Market ends higher: Midcaps,smallcaps underperform
The markets ended in green amid a highly volatile session on the back of positive cues from Asia. Buying interest was seen in FMCG, metal and capital good stocks. However reeling under pressure were realty, auto and pharma stocks.The market saw series of wild swings in first half of the day amid negative bias & soared in the second half on value buying coupled with short covering.
Sensex ended up 259.55 points or 1.86% at 14248.66, and the Nifty up 78.25 points or 1.92% at 4153.15.
Reliance Energy, the country’s second largest power generation and distribution company in terms of sales jumped 5.92% to Rs 733.
India’s leading power equipment maker Bharat Heavy Electricals soared 4.69% to Rs 1665 after winning contracts worth Rs 6500 crore for setting up power project units. The orders have been placed by Damodar Valley Corporation (DVC).
India’s largest listed cellular operator, Bharti Airtel surged 4.22% to Rs 847.55 on reports it will double its tower capacity to 80,000 by March 2008 as it grows its network to reach more towns and cities across the country, while expanding in the metros. Currently it has 40,000 towers.
Shares from metal sector recovered from sharp recent fall that was triggered by falling metal prices on London Metal Exchange (LME). India’s largest private sector steel maker Tata Steel surged 3.96% to Rs 567.70.
India’s largest cigarette manufacturer ITC jumped 3.94% to Rs 158.20 on high volumes of 26.07 lakh shares. As per reports, ITC has taken over Australian agri-biotech company Technico Pty for an undisclosed sum as part of a strategy to strengthen its foods business. The deal was executed through its subsidiary Russell Credit, ITC, which recently launched its Bingo brand potato chips. Technico provides bulk potato supply chain management.
Reliance Industries, the country’s top private sector entity by market capitalisation and oil refiner rose 1.47% to Rs 1773 on 10.64 lakh shares. It had slipped to day’s low of Rs 1717
India’s third largest pharma company Cipla saw intense volatility. It rose 0.23% to Rs 177.60 on 11.20 lakh shares. The stock recovered sharply from day’s low of Rs 160.
India’s top truck maker Tata Motors lost 2.10% to Rs 621.State Bank of India (down 0.58% to Rs 1455.25) and HDFC (down 0.16% to Rs 1898.55), were the other losers.
Sensex ended up 259.55 points or 1.86% at 14248.66, and the Nifty up 78.25 points or 1.92% at 4153.15.
Reliance Energy, the country’s second largest power generation and distribution company in terms of sales jumped 5.92% to Rs 733.
India’s leading power equipment maker Bharat Heavy Electricals soared 4.69% to Rs 1665 after winning contracts worth Rs 6500 crore for setting up power project units. The orders have been placed by Damodar Valley Corporation (DVC).
India’s largest listed cellular operator, Bharti Airtel surged 4.22% to Rs 847.55 on reports it will double its tower capacity to 80,000 by March 2008 as it grows its network to reach more towns and cities across the country, while expanding in the metros. Currently it has 40,000 towers.
Shares from metal sector recovered from sharp recent fall that was triggered by falling metal prices on London Metal Exchange (LME). India’s largest private sector steel maker Tata Steel surged 3.96% to Rs 567.70.
India’s largest cigarette manufacturer ITC jumped 3.94% to Rs 158.20 on high volumes of 26.07 lakh shares. As per reports, ITC has taken over Australian agri-biotech company Technico Pty for an undisclosed sum as part of a strategy to strengthen its foods business. The deal was executed through its subsidiary Russell Credit, ITC, which recently launched its Bingo brand potato chips. Technico provides bulk potato supply chain management.
Reliance Industries, the country’s top private sector entity by market capitalisation and oil refiner rose 1.47% to Rs 1773 on 10.64 lakh shares. It had slipped to day’s low of Rs 1717
India’s third largest pharma company Cipla saw intense volatility. It rose 0.23% to Rs 177.60 on 11.20 lakh shares. The stock recovered sharply from day’s low of Rs 160.
India’s top truck maker Tata Motors lost 2.10% to Rs 621.State Bank of India (down 0.58% to Rs 1455.25) and HDFC (down 0.16% to Rs 1898.55), were the other losers.
Labels: Nifty.Sensex
posted by SY at 4:30 PM
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