Home / Market Beat / Nifty closes in red. Telecom stocks drag. Airlines fly high.

Nifty closes in red. Telecom stocks drag. Airlines fly high.

Markets closed in the red finally, after witnessing a tight trading session from the morning. Telecom, metal and real estate stocks had seen major cuts dragging the indices lower. Midcap stocks were also hit.

The Nifty closed at 5333, down by 28 pts or -0.52%.

All the telecom majors closed in red. Bharti was down by 2.4%, while RCOM closed with 3.3% cuts. Idea cellular closed with cuts nearing 4%.

Tata steel, from the metal bunch, closed 3.8% lower. Sterlite also dipped 3%. SAIL and Hindalco also closed 1% lower.

Coal India (COALINDIA) closed 1% lower from yesterday’s close.

Auto Major M&M was down by 3.2%.
L&T was down by 2%.

Reliance Capital was down by 3.2% and closed at 374. IT major Infy closed 1% lower.

Some of the Midcap stocks lost heavily.

Jubilant Foodworks closed 6% down. Crompton Greaves was down by 3%. Aban Offshore closed down by 4.5%.
JP Associates also closed with 4% cuts.

Airline stocks were on the high, after the Govt. announced relief by allowing direct import of the ATF by the airline companies. Jet Airways ( JETAIRWAYS ) was up by nearly 14% during the close. Kingfisher Airlines (KFA) was up by 13%. Stocks of Spice Jet (MODILUFT) were up by 11% at the end of the trading session.


 

 

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