E-Paper
Market ends lower on profit-taking, Nifty down by 17 pts
Despite firm global cues, profit-taking at existing higher levels pulled down the benchmark CNX Nifty by 16.70 points on the NSE on Tuesday.
Despite firm global cues, profit-taking at existing higher levels pulled down the benchmark CNX Nifty by 16.70 points on the NSE on Tuesday.
Though trading commenced on a strong foot, the recent rally has made investors and traders a bit cautious, forcing them to book some profit at higher levels, traders said.
The government's recent decision to speed up the reforms process will definitely give a positive edge in coming days, they added.
Since the Q2 earning seasons had come to an end, market is also looking for some positive cues to move ahead.
Telcom counters hit hard in today's trading on concerns over revenue earnings.
The 50-share index resumed at 4,898.90 and hovered in a range of 4,947.70 and 4,860.10 before closing at 4,881.70, a loss of 16.70 points, or 0.34 per cent, over last close.
From Nifty pack, Bharti Airtel fell by 4.60%, HeroHonda by 3.70%, RCOM 3.21%, DLF by 3.19% and ONGC by 2.84%. However, Ambuja Cement gained by 2.30%, Tata Motors by 2.22%, Sbin by 2.19%, Cipla by 2.09% and BPCL by 1.75%.
Turnover in the cash improved to Rs 19,261.68 crore from Rs 15,756.86 crore yesterday. A total of 8,814.16 lakh shares changed hands in 72,02,106 trades. The market capitalisation stood at Rs 52,60,724 crore.
