Nifty below 5900; HCL Tech, Hero Moto, ICICI Bank down - Moneycontrol.com

10:47 Moneycontrol Bureau The Nifty was trading soft on the first day of the new derivatives expiry. Profit booking by the traders dragged Nifty below 5900 after the benchmark index rallied close to 350 points in the last seven trading sessions. Banks, IT and pharma stocks were major laggards today. Realty stocks were on buyer's radar today. The Sensex was down 71 points at 19335 and the Nifty was down 29 points at 5887. The breadth of the market was neutral. About 804 shares have advanced, 779 shares declined, and 2087 shares remain unchanged.  Bharti Airtel, Asian Paints, GAIL, DLF and Tata Power were top gainers in the Nifty. Jindal Steel, HCL Tech, Sun Pharma, ICICI Bank and TCS are top losers. Idea touched 52-week high after the company reported strong earnings yesterday. Revenues were up 8.6 percent at Rs 6061.4 crore while margins improved to 27.6 percent. Citi has a buy rating on the stock with a target price of Rs 133. JSPL was down 2 percent post disappointing earnings. Revenues were up just 2 percent at Rs 5583 crore while margins dipped to 27.3 percent. On April 25, ace investor Rakesh Jhunjhunwala promoted Rare Enterprises bought 50 lakh shares of Alok Industries at Rs 10.24 on the NSE. The stock was up 1 percent.   Delta Corp was down 9 percent post earnings. Net sales were down at Rs 56.1 crore compared to Rs 78 crore. The company has posted a net loss of Rs 10.4 crore. Rollover stats by Sharekhan The Nifty May month rollover stands at 66.78% verusus April month rollover at 53.26%. The market-wide rollover was 80.77 percent versus 78.26 percent in the last month. The strongest rollover was seen in the hotel, infrastructure and fertiliser stocks. IT, telecommunications and FMCG stocks witnessed poor rollover in the next series. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHSJN2LKy5EM0xWmI0pv9V1WEj1jA&url=http://www.moneycontrol.com/news/local-markets/nifty-below-5900-hcl-tech-hero-moto-icici-bank-down_859617.html

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