Nifty ends almost flat; Arvind Kejriwal spoils market mood

Press Trust of India Posted online: Tuesday, Feb 11, 2014 at 0000 hrs
Mumbai : Stock-specific action on auto, IT and banking counters led the benchmark index Nifty to post marginal gains on the National Stock Exchange (NSE) today.

The market saw lacklustre trade though sentiments were supported by encouraging export data for January released today and also strong quarterly earnings from auto major Tata Motors.

However, the momentum was disrupted when news came in that Delhi Chief Minister Arvind Kejriwal has sought filing of an FIR against Petroleum Minister M Veerappa Moily, former Minister Murli Deora and RIL chief Mukesh Ambani over the natural gas price hike.

Profit booking in energy, FMCG and pharma counters capped the gains. Tata Motors rallied by 2.87 per cent, HCL Tech 4.02 per cent and Idea surged 2.61 per cent on value buying. RIL, however, fell 2.03 per cent.

Meanwhile, foreign institutional investors sold shares worth a net Rs 455.18 crore yesterday, as per provisional figures by the stock exchanges.

The Nifty traded between a high of 6,081.85 and a low of 6,053.25 before settling at 6,062.70, up 9.25 points, or 0.15 per cent, from its previous close.

Major gainers were Ranbaxy, Tata Steel, BPCL, JP Associate, HDFC, ONGC, ICICI Bank and Sesa Sterlite. Main losers included NTPC, PNB, Hindalco, HeroMoto, Power Grid, UltraTech, Lupin, Ambuja Cement and DLF.

Turnover in the cash segment gained to Rs 9,524.20 crore from Rs 8,916.28 crore yesterday. A total of 4,737.60 lakh shares changed hands in 46,97,216 trades, while the market capitalisation stood at Rs 65,88,129 crore.