Key Indian market index drops on choppy trades


Mumbai : Markets in India failed to maintain the rising momentum despite opening on a firm note Monday, with the benchmark index slipping into the red at close of trade

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The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 20,918.23 points, up 0.45 percent and touched the high of 20,985.62, up 0.79 percent. On profit bookings at a higher level, it reacted and marked a low of 20,661.90 before ending with a fall of 99.40 points, down 0.48 percent at 20,728.05 points.

Jaiprakash Associates maintained the lead as turnover topper from the morning and remained so with a total volume of Rs.3.23 billion at Rs.468.60 at the end of the day.

Reliance Communications followed it with a turnover of Rs.1.97 billion, Reliance Petroleum at Rs.1.9 billion, Reliance Industries at Rs.1.77 billion, and Reliance Energy at Rs.1.65 billion. Total turnover at the BSE was to the tune of Rs.80.13 billion.

The broader 50-share S&P CNX Nifty index of the National Stock Exchange, too, mirrored similar sentiments. Nifty opened at 6,208.80 points, up 0.10 percent. It marked a high of 6,244.15 points, up 0.74 percent and a low of 6,172.00, down 0.46 percent before closing at 6,206.80 points with a gain of 6.70 points, up 0.03 percent.

At NSE, the turnover toppers were Reliance Natural Resources at Rs.12.24 billion, Reliance Industries at Rs.8.83 billion, ICICI Bank at Rs.7.32 billion, Reliance Energy at Rs.6.47 billion and Jaiprakash Associates at Rs.6.29 billion. NSE saw total turnover of Rs.189.94 billion.

The State Bank of India announced a rights issue in the ratio of 1:5 shares held at a price of Rs.1,590. Despite the good news, the counter reacted from the high of the day and settled at Rs.2,460, up 0.95 percent.

Mundra Port and Special Economic Zone reacted on the news of the Finance Ministry rejecting a clean-chit given by the attorney general to Mundra SEZ and closed down by 4.81 percent at Rs.1,033.65.