Logo

Logo

Nifty pauses for breath at 2-month highs: Axis Bank plunges 5.5%

Stocks snapped a two-day advance on Friday as traders were hesitant to extend long positions ahead of the weekend and…

Nifty pauses for breath at 2-month highs: Axis Bank plunges 5.5%

(Getty Images)

Stocks snapped a two-day advance on Friday as traders were hesitant to extend long positions ahead of the weekend and investors reworked the math on valuation in a market consolidating near 2-month highs.

Here are the major events of the trading day so far:

* The Nifty slipped 28 points to 8,408 points on the National Stock Exchange. The Sensex lost 96 points to trade at 27,215 points on the Bombay Stock Exchange. Both indices are trading near their November 10 highs as muted expectations from third quarter earnings announced so far were mostly exceeded.

Advertisement

* Axis Bank, Tata Motors, ICICI, Power Grid and Bharti Infratel lost 1.3-5.5% and were among 34 shares that fell on the Nifty.

* Idea Cellular, Bharti Airtel, Yes Bank, Grasim and UltraTech Cement rose 1.4-2.3 per cent and were among 16 stocks that advanced on the Nifty.

* Axis Bank was the top traded stock by value, plunging 5.5% after it announced a dismal set of numbers. Yes Bank, GAIL and Motherson Sumi were also on the list of most active by value.

* Suzlon, GMR Infra, Federal Bank and Idea Cellular were on the list of most actively traded shares

* Wider markets were under pressure with broader indices dropping 0.1-.0.3 per cent in thin trade.

* The entire sectoral space was in the red, save for the FMCG index that rose 0.4 per cent. Losses were the highest on the four banking benchmarks.

* The bears gained initiative on the last trading day of the week with 877 stocks falling compared to 649 that rose in the wider market.

Advertisement