Markets end strong but off day's high
The market surged for the second straight day in volatile trade on continued buying support in index pivotals. The market had soared in afternoon trade extending early gains as Asian stocks rose with sentiment boosted by Microsoft Corp's bid for Yahoo Inc and following China's buy of a large stake in takeover target Rio Tinto.
Sensex ended up 417.74 points or 2.29% at 18660.32, and the Nifty was up 146.25 points or 2.75% at 5463.50.
Reliance Communications (RCom) galloped 13.01% to Rs 691.40 on 35.23 lakh shares. It was the top gainer from Sensex pack. Reliance Infratel, a subsidiary of RCom has filed its draft red herring prospectus for an initial public offer (IPO) with the Securities and Exchange Board of India (Sebi). The company will offer 8,91,64,100 shares of Rs 5 each for cash, constituting 10.05% of its post-issue paid-up equity capital.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 2.22% to Rs 2598.20. 6.93 lakh shares changed hands on the counter on BSE. The stock moved in a range of Rs 2562 and Rs 2643 during the day.
ICICI Bank, the country’s largest private sector bank in terms of net profit slipped from day’s high of Rs 1245.20. It was up 1.11% to Rs 1211.
DLF, the largest real estate developer in terms of market capitalisation advanced 9.89% to Rs 894. The stock will replace Glaxosmithkline Pharmaceuticals, in S&P CNX Nifty index from 14 March 2008.
IT stocks extended Friday (1 February 2008)’s gains after Microsoft on Friday made a $45 billion bid for Yahoo Inc. Infosys Technologies (up 3.39% to Rs 1645), TCS (up 4.17% to Rs 968.10) and Satyam Computers (up 3.33% to Rs 435.05), gained.
India’s third largest software services exporter Wipro soared 6.11% to Rs 464 on reports the company plans to build electronic warfare systems, radars and flight simulators locally for US defence contractors.
Tata Motors, the country’s largest truck manufacturer in terms of sales, rose 2.10% to Rs 770.05. It reported a 11.76% fall in its passenger car sales in the domestic market during January 2008 at 20,119 units compared with 22,801 units in the same month a year ago.
Steel stocks were in action on reports of price hike. Tata Steel gained 3.93% to Rs 807, and Steel Authority of India (Sail) rose 2.26% to Rs 231. Tata Steel has increased the prices of hot rolled (HR) coils by Rs 2,000-2,500 per tonne, while Steel Authority of India Ltd (Sail) has hike prices by Rs 1,500-2,500 per tonne.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation (ONGC) saw high volatility today. It slipped sharply from day’s high of Rs 1121.90 to day’s low of Rs 1032. It settled 1.87% higher at Rs 1064. As per reports, British oil major British Gas is all set to pick up a 30% stake in ONGC’s Krishna Godawari basin block and 25% in Mahanadi basin block.
India’s top small car maker in terms of sales Maruti Suzuki India slipped 1.30% to Rs 893. It was the top loser from Sensex pack. The stock slipped from day’s high of Rs 924.90
Reliance Energy (down 0.69% to Rs 2001), ITC (down 0.17% to Rs 2040.50), HDFC Bank (down 1.03% to Rs 1551.10), were the other losers from Sensex pack.
Sensex ended up 417.74 points or 2.29% at 18660.32, and the Nifty was up 146.25 points or 2.75% at 5463.50.
Reliance Communications (RCom) galloped 13.01% to Rs 691.40 on 35.23 lakh shares. It was the top gainer from Sensex pack. Reliance Infratel, a subsidiary of RCom has filed its draft red herring prospectus for an initial public offer (IPO) with the Securities and Exchange Board of India (Sebi). The company will offer 8,91,64,100 shares of Rs 5 each for cash, constituting 10.05% of its post-issue paid-up equity capital.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 2.22% to Rs 2598.20. 6.93 lakh shares changed hands on the counter on BSE. The stock moved in a range of Rs 2562 and Rs 2643 during the day.
ICICI Bank, the country’s largest private sector bank in terms of net profit slipped from day’s high of Rs 1245.20. It was up 1.11% to Rs 1211.
DLF, the largest real estate developer in terms of market capitalisation advanced 9.89% to Rs 894. The stock will replace Glaxosmithkline Pharmaceuticals, in S&P CNX Nifty index from 14 March 2008.
IT stocks extended Friday (1 February 2008)’s gains after Microsoft on Friday made a $45 billion bid for Yahoo Inc. Infosys Technologies (up 3.39% to Rs 1645), TCS (up 4.17% to Rs 968.10) and Satyam Computers (up 3.33% to Rs 435.05), gained.
India’s third largest software services exporter Wipro soared 6.11% to Rs 464 on reports the company plans to build electronic warfare systems, radars and flight simulators locally for US defence contractors.
Tata Motors, the country’s largest truck manufacturer in terms of sales, rose 2.10% to Rs 770.05. It reported a 11.76% fall in its passenger car sales in the domestic market during January 2008 at 20,119 units compared with 22,801 units in the same month a year ago.
Steel stocks were in action on reports of price hike. Tata Steel gained 3.93% to Rs 807, and Steel Authority of India (Sail) rose 2.26% to Rs 231. Tata Steel has increased the prices of hot rolled (HR) coils by Rs 2,000-2,500 per tonne, while Steel Authority of India Ltd (Sail) has hike prices by Rs 1,500-2,500 per tonne.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation (ONGC) saw high volatility today. It slipped sharply from day’s high of Rs 1121.90 to day’s low of Rs 1032. It settled 1.87% higher at Rs 1064. As per reports, British oil major British Gas is all set to pick up a 30% stake in ONGC’s Krishna Godawari basin block and 25% in Mahanadi basin block.
India’s top small car maker in terms of sales Maruti Suzuki India slipped 1.30% to Rs 893. It was the top loser from Sensex pack. The stock slipped from day’s high of Rs 924.90
Reliance Energy (down 0.69% to Rs 2001), ITC (down 0.17% to Rs 2040.50), HDFC Bank (down 1.03% to Rs 1551.10), were the other losers from Sensex pack.
Labels: Nifty.Sensex
posted by SY at 6:06 PM
0 Comments:
Post a Comment
<< Home