Retail stocks continued to plunge on Tuesday as the Sensex dipped, losing 17 points, to close the day at 11783.
The benchmark index of the Bombay Stock Exchange, the Sensex, after rising by over 379 points in the early session of trade Tuesday morning, once again failed to retain the momentum.
The early rise was credited to RBI’s decision to allow Indian banks to lend more and inject more money into the beleaguered financial markets. The central bank, on Monday, allowed banks to reduce their cash reserve ratios by half a percentage point.
PVR was bruised badly on the BSE as it lost 5.18 per cent to end the day at Rs 130.00. Adlabs Films also went red as it shed 1.46 per cent to close at Rs 280.00.
Indiabulls Retail performed in the red too as it dipped 4.89 per cent to close at Rs 38.90.
Interestingly, when other retail stocks were busy fighting red, Shoppers Stop springed a surprised by going green to close at Rs 209.95, up 6.57 per cent. Also joining in was Trent, which went up by 0.64 per cent to close at Rs 439.80.
Koutons Retail, after touching a day’s high of Rs 669, ended up losing 3.66 per cent from its previous close, to shut at Rs 635.85. Provogue, however, managed to escape from incurring heavy losses. The stock closed at Rs 135.00, below 1.85 per cent.
While Liberty Shoes closed at Rs 52.10, Relaxo Footwears dipped Rs 1.35 (-4.03%) to close at Rs 32.15.