This article was first published 21 years ago

Sensex down 17 points at close

Last updated on: July 20, 2004 16:18 IST

After a flat opening, the index slumped to an early low of 4,937 following weakness in old and new economy stocks. While the markets moved in a range-bound mode between 4,640 and 4,960 levels till late morning trades, the index bounced back into the green in early noon deals on selective buying to touch an intra-day high of 4,982.

The Sensex, however, soon drifted back into the red and languished in negative territory thereafter, before weak trends in tech, auto, select heavyweight and PSUs saw it snap the three day winning streak with a loss of 17 points at 4,958.

The Nifty, which touched an intra-day high of 1,581, ended six points lower at 1,566.

While 11 Sensex stocks advanced, 19 declined today. Advancing shares registered a volume of 77 lakh for Rs 267.11 crore, and declining shares accounted for a volume of 1.40 crore amounting to Rs 596.10 crore.

Tech and auto pivotals came under sharp correction after recent gains.

Infosys slumped 2.12% (Rs 31) to Rs 1,448. While Wipro plunged 1.71% (Rs 9) to Rs 520, Satyam tumbled 1.41% (Rs 5) to Rs 326.

Bajaj dropped 2.52% (Rs 22) to Rs 832. While Hero Honda lost 3.49% (Rs 16) to Rs 436, Maruti ended 1.29% lower (Rs 5) at Rs 420. Tata Motors shed 1.51% (Rs 6) to Rs 401.

Heavyweight

and PSU frontliners largely finished with gains.

ITC descended 2% (Rs 20) to Rs 995. While HLL was down a rupee at Rs 122, Reliance, however, logged 1.15% gains (Rs 5) to Rs 428.

ONGC was down a per cent (Rs 5) at Rs 693. While SBI slipped 1.42% (Rs 6) to Rs 433, MTNL ended marginally lower at Rs 130. BHEL and HPCL, however, were up a per cent each at Rs 542 (up Rs 3) and Rs 291 (up Rs 3), respectively.

Cement and other select old economy counters, too, were largely weak today.

Gujarat Ambuja shed 2.32% (Rs 6) to Rs 274. While ACC ended with marginal losses, Grasim, however, moved up a per cent (Rs 5) to Rs 972.

Hindalco declined 1.85% (Rs 20) to Rs 1,059. While Tata Power dipped 1.48% (Rs 4) to Rs 254, Tisco was down a rupee at Rs 344.

Pharma and select old economy stocks, however, finished in the limelight owing to smart buying support.

Dr. Reddy's (up Rs 3 to Rs 767) and Cipla (up Rs 2 to Rs 241) finished with modest gains. Ranbaxy closed up a rupee at Rs 974.

ICICI Bank shot up 3.44% (Rs 9) to Rs 262. While Bharti advanced 2.58% (Rs 4) to Rs 155, HDFC Bank added 1.23% (Rs 4) to Rs 370. Zee ended with a rupee gain at Rs 133.

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