Macro economic concerns and negative global cues weighed on investor minds as the benchmark S&P CNX Nifty lost 18.70 points at the National Stock Exchange (NSE) here on Friday. The 50-share index oscillated between a high of 5,631.70 and a low of 5,562.75 before closing at 5,581.10,a loss of 18.70 points,or 0.33 per cent,over its last close. Trading commenced on a positive note,aided by TCS earnings and select buying in heavy weights,though cues from global market were not supportive. The benchmark index traded in a narrow range before it reversed tread as volatility crept into the market and cautious traders opted to book profits at higher levels. Heavy selling was witnessed in FMCG,banking,oil & gas and pharma counters. IT behemoth TCS' better-than-expected earnings from first quarter of FY12 generated some positive buying in tech counters along with select financial and auto scrips,providing cushion to a falling market. "The key concern for investors is rising inflation and the RBI's approach to control it. "Since result season is going on,trading is likely to be rangebound," traders said. Tata Motors,RPower,Sesa Goa,GAIL,ONGC,Kotak Bank,HDFC,Cipla,Reliance Infra and Sterlite Industries were the top losers from the Nifty bunch. However,TCS,HCL,PowerGrid,M&M,BPCL,Wipro,HDFC Bank,IDFC,Maruti and Reliance Industries registered gains. Turnover in cash segment dropped to Rs 8,815.95 crore from Rs 11,735.25 crore yesterday. A total of 4,720.01 lakh shares changed hands in 48,10,149 trades. The market capitalisation stood at Rs 65,89,214 crore.
