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  4. Nifty ends flat in choppy trade; bank shares remain subdued

Nifty ends flat in choppy trade; bank shares remain subdued

Mumbai: The benchmark CNX Nifty ended below the 5,900 mark after surrendering most of the gains on the back of profit booking in a volatile session on the National Stock Exchange (NSE) today.The 50-share index

India TV News Desk Published : Sep 24, 2013 22:18 IST, Updated : Sep 24, 2013 22:21 IST
nifty ends flat in choppy trade bank shares remain subdued
nifty ends flat in choppy trade bank shares remain subdued

Mumbai: The benchmark CNX Nifty ended below the 5,900 mark after surrendering most of the gains on the back of profit booking in a volatile session on the National Stock Exchange (NSE) today.






The 50-share index hovered between a high of 5,938.40 and a low of 5,854.55 before ending at 5,892.45, up 2.70 points, or 0.05 per cent, over the last close amid caution ahead of expiry of futures and options contracts this week.

Auto, healthcare, capital goods and enery stocks witnessed renewed buying activity.

Banking shares remained under selling pressure after RBI Governor Raghuram Rajan shocked markets by raising a key interest rate in his maiden policy review last week.

Moreover, global rating agency Moody's overnight decision to downgrade India's banking behemoth SBI also weighed on sentiment.

Technology and metal counters, too, witnessed some amount of selling.

After a sluggish start, Nifty moved into positive zone, reversing a two-day sell-off, due to buying in select frontline counters and short-covering in beaten-down stocks.


The index maintained its strong momentum and reclaimed the key 5,900 level before succumbing to profit booking.

Meanwhile, other Asian and emerging markets ended lower, mirroring a sharp fall on Wall Street overnight amid ongoing uncertainty over US monetary and fiscal policies.


Bajaj Auto, Tata Power, NTPC, L&T, Cipla, M&M, BHEL, HDFC, NMDC and Tata Motors were among the notable gainers from the index pack.

Key losers included Hindalco, BPCL, ACC, Coal India, Jindal Steel, HCL Tech, Bharti Airtel, Bank of Baroda, IDFC and DLF.

Turnover in the cash segment rose to Rs 11,148.20 crore from 10,943.22 crore yesterday.

A total of 5,385.19 lakh shares changed hands in 57,49,698 trades. The market capitalisation stood at Rs 62,86,484 crore.
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