Sensex hits a new high, ends 85 pts up
It was a negative start for equities on the major Indian bourses this morning as weak global markets triggered a sell-off in early trade. However, with a few blue chip stocks bouncing back strongly, the Sensex, which had tumbled 245 points to 20,045.42 earlier, pulled back smartly and emerged into the positive territory in a flash.
But then, due to lack of support at higher levels, it turned out to be a rather choppy ride for the key indices till a little past mid afternoon. Buoyant industrial production data also failed the lift the sentiment in a significant way. Realty, metal and healthcare stocks were the ones in demand while IT, bank and auto stocks lagged behind.
Finally, making a dramatic comeback, the bulls began to mop up stocks in a frenzied way and lifted the Sensex to a new high at 20,419.11 in late afternoon trade. The Nifty also raced to a new peak at 6175.65. While the Sensex ended the day with a sharp gain of 84.98 points or 0.42% at 20,375.87, the Nifty settled at 6159.30, up 1.02% or 62.05 points over its previous closing mark. In intra-day trades today, the Nifty touched a low of 6005.45.
Housing finance stock HDFC, which hogged the limelight this afternoon, closed with a handsome gain of 5.35% at Rs 3103.95. Telecom stocks Reliance Communications and Bharti Airtel gained 3.55% and 2.25% respectively. Metal majors Tata Steel and Hindalco rallied 3.45% and 3.1% respectively. Power stock NTPC firmed up by 3.25% to Rs 251. Cipla (2.4%), ONGC (1.4%), Tata Consultancy Services (0.95%), ITC (0.9%), DLF (0.75%), Mahindra & Mahindra (0.65%) and Ranbaxy Laboratories (0.65%) also ended on a firm note.
HDFC Bank, which bounced back strongly in afternoon trade, closed with a modest gain of 0.55%. Hindustan Unilever edged up by 0.4%. Reliance Industries and Grasim Industries gained around a quarter per cent each. Wipro settled with a small gain at Rs 506.55.
Among the losers, Infosys Technologies eased by 3.3% to Rs 1684.80.
Satyam Computer Services ended with a loss of 2.35% at Rs 431.15. ICICI Bank slipped by 1.95% to Rs 1290.30. BHEL (down 0.8%), Reliance Energy (down 0.7%) and Bajaj Auto (down 0.55%) also closed with notable losses. Ambuja Cements, Maruti Suzuki, Tata Motors, State Bank of India, ACC and Larsen & Toubro also ended on a subdued note.
Nifty stock Nalco vaulted to a high of Rs 459.65 before settling for the day at Rs 451.95 with a big gain of 11.6%. Zee Entertainment ended with an impressive gain of 6.9% at Rs 327.70. Idea Cellular, GAIL India, SAIL, GlaxoSmithKline Pharma, Sun Pharmaceuticals, Cairn India and Tata Power moved up by 3% - 4.5%.
Dr. Reddy's Laboratories, Unitech, Hero Honda, Reliance Petroleum and HCL Technologies also closed on a positive note. Suzlon Energy shed 1.65% while VSNL closed with a loss of 0.4%.
HDIL, Jindal Saw, Gillette, Spice Telecom, Lanco Infratech, Nicholas Piramal, Ballarpur Industries, Tata Tea, Punjab Lloyd, Andhra Bank, Finolex Cables, Indian Oil Corporation, Bank of Baroda, Finolex Industries, Puravankara Projects, Maharashtra Seamless, Omaxe and Jindal Steel were among the prominent gainers from BSE 'A' Group.
Indian Bank, HTMT Global, Ramco Systems, FDC, i-Flex Solutions, Nestle, Indo Rama Synthetics, TN Newsprint & Papers, Rolta India, Indian Overseas Bank, Thermax, Alfa Laval, IndusInd Bank, Tata Elxsi and Geometric Software ended with sharp losses. Ansal
Infrastructure, Berger Paints, Gujarat Petronet, KS oils, Jindal Saw, NDTV, Phoenix Mills, Entertainment Network of India, Adlabs Films, Praj Industries, Triveni Engineering, Bilcare, SRF, Sintex Industries and Kirloskar Oil Engines were among the big gainers from the midcap index.
Among smallcaps, Supreme Petro, MCD Holdings, Everonn Systems, Techno Electrical Engineering, IFGL Refractories and Aarti Industries hit the roof. Nahar Spinnng ended nearly 20%. Balmer Lawrie, Steel Strips, Shrenuj Diamonds, Liberty Shoes, Vardhman Textiles, Maxwell, Taneja Aerospace, Paramount Communications and Geojit Financial Services also ended with strong gains.
Edelweiss Capital made a strong debut today. The stock opened at Rs 1443.75, a hefty premium to its issue price of Rs 825, and touched a high of 1608.75 in intra-day trades before signing of at Rs 1510.25. Around 6.69 million shares, valued at nearly Rs 1020 crore, changed hands at the Edelweiss counter on NSE today.
Though the premier indices remained sluggish for a better part, the market breadth was positive right through the session. When trade ended, out of a total of 2924 stocks seen in action on BSE, 2139 stocks were in the positive territory. 750 stocks posted losses and 35 stocks ended at their previous closing levels.
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