By Aditya Raghunath
Hindalco Industries Ltd. (NS: HALC ) lost 3.72% today, followed by IndusInd Bank Ltd. (NS: INBK ) which lost 3.19%. Tata Steel Ltd (NS: TISC ) and NTPC Ltd (NS: NTPC ) both lost over 2.5% each. Nifty Bank continued to see selling pressure and closed down 1.89%.
Asian Paints Ltd. (NS: ASPN ) led the bourses today, closing up 5.47% after it reported strong numbers for the first quarter of FY22. UltraTech Cement Ltd (NS: ULTC ) gained 1.77% while Hindustan Unilever Ltd. (NS: HLL ), Maruti Suzuki India Ltd. (NS: MRTI ) and Grasim Industries Ltd (NS: GRAS ) all gained over 0.7% each.
Big Bull Rakesh Jhunjhunwala has reduced his stake in Tata Motors Ltd (NS: TAMO ) from 1.29% to 1.14% in the June quarter.
Market experts have said that as long as Nifty holds the 15,600 level, there is a chance for a reversal and the index can hit 16,000 - 16,100 levels.
Asian market ended lower with Nikkei 225 down 0.96% and KOSPI 50 down 0.35%. Europe has opened on a positive note with FTSE 100 up 0.24% and DAX up 0.23%. Crude oil continues to remain under pressure and is still trading at below $67 a barrel.
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