Stock Market Updates for Today (11th July '11)
Caution ahead of key earnings reports and weak global markets triggered a sell-off and pushed down stocks to a negative close on the major Indian bourses on Monday. Some profit booking after recent gains contributed to the decline as well.
After moving in a narrow range following a weak start, stocks, led by frontliners from information technology, realty, banking and metal sectors, declined sharply and eventually ended on a negative note. Power and capital goods stocks, which found some support midway through the session, failed to hold at higher levels and ended weak.
Select FMCG and consumer durables stocks edged higher. Oil, automobile and healthcare stocks mostly ended flat. Midcap and smallcap stocks drifted down after moving in a tight band for a significant length of time.
While the Sensex, which declined to 18,679.49 in late afternoon trade, ended the day with a loss of 136.65 points or 0.72% at 18,721.39, the Nifty closed at 5616.10, nearly 15 points off the day's low of 5601.70, recording a loss of 44.55 points or 0.79%.
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