Markets snaps three day rally
The market saw a complete trend reversal in today’s (17 July 2007) trading session. After remaining firm till early-afternoon trade, the market turned volatile later and started declining on profit booking at higher level. Weakness in European stocks weighed on the domestic bourses.
The BSE 30-share Sensex lost 21.40 points or 0.14% at 15,289.82.The S&P CNX Nifty also struck an all-time high of 4,550.25 today. It lost 15.40 points or 0.34% at 4,496.75.
The ongoing infrastructure boom continued to boost cement stocks. Cement major Ambuja Cement advanced 3.15% to Rs 137.50.JK Cement (up 0.97% to Rs 156.10), Birla Corporation (up 0.86% to Rs 294), and Madras Cement (up 1.22% to Rs 3540) were the other gaines from the cement pack.
Index heavyweight Reliance Industries (RIL) rallied to an all-time high of Rs 1,834.TCS jumped 2.23% to Rs 1,153.Satyam Computer Services advanced 1.23% to Rs 488 on bagging four major deals in Singapore, Australia and UAE for IT services and outsourcing. Wipro gained 1.25% to Rs 507. However Infosys slipped 0.07% to Rs 1,933.
Auto stocks saw profit booking after a recent rally, as crude oil headed towards $75 per barrel mark. Mahindra & Mahindra (M&M) slumped 2.46% to Rs 801, and was the top loser from the Sensex pack. Tata Motors (down 1.70% to Rs 746.30) and Bajaj Auto (down 1.70% to Rs 2217) were the other losers from the auto sector.
Banking pivotals State Bank of India (down 2.37% to Rs 1,575.25) and HDFC Bank (down 1.55% to Rs 1,196.95) slipped on profit booking.
Zee News jumped 10.75% to Rs 49.95 after reporting a net profit of Rs 6.38 crore on sales of Rs 74.46 crore in Q1 June 2007. Figures for the corresponding period in the previous quarter were not available. Its operating profit stood at Rs. 11.91 crore. During this period, advertisement revenue was Rs 59.24 crore and the subscription revenue was at Rs 13.64 crore. The company had declared the results after market hours, yesterday, 16 July 2007.
The BSE 30-share Sensex lost 21.40 points or 0.14% at 15,289.82.The S&P CNX Nifty also struck an all-time high of 4,550.25 today. It lost 15.40 points or 0.34% at 4,496.75.
The ongoing infrastructure boom continued to boost cement stocks. Cement major Ambuja Cement advanced 3.15% to Rs 137.50.JK Cement (up 0.97% to Rs 156.10), Birla Corporation (up 0.86% to Rs 294), and Madras Cement (up 1.22% to Rs 3540) were the other gaines from the cement pack.
Index heavyweight Reliance Industries (RIL) rallied to an all-time high of Rs 1,834.TCS jumped 2.23% to Rs 1,153.Satyam Computer Services advanced 1.23% to Rs 488 on bagging four major deals in Singapore, Australia and UAE for IT services and outsourcing. Wipro gained 1.25% to Rs 507. However Infosys slipped 0.07% to Rs 1,933.
Auto stocks saw profit booking after a recent rally, as crude oil headed towards $75 per barrel mark. Mahindra & Mahindra (M&M) slumped 2.46% to Rs 801, and was the top loser from the Sensex pack. Tata Motors (down 1.70% to Rs 746.30) and Bajaj Auto (down 1.70% to Rs 2217) were the other losers from the auto sector.
Banking pivotals State Bank of India (down 2.37% to Rs 1,575.25) and HDFC Bank (down 1.55% to Rs 1,196.95) slipped on profit booking.
Zee News jumped 10.75% to Rs 49.95 after reporting a net profit of Rs 6.38 crore on sales of Rs 74.46 crore in Q1 June 2007. Figures for the corresponding period in the previous quarter were not available. Its operating profit stood at Rs. 11.91 crore. During this period, advertisement revenue was Rs 59.24 crore and the subscription revenue was at Rs 13.64 crore. The company had declared the results after market hours, yesterday, 16 July 2007.
Labels: Nifty.Sensex
posted by SY at 5:39 PM
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