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D-Street takes a breather! Sensex below 38K, Nifty around 11,450; banks take a hit
Investors are booking profits in banks as well as indulging in fence-sitting ahead of State Bank of India’s results. IT and metal stocks are witnessing some strength.
Shares of Liberty Shoes rose 5 percent on Friday morning as investors cheered its financial results for the June quarter.
The stock touched an intraday high of Rs 216.65 and an intraday low of Rs 207.00.
The company’s net profit for the June quarter more than doubled to Rs.2.26 crore against Rs.1.07 crore reported for the same quarter of last year. Its net sales stood at Rs 146.34 crore against Rs 129.03 crore in the corresponding quarter of last year.
The stock has risen around 17 percent in the past one month, while in the past three days, it stood at 1 percent. At 10:22 hrs Liberty Shoes was quoting at Rs 212.05, up Rs 5.00, or 2.41 percent, on the BSE
After days of rally, the market seems to be in a breather mode on this Friday morning. The Sensex has given up 38,000-mark, while the Nifty is hovering around 11,450. Banking stocks are taking a hit on the back of some profit booking. Apart from that, auto stocks are gaining on the back of a surge in Eicher Motors. Investors bet on the stock after it declared strong Q1 results. Shares of Jet Airways has seen some recovery after a fall of 14 percent. It is now trading 6 percent lower.
The Sensex is down 84.35 points or 0.22% at 37940.02, and the Nifty down 29.90 points or 0.26% at 11440.80. About 912 shares have advanced, 1014 shares declined, and 108 shares are unchanged.
Investors are booking profits in banks as well as indulging in fence-sitting ahead of State Bank of India’s results. IT and metal stocks are witnessing some strength, while the midcap index is trading flat with a positive bias.source-www.moneycontrol.com
Shares of Jet Airways tanked 10 percent after the airline has deferred its results and its audit panel refused approval to its results.
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