Tata Motors, Sesa Goa and Jindal Steel were the top losers from the Nifty pack.

The biggest gainer in today's trading was Sun Pharma, which rallied by over 4 per cent following excellent December quarter numbers from its subsidiary Taro Pharma. The other gainers included Ambuja Cement, ACC, Ultracemco, Gail, Cipla, Ranbaxy, Bajaj Auto, Grasim and SBIN.

Turnover in cash segment declined to Rs 10,903.83 crore from Rs 11,399.13 crore yesterday. A total of 6,571.57 lakh shares changed hands in 59,42,327 trades. The market capitalisation stood at Rs 67,62,606 crore.

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