Markets recover in the late trade
The market which was volatile right from opening bell, saw intense volatility in the last hour of trade, swinging wildly.Markets saw a good turnaround after slipping deep in red in the noon trade and closed flat. The sharp fall triggered by profit booking after recent rally, was reversed by short covering and value buying. Asian and European markets were subdued.
Sensex ended up 11.35 points or 0.07% at 15301.17, and the Nifty up 2.80 points or 0.06% at 4499.55.
Aluminium and copper major Hindalco Industries surged 4.62% to Rs 186.80.Telecom pivotals - Reliance Communications (up 1.62% to Rs 569.90) and Bharti Airtel (up 3.45% to Rs 893.10) saw strong buying interest. Both the firms had reported robust subscriber additions in the month of June 2007.
Two-wheeler major Bajaj Auto advanced 3.24% to Rs 2,291. Recently, there were reports that the company is looking for a big-ticket acquisition in the European motorcycle market, and that bike companies -Ducati Motor Holding of Italy and Triumph Motorcycles of the UK are among the possible targets.
Cement stocks, which were quiet for most part of the day, suddenly firmed up in the last one hour of trade. ACC (up 2.74% to Rs 1141), Grasim (up 2.10% to Rs 2915), and Birla Corporation (up 3.06% to Rs 303.10), gained from the cement pack.
Reliance Energy (REL) slipped 1.35% to Rs 689.15 despite reporting net profit rise of 25.45% to Rs 221.56 crore in Q1 June 2007 as against Rs 176.61 crore in Q1 June 2006. Total income rose 49.62% to 1983.93 crore (Rs 1325.97 crore) during market hours today.
ONGC (down 1.72% to Rs 892), ITC (down 1.57% to Rs 153.25) and Satyam Computers (down 1.38% to Rs 481.55) slipped on profit booking.Reliance Industries (RIL) declined 0.89% to Rs 1,811.10.
Sensex ended up 11.35 points or 0.07% at 15301.17, and the Nifty up 2.80 points or 0.06% at 4499.55.
Aluminium and copper major Hindalco Industries surged 4.62% to Rs 186.80.Telecom pivotals - Reliance Communications (up 1.62% to Rs 569.90) and Bharti Airtel (up 3.45% to Rs 893.10) saw strong buying interest. Both the firms had reported robust subscriber additions in the month of June 2007.
Two-wheeler major Bajaj Auto advanced 3.24% to Rs 2,291. Recently, there were reports that the company is looking for a big-ticket acquisition in the European motorcycle market, and that bike companies -Ducati Motor Holding of Italy and Triumph Motorcycles of the UK are among the possible targets.
Cement stocks, which were quiet for most part of the day, suddenly firmed up in the last one hour of trade. ACC (up 2.74% to Rs 1141), Grasim (up 2.10% to Rs 2915), and Birla Corporation (up 3.06% to Rs 303.10), gained from the cement pack.
Reliance Energy (REL) slipped 1.35% to Rs 689.15 despite reporting net profit rise of 25.45% to Rs 221.56 crore in Q1 June 2007 as against Rs 176.61 crore in Q1 June 2006. Total income rose 49.62% to 1983.93 crore (Rs 1325.97 crore) during market hours today.
ONGC (down 1.72% to Rs 892), ITC (down 1.57% to Rs 153.25) and Satyam Computers (down 1.38% to Rs 481.55) slipped on profit booking.Reliance Industries (RIL) declined 0.89% to Rs 1,811.10.
Labels: Nifty.Sensex
posted by SY at 3:11 PM
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