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Stocks fall ahead of F&O expiry; realty worst hit

This article was posted on May 26, 2009 and is filed under Stock News

MUMBAI: Equities faced heavy selling pressure towards the end of the session as investors took to booking profits ahead of the F&O expiry. All sectors such as realty and capital goods which were in focus in the earlier trading sessions were badly hit. On the other hand, technology stocks, which were the laggards, bucked the trend.

National Stock Exchange’s Nifty settled at provisional 4107.70, down 129.85 points or 3.06 per cent. The broader index hit an intra-day low of 4092.25 and high of 4256.05.

Bombay Stock Exchange’s Sensex ended at 13,598.79, down 314.43 points or 2.26 per cent. The 30-share index touched a high of 13991.46 and low of 13,518.79.

Secondline counters, which were the frontrunners in the recent sessions, were the worst hit. BSE Midcap Index was down 3.14 per cent and BSE Smallcap Index lost 2.8 per cent.

Among frontline stocks Reliance Communications (-9.73%), Ranbaxy Laboratories (-7.91%), Tata Motors (-6.23%), NTPC (-5.8%) and Bharti Airtel (-5.71%) took a severe beating.

Hindalco Industries (3.36%), Infosys Technologies (2%), Wipro (1.05%) and Sterlite Industries (0.17%) were the only gainers.

Market breadth turned negative with 1430 declines against 1344 advances on BSE.

(All figures are provisional)

source: Economictimes

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