Realty major Unitech has sold almost 10 acres of land in Bangalore and Mysore for about Rs. 100-130 crore as part of its strategy to repay debt.
Anil Manghnani, director of Modern Shares & Stock Brokers, describes today’s weakness as some cooling off after the 5-day rally. However, he says that profit-taking would be shallow as the underlying momentum remains strong.
Markets extend losses: Sensex down 152 points at21,781. Nifty falls 40 points to 6,497. The BSE metal index is down nearly 3 per cent on fall in global iron ore prices. Tata Steel is down 4.8 per cent, Hindalco falls 4 per cent while Sesa Sterlite declines 2.8 per cent.
Markets at day’s low on profit-taking: Sensex down 122 points at 21,812. Nifty off 29 points at 6,507. At its day’s low, the Nifty fell to 6499.
Traders say that market is seeing a profit-taking after a 5-day rally but the selling pressure has not been huge so far.
Markets remain lower on profit-taking: Sensex down 103 points at 21,831, Nifty off 25 points at 6,512.30.
February trade data: Trade gap at $8.13 billion vs $14.12 billion a year earlier; exports at $25.69 billion, down 3.7% YoY; imports at $33.82 billion, down 17.1 per cent YoY .