Markets end flat; Unimpressive close for nifty
The markets ended on a flat note after a fiarly volatile session. The boader markets ended in red giving it a weak breadth.The market,however, was choppy today,24 July 2007 which is likely to be the case over the next two days ahead of the expiry of the July 2007 derivatives contracts on 26 July 2007.Sensex closed at 15,794.92 up 63 points and the Nifty closed at 4620.75 up 1.4 points.
Auto stocks came under selling pressure on profit booking. Top utility maker and tractor major Mahindra & Mahindra was down 3.13% to Rs 797.30.Tata Motors (down 2.87% to Rs 749), Maruti Udyog (down 1.52% to Rs 821) were the other losers from the auto sector.
India's top bike maker Hero Honda slipped 1.67% to Rs 693 after reporting a 20.1% fall in net profit to Rs 189.84 crore in Q1 June 2007 over Q1 June 2006.
Cement stocks also took a breather after recent rally. ACC (down 2.94% to Rs 797.30), Ambuja Cements (down 0.63% to Rs 134.35) and Grasim (down 0.20% to Rs 3025) declined from the cement pack.
Leading power utility Reliance Energy (REL) galloped 7.58% to Rs 768.95 on reports that it is in talks with commodity exchanges, the Multi Commodity Exchange (MCX) and the National Commodity Derivatives Exchange (NCDEX), to pick up equity stake in two power exchanges proposed to be set up by them.
Fourth largest software exporter Satyam Computer Services surged 4.95% to Rs 516 on announcing strategic initiatives to strengthen its presence in South Africa. The company is banking on a sizeable number of contracts emanating from South Africa in the coming years and sees potential in providing IT solutions to the banking and financial, energy and utilities and government sectors.
State-run engineering major Bharat Heavy Electricals (Bhel) continued galloping, and gained 4.56% to Rs 1,846 today, coming of its all-time high of Rs 1,899 struck earlier in the day.Engineering & construction major L&T gained 2.10% to Rs 2,669.
NTPC jumped 3.58% to Rs 163 after the state-run power generation firm signed an MoU with Asian Development Bank for setting up a joint venture company to undertake renewable power generation. NTPC and other government entities will hold up to 50% in the joint venture to be established with other strategic investors, who will hold the remainder. ADB is expected to acquire 20% at a later stage. Financial details were not disclosed.
Index heavyweight Reliance Industries (RIL) slipped 0.13% to Rs 1,908.50.
Real-state developer Housing Development and Infrastructure settled at Rs 558.60 on BSE, a modest premium of 11.72% over the price of Rs 500 per share. The stock debuted at Rs 567.50 and hit a low of Rs 473.50 and high of Rs 617.50.
Auto stocks came under selling pressure on profit booking. Top utility maker and tractor major Mahindra & Mahindra was down 3.13% to Rs 797.30.Tata Motors (down 2.87% to Rs 749), Maruti Udyog (down 1.52% to Rs 821) were the other losers from the auto sector.
India's top bike maker Hero Honda slipped 1.67% to Rs 693 after reporting a 20.1% fall in net profit to Rs 189.84 crore in Q1 June 2007 over Q1 June 2006.
Cement stocks also took a breather after recent rally. ACC (down 2.94% to Rs 797.30), Ambuja Cements (down 0.63% to Rs 134.35) and Grasim (down 0.20% to Rs 3025) declined from the cement pack.
Leading power utility Reliance Energy (REL) galloped 7.58% to Rs 768.95 on reports that it is in talks with commodity exchanges, the Multi Commodity Exchange (MCX) and the National Commodity Derivatives Exchange (NCDEX), to pick up equity stake in two power exchanges proposed to be set up by them.
Fourth largest software exporter Satyam Computer Services surged 4.95% to Rs 516 on announcing strategic initiatives to strengthen its presence in South Africa. The company is banking on a sizeable number of contracts emanating from South Africa in the coming years and sees potential in providing IT solutions to the banking and financial, energy and utilities and government sectors.
State-run engineering major Bharat Heavy Electricals (Bhel) continued galloping, and gained 4.56% to Rs 1,846 today, coming of its all-time high of Rs 1,899 struck earlier in the day.Engineering & construction major L&T gained 2.10% to Rs 2,669.
NTPC jumped 3.58% to Rs 163 after the state-run power generation firm signed an MoU with Asian Development Bank for setting up a joint venture company to undertake renewable power generation. NTPC and other government entities will hold up to 50% in the joint venture to be established with other strategic investors, who will hold the remainder. ADB is expected to acquire 20% at a later stage. Financial details were not disclosed.
Index heavyweight Reliance Industries (RIL) slipped 0.13% to Rs 1,908.50.
Real-state developer Housing Development and Infrastructure settled at Rs 558.60 on BSE, a modest premium of 11.72% over the price of Rs 500 per share. The stock debuted at Rs 567.50 and hit a low of Rs 473.50 and high of Rs 617.50.
Labels: Nifty.Sensex
posted by SY at 4:55 PM
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