S&P CNX Nifty extends losses for third session in row

Feb 04 2013, 20:36 IST
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S&P CNX Nifty S&P CNX Nifty
SummaryNifty closed 12 points down at 5,987.25 on late selling triggered by weak European cues.

Relinquishing early gains, the S&P CNX Nifty of the National Stock Exchange today extended losses for the third session in a row and closed 12 points down at 5,987.25 on late selling triggered by weak European cues and disappointing Q3 results by couple of banks.

The 50-scrip Nifty commenced trading on a firm note and touched an intra-day high of 6,038.50 but could not maintain the tempo and fell back as European shares were trading lower and fall in third quarter profit of Bank of Baroda (BoB) as also rise in non-performing assets of some state-run banks.

The index closed at 5,987.25, down 11.65 points or 0.19 per cent.

BoB reported a 21.5 per cent fall in net profit in the third quarter while its NPAs rose to 1.12 per cent from 0.51 per cent which weighed on the market sentiment, a broker said.

However, some of the private sector banks attracted good buying support. Foreign Institutional Investors invested Rs 2,565.20 crore last Friday, as per Sebi data.

Barring, Hong Kong and South Korea which closed in the red, other Asian markets ended firm today as US jobs and manufacturing data boosted optimism in the world's biggest economy and which influenced trading sentiment in Indian market. European stocks, however, were trading slightly lower.

Among the major losers were BoB (7.36 per cent), IDFC (5.42 per cent), Jaipra Asso (4.56 per cent), Ranbaxy (3.44 per cent) and BHEL (2.64 per cent) while top five gainers were Tata Motors (3.67 per cent), Ultra Cement (3.24 per cent), HDFC (2.61 per cent), Asian Paint (2.21 per cent) and DLF (1.14 per cent).

Turnover in the cash segment declined further to Rs 11,399.13 crore from Rs 12,015 33 crore last Friday. A total of 6,561.77 lakh shares changed hands in 56,61,240 trades. The total market capitalisation stood at Rs 67,97,134 crore.

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