Relentless selling led to the market losing much of its gains in the later part of the trading today, though it appeared this morning to have weathered the disappointment over the decision of the government to suspend the decision on allowing FDI in retail till a consensus was built on the issue.
Though technically the 50-stock Nifty had more gainers at 28 than losers at 22, many of the gainers were just able to end up in the green.
Tech majors Wipro and Infosys made decent gains and were able to recover from the day’s lows. While Wipro closed at Rs 403, a gain of Rs 12.85, after recovering from the day’s low of Rs 388, Infosys ended at Rs 2,757.10, a gain of Rs 55.95, which was a massive recovery from the day’s low of Rs 2,684.05.
Bajaj Auto, which closed at Rs 1,726, a gain of Rs 25.70, SBI that closed at Rs 1,935 (+ Rs 23.95) and HDFC that closed at Rs 675 (+ Rs 12.80) were among the major gainers.
Maruti, which appeared to be recovering when it hit a high of Rs 1,014.90 this morning, ceded much of its gains to close at Rs 991, a loss of Rs 8.55. PNB and ICICI Bank were the bank stocks to end up in the red. While PNB lost Rs 12.50 to close at Rs 915, ICICI Bank ended at Rs 764.60, a loss of Rs 14.95. Dr. Reddy’s shed Rs 30.70 to close at Rs 1,549.