Indian shares end in red as investors cautious

By IANS

Mumbai : Amid wild fluctuations, Indian equities ended in the red Monday, as investors exercised caution despite showing strong interest ahead of the mega share sale offer by leading private lender ICICI Bank Ltd.


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After choppy trade, the 30-share Sensitive Index (Sensex) of the Bombay Stock Exchange (BSE) fell 82.57 points, or 0.58 percent, to close at 14,080.14 points. Only seven of the Sensex shares managed to end higher.

The 50-issue Nifty of National Stock Exchange (NSE) started on a strong note but ended lower by 24.53 points, or 0.58 percent, at 4,147.10 points

The biggest losers on the BSE included Ranbaxy Laboratories, Hero Honda Motors, Tata Steel, HDFC Bank, Bajaj Auto, HDFC, Wipro, Tata Consultancy Services, Larsen and Toubro and Satyam Computer.

Drug major Ranbaxy was down 3.89 percent at Rs. 359.25, top two-wheeler maker Hero Honda was down 3.87 percent at Rs.653.70 and steel major Tata Steel was down 1.86 percent at Rs.588.95.

India's second-largest private bank HDFC Bank, last traded at Rs.1,087.90, down 1.84 percent losing Rs.20.35 on its last traded share.

On the other hand, ICICI Bank led the major index gainers after it announced the country's largest-ever sale of shares in India and the US. Its scrip rose 1.08 percent to Rs.917.85.

Following next were Oil and Natural Gas Corp., up 0.73 percent at Rs.889.50, and aluminium producer Hindalco Industries, up 0.50 percent at Rs.162.10.

Top cement producer ACC, hospitality and tobacco major ITC, automobile major Maruti Udyog, and consumer goods company Hindustan Lever were the others that ended higher.

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