Market end marginally in green
The markets ended marginally in green amid a rangebound session. Sensex ended flat but Nifty closed with modest gains eyeing the 4,300 mark. In terms of cues, Asia ended mixed with a negative bias and even Europe opened weak.
Sensex was up 13.36 points or 0.09% at 14501.08, and the Nifty up 26.30 points or 0.62% at 4285.7.
State run oil exploration major Oil & Natural Gas Corporation (ONGC) gained 2.45% to Rs 939.10, on 2.96 lakh shares. It was the top gainer from the Sensex pack. It posted 13% fall in net profit to Rs 2681.64 crore in Q4 March 2007 compared to a net profit of 3085.89 crore in Q4 March 2006. Total income rose 16.35% to Rs 14575.92 crore in Q4 March 2007 (Rs 12528.23 crore). The results were announced during trading hours on Monday, 25 June 2007.
Telecom services provider Bharti Airtel rose 1.89% to Rs 849, on 2.46 lakh shares as buying continued after HSBC Holdings Plc., recently raised price target of India’s top wireless services company by 9%, and said that the company will continue to expand market share. The one-year target was raised to Rs 1110.
State run engineering major Bharat Heavy Electricals (BHEL) gained 1.35% to Rs 1470.IT stocks which were trading firm till mid-afternoon session, pared gains. Satyam Computers rose 0.86% to Rs 457, while TCS (down 0.22% to Rs 1123), Infosys Technologies (down 0.50% to Rs 1926.10), and Wipro (down 1.18% to Rs 509) edged lower.
Index heavyweight Reliance Industries (RIL) slipped 0.35% to Rs 1,700, on 5.56 lakh shares. It had struck a high of Rs 1719.40. As per reports, the Prime Minister's Office (PMO) has referred the issue of pricing natural gas found off the east coast to a committee of secretaries. The move comes in the wake of differences the petroleum ministry has with the power and fertiliser ministries over the methodology adopted for arriving at the gas price.
Cement stocks Ambuja Cements (down 0.68% to Rs 116.45) and ACC (down 1.27% to Rs 845.25), edged lower on profit booking.ICICI Bank continued to shed value since the Foreign Investment Promotion Board (FIPB) on Monday, 25 June 2007, rejected ICICI Bank’s proposal to divest 24% stake in ICICI Financial Services in favour of foreign investors as a subsidiary could not take part in insurance business. It lost 0.70% to Rs 945.10.
Sensex was up 13.36 points or 0.09% at 14501.08, and the Nifty up 26.30 points or 0.62% at 4285.7.
State run oil exploration major Oil & Natural Gas Corporation (ONGC) gained 2.45% to Rs 939.10, on 2.96 lakh shares. It was the top gainer from the Sensex pack. It posted 13% fall in net profit to Rs 2681.64 crore in Q4 March 2007 compared to a net profit of 3085.89 crore in Q4 March 2006. Total income rose 16.35% to Rs 14575.92 crore in Q4 March 2007 (Rs 12528.23 crore). The results were announced during trading hours on Monday, 25 June 2007.
Telecom services provider Bharti Airtel rose 1.89% to Rs 849, on 2.46 lakh shares as buying continued after HSBC Holdings Plc., recently raised price target of India’s top wireless services company by 9%, and said that the company will continue to expand market share. The one-year target was raised to Rs 1110.
State run engineering major Bharat Heavy Electricals (BHEL) gained 1.35% to Rs 1470.IT stocks which were trading firm till mid-afternoon session, pared gains. Satyam Computers rose 0.86% to Rs 457, while TCS (down 0.22% to Rs 1123), Infosys Technologies (down 0.50% to Rs 1926.10), and Wipro (down 1.18% to Rs 509) edged lower.
Index heavyweight Reliance Industries (RIL) slipped 0.35% to Rs 1,700, on 5.56 lakh shares. It had struck a high of Rs 1719.40. As per reports, the Prime Minister's Office (PMO) has referred the issue of pricing natural gas found off the east coast to a committee of secretaries. The move comes in the wake of differences the petroleum ministry has with the power and fertiliser ministries over the methodology adopted for arriving at the gas price.
Cement stocks Ambuja Cements (down 0.68% to Rs 116.45) and ACC (down 1.27% to Rs 845.25), edged lower on profit booking.ICICI Bank continued to shed value since the Foreign Investment Promotion Board (FIPB) on Monday, 25 June 2007, rejected ICICI Bank’s proposal to divest 24% stake in ICICI Financial Services in favour of foreign investors as a subsidiary could not take part in insurance business. It lost 0.70% to Rs 945.10.
Labels: Nifty.Sensex
posted by SY at 4:14 PM
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