Wednesday, January 09, 2008

Sensex retraces from record high

The markets closed the day on a weak note with the broader markets seeing a sharp cut.
The market came sharply off higher level in late trade on a volatile day of trade. Earlier, the market had recovered from an initial slump to hit a record high in mid-afternoon trade. Capital goods, auto, metal, FMCG stocks declined. IT stocks rose. BSE Mid-Cap and Small-Cap indices underperformed Sensex.

Sensex closed down 3.55 points or 0.02% at 20869.78, and the Nifty down 15.85 points or 0.25% at 6272.00.

Reliance Communications (up 3.02% to Rs 828.60), HDFC (up 5.83% to Rs 3,243) and Grasim Industries (up 2.33% to Rs 3,480) edged higher.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries declined 0.67% to Rs 3,030.

Capital goods stocks declined. Bharat Heavy Electricals (down 2.22% to Rs 2,439), Larsen & Toubro (down 0.24% to Rs 4,322.50) and Suzlon Energy (down 1.26% to Rs 2,245) edged lower.

Auto stocks declined. Tata Motors (down 0.54% to Rs 770), Bajaj Auto (down 0.36% to Rs 2,529), Maruti Suzuki India (down 2.52% to Rs 916), Hero Honda Motors (down 0.3% to Rs 688.05) edged lower.

Mahindra & Mahindra declined 2.67% to Rs 807.90 after the company said Mahindra Holidays & Resorts India (MHRIL), a leisure hospitality provider offering family holidays, has finalised a 2% private placement deal with the State Bank of India for a consideration of around Rs 80 crore.

FMCG majors declined. ITC (down 1.6% to Rs 227) and Hindustan Unilever (down 0.4% to 233.70) edged lower.

Metal stocks declined. Tata Steel (down 0.43% to Rs 888), Steel Authority of India (down 0.78% to Rs 261.25), National Alluminium Company (down 0.5% to Rs 498) edged lower. Hindalco Industries (up 1.22% to Rs 211.50) and Sterlite Industries (up 0.73% to Rs 1,042.35) edged higher.

India’s largest private sector bank by assets ICICI Bank declined 1.73% to Rs 1,310.45.

IT stocks rose. Wipro (up 0.6% to Rs 490.85) Satyam Computer Services (up 0.8% to Rs 427.90) and Tata Consultancy Services (up 0.36% to Rs 994.10) edged higher. India’s second largest IT exporter by sales Infosys Technologies declined 0.4% to Rs 1,655.55.

NTPC (up 4.49% to Rs 277.15), HDFC (up 3.59% to Rs 3,174.25), RelianceCommunications (up 2.05% to Rs 820.80) and HDFC Bank (up 1.68% to Rs 1,745.10) edged higher.

ONGC (down 1.76% to Rs 1,298.65), Ranbaxy Laboretories (down 1.65% to rs 411.60) edged lower.

Labels:

0 Comments:

Post a Comment

<< Home