Markets end with hefty gains amid smart recovery
It was a strong day for the markets after few consecutive weak sessions. The markets witnessed smart recovery in the second half of trade after lacklusture performance in early trade on the back of heavy buying in the scrips across sectors led by IT, metal, auto and oil & gas.
The rally was mainly dominated by the large caps as the midcaps and smallcaps are still finding difficult to attract investors attention.Sensex ended up 584.71 points or 3.31% at 18233.42, and the Nifty was up 179.80 points or 3.50% at 5317.25.
Satyam Computer surged 7.88% to Rs 419.90 on 7.23 lakh shares. It was the top gainer from Sensex pack.
Other IT pivotals - Infosys Technoliges (up 5.40% to Rs 1585), Wipro (up 6.21% to Rs 439) and TCS (up 6.71% to Rs 934) also logged gains.
Auto stocks gained on fresh buying. Tata Motors, the country’s top truck market in terms of sales, advanced 6.35% to Rs 751. Its consolidated net profit rose 8.75% to Rs 654.79 crore on 13.85% growth in total income to Rs 9324.69 crore in Q3 December 2007 over Q3 December 2006. The results were announced after market hours on 31 January 2008
Maruti Suzuki India (up 6.15% to Rs 900.90), Bajaj Auto (up 4.26% to Rs 2456), and Mahindra & Mahindra (up 0.84% to Rs 675) were the other gainers from auto sector.
India’s largest dedicated housing finance company in terms of revenue Housing Finance Development Corporation gained 5.47% to Rs 2999. The company said on Thursday that it has reduced its retail prime lending rate (RPLR) by 25 basis points, with effect from 1 February 2008.
Tata Steel (up 5.93% to Rs 777), Hindalco Industries (up 6.71% to Rs 176.90) and ONGC (up 6.10% to Rs 1048.50), were the other gainers from Sensex pack.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) recovered from day’s low of Rs 2424. It rose 2.10% to Rs 2531 on 6.49 lakh shares.
From the banking pack, State bank of India (up 1.19% to Rs 2188), ICICI bank (up 5.10% to Rs 1204), and HDFC Bank (up 0.13% to Rs 1570), advanced.
DLF, the largest real estate developer in terms of market capitalisation was up 0.30% to Rs 815, off sharply from day’s high of Rs 870. The stock will replace Glaxosmithkline Pharmaceuticals, in S&P CNX Nifty index from 14 March 2008.
Cement shares rebounded from lower levels, but settled in red. India’s second biggest cement maker in terms of total production ACC slipped 3.72% to Rs 753.50, after sliding to a low of Rs 741.10. A total of 1.12 lakh shares changed hands on the counter. It was the top loser from Sensex pack.
North India’s largest cement company in terms of sales Ambuja Cements slipped 1.25% to Rs 118.10, off day’s low of Rs 115.30.
A good rollover in derivatives segment was witnessed when the January 2008 derivative contracts expired yesterday, 31 January 2008. As per reports, rollover of Nifty futures from January 2008 series to February 2008 series stood at 75% while rollover was 80% in stock futures
European markets, which opened after Indian market, were firm. Key benchmark indices in United Kingdom (up 1.43% to 5,963.80), France (up 1.56% to 4,945.54) and Germany (up 1.33% to 6,942.79) edged higher.
The rally was mainly dominated by the large caps as the midcaps and smallcaps are still finding difficult to attract investors attention.Sensex ended up 584.71 points or 3.31% at 18233.42, and the Nifty was up 179.80 points or 3.50% at 5317.25.
Satyam Computer surged 7.88% to Rs 419.90 on 7.23 lakh shares. It was the top gainer from Sensex pack.
Other IT pivotals - Infosys Technoliges (up 5.40% to Rs 1585), Wipro (up 6.21% to Rs 439) and TCS (up 6.71% to Rs 934) also logged gains.
Auto stocks gained on fresh buying. Tata Motors, the country’s top truck market in terms of sales, advanced 6.35% to Rs 751. Its consolidated net profit rose 8.75% to Rs 654.79 crore on 13.85% growth in total income to Rs 9324.69 crore in Q3 December 2007 over Q3 December 2006. The results were announced after market hours on 31 January 2008
Maruti Suzuki India (up 6.15% to Rs 900.90), Bajaj Auto (up 4.26% to Rs 2456), and Mahindra & Mahindra (up 0.84% to Rs 675) were the other gainers from auto sector.
India’s largest dedicated housing finance company in terms of revenue Housing Finance Development Corporation gained 5.47% to Rs 2999. The company said on Thursday that it has reduced its retail prime lending rate (RPLR) by 25 basis points, with effect from 1 February 2008.
Tata Steel (up 5.93% to Rs 777), Hindalco Industries (up 6.71% to Rs 176.90) and ONGC (up 6.10% to Rs 1048.50), were the other gainers from Sensex pack.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) recovered from day’s low of Rs 2424. It rose 2.10% to Rs 2531 on 6.49 lakh shares.
From the banking pack, State bank of India (up 1.19% to Rs 2188), ICICI bank (up 5.10% to Rs 1204), and HDFC Bank (up 0.13% to Rs 1570), advanced.
DLF, the largest real estate developer in terms of market capitalisation was up 0.30% to Rs 815, off sharply from day’s high of Rs 870. The stock will replace Glaxosmithkline Pharmaceuticals, in S&P CNX Nifty index from 14 March 2008.
Cement shares rebounded from lower levels, but settled in red. India’s second biggest cement maker in terms of total production ACC slipped 3.72% to Rs 753.50, after sliding to a low of Rs 741.10. A total of 1.12 lakh shares changed hands on the counter. It was the top loser from Sensex pack.
North India’s largest cement company in terms of sales Ambuja Cements slipped 1.25% to Rs 118.10, off day’s low of Rs 115.30.
A good rollover in derivatives segment was witnessed when the January 2008 derivative contracts expired yesterday, 31 January 2008. As per reports, rollover of Nifty futures from January 2008 series to February 2008 series stood at 75% while rollover was 80% in stock futures
European markets, which opened after Indian market, were firm. Key benchmark indices in United Kingdom (up 1.43% to 5,963.80), France (up 1.56% to 4,945.54) and Germany (up 1.33% to 6,942.79) edged higher.
Labels: Nifty.Sensex
posted by SY at 4:45 PM
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