Stock Market Updates for Today (5th July '11)
Stocks opened on a negative note on weak global cues and remained that way right till the end of the session on Tuesday as investors chose to book profits after recent strong gains. There were a few mild rallies from lower levels, but the market never really looked good enough to rebound into positive territory, as investors chose to exit at higher levels, perhaps waiting for more clear signals for buying to emerge.
With the reporting season about to start in a few days time and doubts about the effectiveness of the austerity measures for Greece still looming large, stocks found the going quite tough today. Automobile stocks started off on a high note and held firm almost right till the end. Select information technology and bank stocks found good support in late afternoon trades.
Oil, realty, FMCG, power and capital goods stocks drifted lower on profit taking. Metal, healthcare and consumer durables stocks ended on a mixed note. Midcap and smallcap stocks were mostly subdued.
The Sensex, which opened at 18,837.88 - it remained its best for the session - and eased to around 18,694, settled at 18,744.56 with a loss of 69.92 points or 0.37%. The Nifty closed at 5632.10, around 20 points off the day's low, recording a loss of 18.40 points or 0.33%.
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