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Sensex closes 120 points down; banks, realty stocks take a breather


Updated: April 26, 2013, 10:03 AM IST
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Sensex closes 120 points down; banks, realty stocks take a breather
The NSE 50-share Nifty also dropped by 35.30 points, or 0.60 per cent, to 5,881.00 at 10.30 am.

Mumbai: Key equity benchmarks closed in red on the first day of the new derivatives expiry.Indices have gained over 6 per cent in the last fortnight and seems like traders have lightened their positions in the realty and banking stocks ahead of the monetary policy review on May 3. IT stocks were biggest laggards this week.

The Sensex closed at 19286.72 down 120 points and the Nifty ended at 5871.45 down 45 points. About 951 shares advanced, 1393 shares declined, and 1326 shares remain unchanged. Maruti Suzuki was the top gainer on the Nifty followed by Bharti Airtel, Bajaj Auto, GAIL and Larsen. HCL Tech, Jindal Steel, Reliance Industries, Jaiprakash Associates and HUL were top losers.

In the broader market, stocks like Welspun Corp, Sobha Developer, United Phosphorous, Blue Dart, TTK Prestige ended with snart gains. Delta Corp, Unitech, HDIL, Persistent and Punj Lloyd were top losers in the BSE Midcap index.

The earnings season continue to surprise the streets with some brilliant out performances from the auto stocks. Maruti Suzuki's fourth quarter standalone net profit rose significantly by 80 per cent year-on-year to Rs 1,148 crore, sending its stock surging to a new 52-week high of Rs 1,693 on NSE. Revenue was up 14 per cent to Rs 13,304 crore in this quarter. The stock closed up 5 per cent at Rs 1673.

Hero MotoCorp's fourth quarter sales were in line with the estimates. Net profit came in ahead of the estimates at Rs 574.3 crore. Operating profit margins also improved to 13.8 per cent.

First Published: April 26, 2013, 10:03 AM IST
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