Home Retail Sensex goes green but Retail stocks crumble

    Sensex goes green but Retail stocks crumble

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    It was the start of the week and markets once again continued to be choppy. Positive cues from global markets coupled with RBI’s announcement to cut repo rates by 100 bps to 8 per cent with immediate effect, provided a real boost to the market.

    Opened higher on Monday with Bombay Stock Exchage sensitive index, , at 10,190, up 214 points from the previous close and Nifty at 3129, up 54 points. However, higher levels only attracted profit booking. Meanwhile, the closing was decent and the ended the day at 10,223, up 247 points from the previous close. Nifty shut shop at 3122, up 48 points. But it wasn’t that great a day for the midcaps and smallcaps – BSE Midcap index closed 1.1 per cent lower and BSE Smallcap index, down 1.3 per cent.

    While BSE IT index gained 8.1 per cent, realty and power stocks witnessed some selling pressure. Top gainers on Sensex included the four IT heavyweights, along with HDFC Bank, , Bharti Airtel and ITC. Sensex losers were BHEL, Grasim and DLF, among others.

    Reatail Stocks at Sensex

    It was once again a sad day for retail stocks on Dalal Street. While most of the retail stocks continued to shed, there were a set of stocks that brought cheers to investors. Pantaloon Retail was the hero of the day after it ended the day at Rs 220.05, up Rs 17.60 or 8.69 per cent. Next to follow were Trent at Rs 404.00, up Rs 44.25 or 12.30 per cent, and Koutons Retail at Rs 661, up Rs 1.85 or 0.28 per cent. Among those traded in the red today were: at Rs 121.50, down Rs 7.50 or 5.81 per cent, Retail at Rs 26.45, below Rs 0.95 or 3.47 per cent and at Rs 180.00, down 10.00 or 5.26 per cent.

    However, Nuvo and managed to go green. While the former closed today at Rs 658.35, up Rs 23.90 or 3.77 per cent, the latter shut shop at Rs 95.85, up Rs 0.85 or 0.89 per cent. Meanwhile, Provogue was not among the fortunates today. It lost 1.51 per cent to close the day at Rs 65.15. too was down 4.02 per cent to close at Rs 202.90. also lost 9.48 per cent to close at Rs 109.85.

    In the entertainment sector, Adlabs Films dipped 1.29 per cent to close at Rs 198.35. PVR too was down Rs 1.25 at 102.75. Cinemax India at Rs 49.45 and at Rs 38.50 lost 10.88 and 8.33 per cent, respectively.

    In the footwear segment, while Liberty Shoes ended at Rs 42, down 4.55 per cent, traded red at Rs 102.85, below 1.53 per cent. Relaxo Footwears also tasted defeat as the share lost 5.92 per cent to close at Rs 31.80.