Markets end with moderate gains amid volatility
The market saw intense volatility throughout the day on alternate bouts of buying and selling. It was going strong till mid-afternoon trade, after which profit booking emerged at higher levels, dragging it lower.Most of the Asian markets stabilised after initial volatility while a majority of European indices were trading higher.Sensex ended up 49.93 points or 0.33% at 14985.70, and the Nifty up 10.50 points or 0.24% at 4356.35.
Tata Motors slipped 2.26% to Rs 652.Hero Honda Motors shed 1.36% to Rs 660 after it said on Wednesday, 1 August 2007, it sold 2,01,191 units in July 2007, down 14.5 % from 2,35,314 sold in June 2006. The announcement was made after trading hours.Bajaj Auto slipped 0.17% to Rs 2284 after India's second-biggest motorcycle maker’s vehicle sales in July 2007 fell 7% to 185,890 units over July 2006. Mahindra & Mahindra (M&M) declined 2.98% to Rs 673 despite its sales rising 46% in July 2007 to 19,163 units over July 2006.
However, Maruti Udyog rose 1.7% to Rs 835 on the back of a 24.8% rise in total vehicles sales to 57,909 vehicles in July 2007 over July 2006. The company sold 52,839 vehicles in the domestic market in July 2007, a rise of 18.33% over the same period last year.
India’s largest commercial bank State Bank of India jumped 2.95% to Rs 1594.It is holding talks with potential partners for its non-life insurance venture. It is also keeping options open for going alone in the general insurance business. SBI already has a foreign partner, Cardif SA of France, for its life insurance venture. It holds a 26% stake and the balance 74% is held by SBI. SBI also plans to set up a holding company to transfer its share holding in its insurance and asset management subsidiaries.ICICI Bank rose 0.86% to Rs 899.
Telecom pivotals Reliance Communications (up 2.34% to Rs 543), Bharti Airtel (up 1.95% to Rs 879.75) gained on bargain hunting.
Cement stocks showed strength on fresh buying. India’s second largest cement producer ACC advanced 2% to Rs 985. ACC's cement dispatches jumped 14.68% to 16.4 lakh tonnes in July 2007 over July 2006.Ambuja Cements gained 1.55% to Rs 131 after its cement dispatches rose 20% to 13.9 lakh tonnes in July 2007 over July 2006.
Reliance Energy (REL), India's second largest power generation and distribution company in terms of sales, rose 2.27% to Rs 754 on reports that it has emerged as the sole bidder for a Damodar Valley Corporation (DVC) power project in the Purulia district of West Bengal.
India’s largest private sector company Reliance Industries (RIL), which had surged to a high of Rs 1839, pared gains and managed to end just 0.18% higher at Rs 1801.25. As per reports, the government is likely to clear the price quoted by RIL for its gas from the Krishna-Godavari basin without seeking to control the price.
Battered real-estate stocks, worst hit in yesterday’s meltdown, made a comback today on bargain hunting. Unitech (up 3.82% to Rs 534), DLF (up 0.61% to Rs 588.15), Orbit Corporation (up 4.45% to Rs 334.40) and Indiabulls Real Estate (up 2.24% to Rs 511.85) ended higher.
Asian markets were trading mixed amid high volatility. Shanghai Composite (up 2.49% to 4,407.73), Nikkei 225 (up 0.67% to 16,984.11) and Taiwan Weighted (up 0.66% to 8,950.57) gained. Hang Seng (down 0.05% to 22,443.56), and Seoul Composite (down 0.18% to 1,853.07) slipped.
Tata Motors slipped 2.26% to Rs 652.Hero Honda Motors shed 1.36% to Rs 660 after it said on Wednesday, 1 August 2007, it sold 2,01,191 units in July 2007, down 14.5 % from 2,35,314 sold in June 2006. The announcement was made after trading hours.Bajaj Auto slipped 0.17% to Rs 2284 after India's second-biggest motorcycle maker’s vehicle sales in July 2007 fell 7% to 185,890 units over July 2006. Mahindra & Mahindra (M&M) declined 2.98% to Rs 673 despite its sales rising 46% in July 2007 to 19,163 units over July 2006.
However, Maruti Udyog rose 1.7% to Rs 835 on the back of a 24.8% rise in total vehicles sales to 57,909 vehicles in July 2007 over July 2006. The company sold 52,839 vehicles in the domestic market in July 2007, a rise of 18.33% over the same period last year.
India’s largest commercial bank State Bank of India jumped 2.95% to Rs 1594.It is holding talks with potential partners for its non-life insurance venture. It is also keeping options open for going alone in the general insurance business. SBI already has a foreign partner, Cardif SA of France, for its life insurance venture. It holds a 26% stake and the balance 74% is held by SBI. SBI also plans to set up a holding company to transfer its share holding in its insurance and asset management subsidiaries.ICICI Bank rose 0.86% to Rs 899.
Telecom pivotals Reliance Communications (up 2.34% to Rs 543), Bharti Airtel (up 1.95% to Rs 879.75) gained on bargain hunting.
Cement stocks showed strength on fresh buying. India’s second largest cement producer ACC advanced 2% to Rs 985. ACC's cement dispatches jumped 14.68% to 16.4 lakh tonnes in July 2007 over July 2006.Ambuja Cements gained 1.55% to Rs 131 after its cement dispatches rose 20% to 13.9 lakh tonnes in July 2007 over July 2006.
Reliance Energy (REL), India's second largest power generation and distribution company in terms of sales, rose 2.27% to Rs 754 on reports that it has emerged as the sole bidder for a Damodar Valley Corporation (DVC) power project in the Purulia district of West Bengal.
India’s largest private sector company Reliance Industries (RIL), which had surged to a high of Rs 1839, pared gains and managed to end just 0.18% higher at Rs 1801.25. As per reports, the government is likely to clear the price quoted by RIL for its gas from the Krishna-Godavari basin without seeking to control the price.
Battered real-estate stocks, worst hit in yesterday’s meltdown, made a comback today on bargain hunting. Unitech (up 3.82% to Rs 534), DLF (up 0.61% to Rs 588.15), Orbit Corporation (up 4.45% to Rs 334.40) and Indiabulls Real Estate (up 2.24% to Rs 511.85) ended higher.
Asian markets were trading mixed amid high volatility. Shanghai Composite (up 2.49% to 4,407.73), Nikkei 225 (up 0.67% to 16,984.11) and Taiwan Weighted (up 0.66% to 8,950.57) gained. Hang Seng (down 0.05% to 22,443.56), and Seoul Composite (down 0.18% to 1,853.07) slipped.
Labels: Nifty.Sensex
posted by SY at 5:22 PM
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