Indian equity market extended its intraday losses for the 4th consecutive day ahead of the Reserve Bank of India's policy review meet on Tuesday. Nifty fell down by 54.55 points and ended at 5831.65 while Sensex ended at 19593.28 down by 154.91 points.
Jai Prakash Associates hits the 52 week low despite reporting over two-fold rise in standalone net profit mainly on account of exceptional gains. Net profit for the June quarter rose to Rs. 334.5 crore against Rs. 139 crore in the same period last fiscal.
UltraTech Cement, India's biggest cement producer, reported a 13.5% year-on-year fall in net profit for the quarter ended June 30, due to a slowdown in home building and infrastructure projects in India, but the share rose after company said that the outlook of Cement demand growth in the current fiscal year ending in March 2014 was likely to be about 6%, but in the long-term it was likely to be more than 8%.
Among the sectoral indices CNX FMCG declined by -2.58% followed by CNX MNC (-2.45%), CNX Realty (-2.25%) and CNX Metal (-1.80%) while CNX AUTO (0.17%) and CNX IT (0.13%) were only gainers of the day.
Out of 50 stocks of Nifty, 12 stocks ended in green while 38 stocks ended in red.
Top 5 Nifty gainers: Jindal Steel (4.76%), Tata Motors (2.09%), Ultra Cement (1.35%), Grasim (1.16%) and Asian Paints (1.03%) were among the index gainers.
Top 5 Nifty losers: IDFC (-4.79%), JP Associate (-4.44%), Hindalco (-4.24%), Ambuja Cement (-4.07%) and Sesagoa (-3.96%) were among top losers.
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