Nifty takes a breather; banks, capital goods, realty surge

12:11

Moneycontrol Bureau 12:26pm Infotech Ent up 5% post Softential acquisition

Euphoric investors are buying shares of Infotech Enterprise , taking it up 5 percent intraday on Monday. Its wholly owned subsidiary, Infotech Enterprises America has signed a definitive agreement to acquire Softential. Read more

12:23pm S&P BSE-500 Stocks at 52-week high: Shares of Adani Enterprises, Adani Ports, Bata India, Cenrtury Textiles, Crompton Greaves, HDFC Bank, Larsen, MRF and Siemens have recorded fresh 52-week high in trade today.

12:13pm Reality check: Bank Nifty has rallied close to 16 percent in last one month on the back of short covering and hopes of credit growth picking up post elections. However, VR Iyer, Bank of India's CMD said the improvement in infrastructure sector can be seen only after the general elections.

She stated that the near-term outlook on asset quality is not very bright and margins are expected to remain under pressure. "The micro, small and medium enterprises (MSMEs) sector may come under stress if growth does not improve," she said. Read full interview

12:11pm Indian market took a breather after a stupendous rally last week that took benchmark index Nifty to surpass 6500 mark for the first time. The Nifty retreated today from its all-time high of 6548 on profit booking in pharma and IT stocks. Shares of banks and capital goods are leading the way for last four trading sessions.

The Sensex was down 9 points or 0.04 percent at 21910, and the Nifty was down 2 points or 0.03 percent at 6524.60. About 1202 shares advanced, 1167 shares declined, and 154 shares were unchanged.

Top gainers in the Nifty were IndusInd Bank (Rs 461.70, up 3.96 percent), IDFC (Rs 109.05, up 3.76 percent), Jaiprakash Associates (Rs 49.50, up 3.34 percent), SBI (Rs 1,701.60, up 3.15 percent) and BHEL (Rs 190.10, up 2.84 percent).

Tata Motors (Rs 396.20, down 3.15 percent), HCL Tech (Rs 1,445.65, down 2.84 percent), Ranbaxy Labs (Rs 360.80, down 2.58 percent), TCS (Rs 2,172.85, down 2.5 percent) and Hindalco (Rs 122.00, down 2.05 percent) were top losers.

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