Markets end flat amid volatility
The markets ended the day flat amid a highly volatile session. After touching the 21,000 mark Sensex shed most of its gains. After a stellar performance in the past two weeks midcaps were looking tired and the midcap index ended deep red. This has gave markets negative breadth.
Sensex closed up 60.68 points or 0.29% at 20873.33, and the Nifty up 8.75 points or 0.14% at 6287.85.
Reliance Industries was up 1.05% to Rs 3,047.25, off session's high of Rs 3083.India’s largest private sector bank by assets ICICI Bank fell 1.71% to Rs 1,340.05.
Reliance Natural Resources rose 7.15% to Rs 244.15, on huge volume of 4.23 crore shares on BSE.
Consumer durables stocks declined. Videocon Industries (down 4.13% to Rs 697.60),Titan Industries (down 3.99% to Rs 1,600.15) and Blue Star (down 1.43% to Rs 515) edged lower.
Gitanjali Gems declined 2.45% to Rs 428.15. The company has bought ‘Nakshatra’, the premium brand of jewellery promoted by Diamond Trading Company (DTC), for approximately Rs 100 crore through its Dubai-based subsidiary, Gitanjali Ventures. In a separate development, Gitanjali Gems also said it bought diamond and jewellery manufacturer and distributor Brightest Circle Jewellery.
Metal stocks declined. Tata Steel (down 4.19% to Rs 866.95), Sterlite Industries (down 2.45% to Rs 1,040), Steel Authority of India (down 2.79% to Rs 263.50), Hindalco Industries (down 3.75% to Rs 209) and National Aluminium Company (down 5.79% to Rs 495) edged lower.
IT stocks rose. India’s second largest IT exporter by sales Infosys rose 1.64% to Rs 1,665. Wipro (up 1.17% to Rs 489) and Tata Consultancy Services (up 1.62% to Rs 992) edged higher.
Satyam Computer Services, India's fourth-biggest software exporter in terms of sales rose 3.28% to Rs 427 after it, said on Monday, 7 January 2008, it had received a major contract from the Irish Further Education and Training Awards Council.
India's biggest power equipment maker by revenue, Bharat Heavy Electricals (Bhel), declined 0.59% to Rs 2,494.30 after the company signed a joint venture agreement with NTPC for establishment and operation of a joint venture company for taking up engineering, procurement and construction business.
Healthcare stocks declined. Cipla (down 1.3% to Rs 209.15), Dr. Reddy’s Laboratories (down 1.35% to Rs 702.60), Fortis Healthcare (down 6.73% to Rs 110.25), Ranbaxy Laboratories (down 0.57% to Rs 418.50) edged lower.
Auto stocks declined. Tata Motors (down 1.56% to Rs 774.20), Maruti Suzuki India (down 2.43% to Rs 939.65), Hero Honda Motors (down 1.79% to Rs 690.10) edged lower. Bajaj Auto rose 0.1% to Rs 2,538.05.
Bahrti Airtel (up 4.01% to Rs 974.15), HDFC Bank (up 3.58% to Rs 1,716.30), State Bank of India (up 2.59% to Rs 2,465.25) edged higher.
India's second largest power utility by revenue Reliance Energy declined 1.86% to Rs 2,536. Reliance Energy and the infrastructure major GMR Infrastructure are the only Indian firms shortlisted for buying the $2 billion Tuas Power, owned by Singapore’s state investor Temasek Holdings.
Manaksia settled at Rs 168.10 on BSE a premium of 5.06% over the IPO price of Rs 160. It debuted at Rs 200 a premium of 25% over the IPO price. The public issue of Kolkata-based Manaksia had ended on 19 December 2007. The IPO was subscribed 9 times. It received bids for 13.61 crore shares against 1.55 crore shares on offer. The price band of the issue had been fixed between Rs 140-160.
Mahindra & Mahindra, India's biggest tractor and utility vehicle maker by revenue, rose 2.41% to Rs 830.10 after it acquired the business of G R Grafica Ricerca Design S.r.l (GRD), an Italian auto designing, body engineering and feasibility and styling company based out of Turin, Italy.
Shares of cement firms that have units in Tamil Nadu were today. ACC lost 1.65% to Rs 985.05, Grasim Industries shed 3.26% to Rs 3,400.60 and India Cements lost 3.68% to Rs 277.10) edged lower. The stocks fell on reports that cement companies in Tamil Nadu are likely to cut cement prices after state government’s warning last week that their factories in the state would be taken over if they did not lower the prices immediately.
Sensex closed up 60.68 points or 0.29% at 20873.33, and the Nifty up 8.75 points or 0.14% at 6287.85.
Reliance Industries was up 1.05% to Rs 3,047.25, off session's high of Rs 3083.India’s largest private sector bank by assets ICICI Bank fell 1.71% to Rs 1,340.05.
Reliance Natural Resources rose 7.15% to Rs 244.15, on huge volume of 4.23 crore shares on BSE.
Consumer durables stocks declined. Videocon Industries (down 4.13% to Rs 697.60),Titan Industries (down 3.99% to Rs 1,600.15) and Blue Star (down 1.43% to Rs 515) edged lower.
Gitanjali Gems declined 2.45% to Rs 428.15. The company has bought ‘Nakshatra’, the premium brand of jewellery promoted by Diamond Trading Company (DTC), for approximately Rs 100 crore through its Dubai-based subsidiary, Gitanjali Ventures. In a separate development, Gitanjali Gems also said it bought diamond and jewellery manufacturer and distributor Brightest Circle Jewellery.
Metal stocks declined. Tata Steel (down 4.19% to Rs 866.95), Sterlite Industries (down 2.45% to Rs 1,040), Steel Authority of India (down 2.79% to Rs 263.50), Hindalco Industries (down 3.75% to Rs 209) and National Aluminium Company (down 5.79% to Rs 495) edged lower.
IT stocks rose. India’s second largest IT exporter by sales Infosys rose 1.64% to Rs 1,665. Wipro (up 1.17% to Rs 489) and Tata Consultancy Services (up 1.62% to Rs 992) edged higher.
Satyam Computer Services, India's fourth-biggest software exporter in terms of sales rose 3.28% to Rs 427 after it, said on Monday, 7 January 2008, it had received a major contract from the Irish Further Education and Training Awards Council.
India's biggest power equipment maker by revenue, Bharat Heavy Electricals (Bhel), declined 0.59% to Rs 2,494.30 after the company signed a joint venture agreement with NTPC for establishment and operation of a joint venture company for taking up engineering, procurement and construction business.
Healthcare stocks declined. Cipla (down 1.3% to Rs 209.15), Dr. Reddy’s Laboratories (down 1.35% to Rs 702.60), Fortis Healthcare (down 6.73% to Rs 110.25), Ranbaxy Laboratories (down 0.57% to Rs 418.50) edged lower.
Auto stocks declined. Tata Motors (down 1.56% to Rs 774.20), Maruti Suzuki India (down 2.43% to Rs 939.65), Hero Honda Motors (down 1.79% to Rs 690.10) edged lower. Bajaj Auto rose 0.1% to Rs 2,538.05.
Bahrti Airtel (up 4.01% to Rs 974.15), HDFC Bank (up 3.58% to Rs 1,716.30), State Bank of India (up 2.59% to Rs 2,465.25) edged higher.
India's second largest power utility by revenue Reliance Energy declined 1.86% to Rs 2,536. Reliance Energy and the infrastructure major GMR Infrastructure are the only Indian firms shortlisted for buying the $2 billion Tuas Power, owned by Singapore’s state investor Temasek Holdings.
Manaksia settled at Rs 168.10 on BSE a premium of 5.06% over the IPO price of Rs 160. It debuted at Rs 200 a premium of 25% over the IPO price. The public issue of Kolkata-based Manaksia had ended on 19 December 2007. The IPO was subscribed 9 times. It received bids for 13.61 crore shares against 1.55 crore shares on offer. The price band of the issue had been fixed between Rs 140-160.
Mahindra & Mahindra, India's biggest tractor and utility vehicle maker by revenue, rose 2.41% to Rs 830.10 after it acquired the business of G R Grafica Ricerca Design S.r.l (GRD), an Italian auto designing, body engineering and feasibility and styling company based out of Turin, Italy.
Shares of cement firms that have units in Tamil Nadu were today. ACC lost 1.65% to Rs 985.05, Grasim Industries shed 3.26% to Rs 3,400.60 and India Cements lost 3.68% to Rs 277.10) edged lower. The stocks fell on reports that cement companies in Tamil Nadu are likely to cut cement prices after state government’s warning last week that their factories in the state would be taken over if they did not lower the prices immediately.
Labels: Nifty.Sensex
posted by SY at 5:30 PM
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