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Nifty ends below 8100; Bajaj Auto up 4%, infra metals dip

Sep 04, 2014, 05.36 PM IST | Source: CNBC-TV18

As the market halted for some breathing space, experts are gung-ho on the market and feel the bull run is here to stay for some more time. Laijawala, MD & Head of Research, Deutsche Equities India says the good times have just begun.

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Nifty ends below 8100; Bajaj Auto up 4%, infra & metals dip

As the market halted for some breathing space, experts are gung-ho on the market and feel the bull run is here to stay for some more time. Laijawala, MD & Head of Research, Deutsche Equities India says the good times have just begun.

17:24

The News International Team

After a massive rally, it was a resting day for the bulls today. The market fell prey to profit booking in initial hours but rebounded in late trade. However, the Nifty could not cling on to 8100-mark at end. The 50-share index ended at 8095.95, down 18.65 points. The Sensex slipped 54.01 points at 27085.93.

As the market halted for some breathing space, experts are gung-ho on the market and feel the bull run is here to stay for some more time. Laijawala, MD & Head of Research, Deutsche Equities India says the good times have just begun. “This is going to be a 4-5 year bull market,” says Laijawala. He is one of early bulls to set a big bang year-end Sensex target of 28,000 after BJP’s election win, expects the index to hit that mark well before December.

Meanwhile, infra, metals and realty stocks suffered major losses today. Both BHEL and Hindalco lost 4 percent on the BSE.

BHEL reacted to a CLSA report which indicated concerns about the company’s financial performance. The brokerage has added BHEL to its conviction sell list as annual report suggested FY14 was one of the worst year on financial metrics.

Another stock which fell on its chin was JP Associates (down 20 percent intraday) as concerns grew with the promoters selling stake. Jaypee Infra Ventures sold almost 3.3 crore shares or 1.45 percent equity shares via the open market in the last three days. However, the company clarified that the promoters sold only 1.45 percent for social cause.

DLF also lost around 9 percent after the Haryana government cancelled the 350-acre land allotment made to the company in 2010.

However, amidst the volatility and profit booking, autos and select midcaps were on buyers’ radar. Bajaj Auto and Hero Moto gained 2-4 percent. NTPC, HDFC and Axis Bank were other gainers in the Sensex.

Oil slipped to around USD 102 a barrel, partially reversing a sharp rise the previous day, with more volatility expected as traders await the European Central Bank meeting and developments on Ukraine.

Meanwhile, India is on high alert after an Al-Qaeda video announced launch of its terror wing in the country. The home ministry has send investigative teams to sensitive areas.

14:00

Sensex, Nifty end slightly lower; BHEL falls 4%, autos zoom

BHEL lost 5 percent. Hindalco, Tata Steel, Tata Motors and GAIL are top losers in the Sensex. Among the gainers were auto stocks like Bajaj Auto and Hero Moto. NTPC, HDFC and Bharti Airtel were other gainers in the Sensex.

Read More »

13:00

Sensex, Nifty continue to slide; JP Associates tanks 13%Read More »

HDFC, NTPC, Coal India, Hero MotoCorp and ITC are top gainers in the Sensex. Among the losers are BHEL, Hindalco, Tata Motors, Tata Steel and ICICI Bank.

Read More »

12:00

Sensex breaks 27000; Hindalco down 4%; HDFC, ITC shineRead More »

State-run power equipment maker BHEL and aluminium major Hindalco Industries topped the selling list in the Sensex, falling more than 4 percent. Among the Nifty 50 stocks, DLF crashed over 8 percent after Punjab and Haryana HC canceled allotment of 350 acre land to company by Haryana government while JSPL lost 4 percent.

Read More »

10:58

Sensex, Nifty pause after record high; realty hit mostRead More »

Realty stocks are hit the most, followed by infra and metals. Hindalco, BHEL, Tata Power, Tata Steel and Tata Motors are major laggards in the Sensex. Among the top gainers are Cipla, HUL, Sun Pharma, HDFC and ITC.

Read More »

10:00

Nifty struggles at 8100; BHEL falls 3%, Sun Pharma gainsRead More »

BHEL topped the selling list in the Sensex down over 3 percent followed by Hindalco Industries, Tata Motors, Tata Steel and Tata Power with 1-2 percent. Shares of Infosys, L&T, Bharti Airtel, Axis Bank and Sesa Sterlite lost over 0.5 percent.

Read More »

09:27

Sensex, Nifty fall on profit booking; USL up, DLF tanksRead More »

United Spirits gained a percent despite posting huge loss of Rs 4,489 crore in the year ended March 2014 on consolidated basis, increased by 44.4 times compared to a loss of Rs 101.2 crore in previous year, dented by exceptional loss of Rs 3,236 crore related to provision.

Read More »

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