Market ends with marginal gains
The market slipped into the red by mid-afternoon as index heavyweights Reliance Industries, Infosys Technologies and ICICI Bank pared gains. Selling was, however, conspicuous in cement shares.Cement shares flopped for the second day in a row.The sensex ended 17 points up at 12903,while Nifty ended 16 points up at 3735.
Gujarat Ambuja Cements dropped 5% to Rs 104.35, ACC lost 4% to Rs 747 and Grasim shed 2.6% to Rs 2015.Cigarette major ITC dropped nearly 4% to Rs 148.50.Reliance Industries ended flat at Rs 1318. The stock came off the session’s high of Rs 1334.50. As per reports, the company had made two more gas discoveries off the country's east coast. The discoveries were made in gas-rich KG DG block in the Krishna-Godavari basin, and in NEC 25 block of the Mahanadi basin.
Software bellwether Infosys shed 0.4% to Rs 2114, whereas IT major TCS rose 2.3% to Rs 1240. Wipro had gained 1.8% to Rs 575.ICICI Bank was up 2% to Rs 877. ICICI Bank has no plans for a stock-split, Chief Executive Officer KV Kamath said on Monday responding to market speculation.
Mutual funds are sitting on cash, thanks to collections from some of the recent new fund offers, and may step up purchases at declines. However, the latest data shows that mutual funds are in selling mode. They were net sellers to the tune of Rs 40 crore on Thursday (8 March 2007), the day when the Sensex had surged 470 points. They had pressed sales worth a net Rs 379.56 crore on Wednesday (7 March 2007), the day when the Sensex had lost 177 points in volatile trade.
Gujarat Ambuja Cements dropped 5% to Rs 104.35, ACC lost 4% to Rs 747 and Grasim shed 2.6% to Rs 2015.Cigarette major ITC dropped nearly 4% to Rs 148.50.Reliance Industries ended flat at Rs 1318. The stock came off the session’s high of Rs 1334.50. As per reports, the company had made two more gas discoveries off the country's east coast. The discoveries were made in gas-rich KG DG block in the Krishna-Godavari basin, and in NEC 25 block of the Mahanadi basin.
Software bellwether Infosys shed 0.4% to Rs 2114, whereas IT major TCS rose 2.3% to Rs 1240. Wipro had gained 1.8% to Rs 575.ICICI Bank was up 2% to Rs 877. ICICI Bank has no plans for a stock-split, Chief Executive Officer KV Kamath said on Monday responding to market speculation.
Mutual funds are sitting on cash, thanks to collections from some of the recent new fund offers, and may step up purchases at declines. However, the latest data shows that mutual funds are in selling mode. They were net sellers to the tune of Rs 40 crore on Thursday (8 March 2007), the day when the Sensex had surged 470 points. They had pressed sales worth a net Rs 379.56 crore on Wednesday (7 March 2007), the day when the Sensex had lost 177 points in volatile trade.
posted by SY at 5:31 PM
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