Mkts signs off Year 2007 on a firm note;
Sensex ends 80 pts up
The final trading session of Year 2007 got off on a firm note this morning. Though the undertone remained quite positive right through, stock prices moved in a tight range for a better part of the session today as global cues were mixed.
However, participants chose to take positions in select blue chip stocks today on expectations of strong quarterly numbers. Though some prominent large caps found the going tough, several mid and smallcap stocks had a highly profitable outing.
A few blue chip stocks, including heavyweights Infosys Technologies, HDFC, Wipro, State Bank of India, Reliance Industries and HDFC Bank were seen struggling for support during the closing minutes of trade today, but then, thanks to strong and sustainded buying in Bharti Airtel, NTPC, ITC, Reliance Communications, ONGC and a few other front line stocks, the Sensex managed to sign off the final session of Year 2007 on a positive note today.
From 13,786.91, its closing mark on December 29, 2006, the Sensex has risen to 20,286.99 this year, recording a massive surge of 6500 points or 47.15%. The Nifty has moved up to 6138.60 from 3966.40, netting a whopping gain of 2172.60 points or 54.78%.
While the Sensex, which opened at 20,323.28 and raced to a high of 20,484.28 in early trade, ended the session at 20,286.99 with a gain of 80.04 points or 0.4%, the Nifty, which touched a high of 6467.75 this morning, settled at 6138.60 with a gain of 0.97% or 58.90 points.
Telecom stock Bharti Airtel, which opened on an upbeat note, ended with a handsome gain of 5.75% at Rs 994.55. Reliance Communications, despite remaining relatively sedate, notched up a sharp gain of 1.9%.
NTPC (3.6%), Mahindra & Mahindra (3.2%), Ranbaxy Laboratories (2.5%), ITC (2.35%), ACC (1.6%) and Tata Motors (1.55%) also ended on a high note.
DLF ended nearly a per cent up. Hindalco, ONGC, Maruti Suzuki, Grasim Industries, Larsen & Toubro and ICICI Bank also ended with smart gains. Tata Steel and Tata Consultancy Services moved up by 0.4% and 0.35% respectively. Bajaj Auto and BHEL ended marginally higher than their previous closing levels.
HDFC, Ambuja Cements, Infosys Technologies and Cipla lost between 1% - 1.75%. Reliance Energy, which had a bright spell in the positive territory, failed to retain gains and ended with a sharp loss of 0.95%. Hindustan Unilever (down 0.95%), Wipro (down 0.9%), Reliance Industries (down 0.6%) and State Bank of India (down 0.55%) also finished on a weak note. HDFC Bank and Satyam Computer Services ended with small losses.
BPCL (up 10.45% to Rs 523.65) was the biggest gainer in the Nifty index. Tata Power and Idea Cellular moved up by 5.75% and 5.6% respectively. Zee Entertainment (4.2%), Cairn India (4%), GAIL India (2.55%), Dr. Reddy's Laboratories (2.45%) and VSNL (2.45%) also closed with handsome gains. Suzlon Energy, ABB, SAIL and Unitech gained 1% - 2%.
Nalco, Sterlite Industries, Punjab National Bank, Sun Pharmaceuticals and Hero Honda ended with sharp losses.
Essel Propack hit the 20% upper limit this afternoon and remained locked at that point till the end. Ramco Systems zoomed 14.75% to Rs 245.65. D-Link India, Century Enka, HMT, FDC, Mirc Electronics, Castrol India, Apollo Tyre, GTL, Indian Oil Corporation, Hindustan Petroleum Corporation, Canara Bank, Puravankara Projects, Edelweiss Capital, Escorts and Moser Baer also signed off on a high note.
Among midcap stocks, Himatsingka Seide shot up by 19.7%. BL Kashyap notched up a hefty gain of 16.1%. TV 18, IFCI (the stock topped the turnover chart today), GTL Infrastructure, Global Broadcast, Bilcare, Bata India, Monsanto, Ess Dee Aluminium, Castrol India, Sundaram Fasteners, India Infoline, Wire & Wireless, Patel Engineering, United Breweries, Godfrey Philips and Tube Investments were among the big gainers.
Smallcap stocks Parry Agro, GIC Housing, Vimta Labs, GATI, Suraj Diamond, Fairfield Atlas, Zodiac Clothing, Bajaj Electricals, Zenith Infotech, Suraj Stainless, Nitin Fire Protection Equipments, Heritage Foods, Navneet Publications, Omnitech, Natco Pharma, Bhagya International, Datamatics Technologies and Greenply Industries flared up.
eClerx Services made an impressive debut today. The stock, which opened at Rs 370, hit a high of Rs 467.50 in intra-day trades before settling down to close at Rs 448.40, up 42.35% over its IPO price of Rs 315. Around 9.32 million shares were transacted at the eClerx Services counter on the National Stock Exchange today.
The market breadth was very strong right through the day. Out of 2930 stocks traded on BSE, as many as 2551 stocks posted gains. 363 stocks ended in the negative territory and 16 stocks finished at their previous closing levels.
However, it turned out to be weak first outing for Brigade Enterprises. After opening at Rs 430, well past the issue price of Rs 390, the stock rose to Rs 489.90, only to decline sharply and touch a low of Rs 355.15. Though it found support at lower levels and edged up to close at Rs 379.90, the stock still recorded a sharp loss of 2.55% today.
Sensex ends 2007 with gain of 47%
Year 2007 ends on optimistic note, Sensex
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