INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Sharda Motor Industries (down 8.42 per cent), Geojit Financial Services (down 7.61 per cent), Jet Airways (India) (down
7.23 per cent) and Orient Green Power Company (down 5.66 per cent) tanked up to 8 per cent on NSE on Friday, defying bullish market
sentiment.
Stocks such as Optiemus Infracom (down 4.98 per cent), Bhansali Engineering Polymers (down 4.76 per cent), Shakti Pumps (India)
(down 4.67 per cent), Alok Industries (down 4.55 per cent), Mcnally Bharat Engineering Company (down 4.48 per cent) and Sequent Scientific
(down 4.15 per cent) declined up to 5 per cent.
After two consecutive sessions of drubbings, bulls took charge on D-Street on Friday, owing
to strong buying in bank, financial, metal and IT stocks despite weak Asian cues.
Bank and financial counters staged an impressive comeback
from their lows after the RBI on Wednesday raised the repo rate by 25 basis points amid concerns of rising inflation.
The 30-share Sensex
zoomed 391 points, or 1.05 per cent, to finish at 37,556, while Nifty 50 closed the day at a fresh record high of 11,361, with a gain of 116
points, or 1.03 per cent.
For the week, Sensex inched up by 0.60 per cent, whereas Nifty clocked a gain of 0.73 per cent.
In the Nifty
basket of stocks, 33 stocks closed the day with gains, 16 with losses and one remained unchanged
Tech Mahindra, Tata Motors, Grasim Industries, Hero MotoCorp, IndusInd Bank, UltraTech Cement, HDFC Bank and Bharti Infratel stood as the
top losers in the Nifty index.
