Markets trade flat amid volatility
The market surged in early trade, with the BSE Sensex hit a record high above 21,000. The S&P CNX Nifty, too, struck all-time high.The market pared gains in a volatile trade in afternoon trade.The markets are trading flat amid volatility. Profit booking is seen in the broader markets with both the smallcap and smallcap index down over 1.5%. Power stocks like Tata Power, NTPC and Reliance Energy are trading weak.
At 1.55 hrs IST, the Sensex is up 40.42 points or 0.19% at 20853.07, and the Nifty up 4.15 points or 0.07% at 6283.25.
Reliance Industries was rose 1.7% to Rs 3,066.80, off session's low of Rs 3001.India’s largest private sector bank by assets ICICI Bank fell 3.11% to Rs 1,321.45 and was the top loser from Sensex pack.
IT stocks rose. Wipro (up 0.34% to Rs 485.85), Infosys (up 1.58% to Rs 1,664), and Tata Consultancy Services (up 1.6% to Rs 991.80) edged higher.
Satyam Computer Services, India's fourth-biggest software exporter in terms of sales rose 1.49% to Rs 419.60 after it, said on Monday, 7 January 2008, it had received a major contract from the Irish Further Education and Training Awards Council.
Capital goods stocks rose. Larsen & Toubro (up 1.57% to Rs 4,345) and Suzlon Energy (up 5.07% to Rs 2,280) edged higher. However, India's biggest power equipment maker by revenue, Bharat Heavy Electricals (Bhel), declined 0.44% to Rs 2,495.75 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 1.32% to Rs 209.10), Dr. Reddy’s Laboratories (down 0.59% to Rs 708, Fortis Healthcare (down 5.12% to Rs 112.15), Ranbaxy Laboratories (down 0.19% to Rs 420.10) edged lower.
Bahrti Airtel (up 1.96% to Rs 955), HDFC Bank (up 2.66% to Rs 1,701), State Bank of India (up 2.55% to Rs 2,464.20) edged higher.
Grasim Industries (down 2.74% to Rs 3,419) edged lower.
India's second largest power utility by revenue Reliance Energy declined 0.62% to Rs 2,568. 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.
Metal stocks declined. Tata Steel (down 2.14% to Rs 905.90), Sterlite Industries (down 1.73% to Rs 1,046.75), Steel Authority of India (down 1.77% to Rs 266.25), Hindalco Industries (down 3.06% to Rs 210.25) and National Aluminium Company (down 3.33% to Rs 507.90) edged lower.
Realty stocks declined. Ansal Properties & Infrastructure (down 3.05% to Rs 400.15), Peninsula Land (down 4.42% to Rs 153.65) Indiabulls Real Estate (down 3.64% to Rs 786), DLF (down 0.21% to Rs 1,136) and Unitech (down 1.89% to Rs 525.15) edged lower.
Manaksia was trading at Rs 179.70 on BSE a premium of 12.31% 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 2.39% to Rs 830 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.
Adani Enterprises declined 2.57% to Rs 1,220.50 after its board approved raising of equity/equity linked instruments up to Rs 3000 crore through qualified institutional placement.
At 1.55 hrs IST, the Sensex is up 40.42 points or 0.19% at 20853.07, and the Nifty up 4.15 points or 0.07% at 6283.25.
Reliance Industries was rose 1.7% to Rs 3,066.80, off session's low of Rs 3001.India’s largest private sector bank by assets ICICI Bank fell 3.11% to Rs 1,321.45 and was the top loser from Sensex pack.
IT stocks rose. Wipro (up 0.34% to Rs 485.85), Infosys (up 1.58% to Rs 1,664), and Tata Consultancy Services (up 1.6% to Rs 991.80) edged higher.
Satyam Computer Services, India's fourth-biggest software exporter in terms of sales rose 1.49% to Rs 419.60 after it, said on Monday, 7 January 2008, it had received a major contract from the Irish Further Education and Training Awards Council.
Capital goods stocks rose. Larsen & Toubro (up 1.57% to Rs 4,345) and Suzlon Energy (up 5.07% to Rs 2,280) edged higher. However, India's biggest power equipment maker by revenue, Bharat Heavy Electricals (Bhel), declined 0.44% to Rs 2,495.75 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 1.32% to Rs 209.10), Dr. Reddy’s Laboratories (down 0.59% to Rs 708, Fortis Healthcare (down 5.12% to Rs 112.15), Ranbaxy Laboratories (down 0.19% to Rs 420.10) edged lower.
Bahrti Airtel (up 1.96% to Rs 955), HDFC Bank (up 2.66% to Rs 1,701), State Bank of India (up 2.55% to Rs 2,464.20) edged higher.
Grasim Industries (down 2.74% to Rs 3,419) edged lower.
India's second largest power utility by revenue Reliance Energy declined 0.62% to Rs 2,568. 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.
Metal stocks declined. Tata Steel (down 2.14% to Rs 905.90), Sterlite Industries (down 1.73% to Rs 1,046.75), Steel Authority of India (down 1.77% to Rs 266.25), Hindalco Industries (down 3.06% to Rs 210.25) and National Aluminium Company (down 3.33% to Rs 507.90) edged lower.
Realty stocks declined. Ansal Properties & Infrastructure (down 3.05% to Rs 400.15), Peninsula Land (down 4.42% to Rs 153.65) Indiabulls Real Estate (down 3.64% to Rs 786), DLF (down 0.21% to Rs 1,136) and Unitech (down 1.89% to Rs 525.15) edged lower.
Manaksia was trading at Rs 179.70 on BSE a premium of 12.31% 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 2.39% to Rs 830 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.
Adani Enterprises declined 2.57% to Rs 1,220.50 after its board approved raising of equity/equity linked instruments up to Rs 3000 crore through qualified institutional placement.
Labels: Nifty.Sensex
posted by SY at 2:34 PM
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