The Indian stock market ended notably lower on Thursday as investors chose to book profits, despite some upbeat results, particularly from a few top notch banks. Global cues too were not any negative, but the market was in selling more for most part of the session.
The BSE benchmark Sensex, which tumbled to 19,865.72 after moving above the 20,000 mark in early trades, ended the day with a loss of 110.02 points or 0.55% at 19,894.98. The Nifty index of the National Stock Exchange closed at 6034.75, recording a loss of 21 points or 0.35%. It touched a high of 6058.05 and a low of 6025.15 during the day.
Realty stocks were in demand once again. PSU, consumer durables, FMCG and power stocks too found good support. Select pharmaceuticals and metal stocks moved higher.
Automobile, capital goods and information technology stocks were mostly subdued. Oil and bank stocks found some support, but only a select few managed to hold gains.
Tata Power, HDFC Bank and Bharti Airtel lost over 2%. Despite a 30% rise in net profit, ICICI Bank ended lower by nearly 2%. Hindustan Unilever, Jindal Steel & Power, Reliance Industries, Larsen & Toubro, HDFC, Grasim Industries, Power Grid Corporation and Ranbaxy Laboratories also ended notably lower.
Punjab National Bank shot up by over 10% on upbeat results. Bank of Baroda notched up a gain of over 4%. BHEL ended 3.2% up and DLF gained 2.6%.
GAIL India, Siemens, Ambuja Cements, Lupin, ITC, Sun Pharmaceutical Industries, Ultratech Cement and IDFC also closed with strong gains.
The market breadth was slightly positive. Out of 2950 stocks traded on BSE, 1066 stocks declined. 1093 stocks moved up and 791 stocks ended flat.