Sensex loses 74 pts at close
There were as many as fifteen gainers from the Sensex as the session drew to a close today. But then, losses posted by a majority of the other half proved so sharp that the barometer, which had another choppy session, ended in the negative territory with a loss of 73.56 points or 0.37% at 20,030.83.
The start was fairly good with the barometer spurting to 20,171.57 after opening at 20,108.09. However, due to weak global markets and lack of triggers, a good majority of large cap stocks struggled for support almost right through the session. Though the Sensex managed a couple of rallies from lower levels, a strong bout of selling during the final minutes pushed the barometer down to 19,936.49.
The National Stock Exchange's 50-stock Nifty index, which touched a high of 6078.55 in early trade, closed at 6047.50, well off its intra-day low of 6015.05, netting a loss of 0.17% or 10.40 points.
Bharti Airtel (down 3.55%), ICICI Bank (down 2.85%), HDFC (down 2.6%), Satyam Computer Services (down 2.35%), HDFC Bank (down 1.65%), Larsen & Toubro (down 1.4%), Tata Steel (down 1.3%), BHEL (down 1.15%) and Wipro (down 1%) ended with sharp losses.
Infosys Technologies closed lower by 0.7% at Rs 1646.80. Mahindra & Mahindra slipped by 0.4% to Rs 790.70. Reliance Communications, DLF and Reliance Energy ended with marginal losses.
BPCL, Zee Entertainment, SAIL, VSNL, Punjab National Bank, Siemens and GAIL India were among the major losers from the Nifty index.
But for a smart rally in Reliance Industries (up nearly 2%), the Sensex would well have ended with a far sharper loss today. ACC (3.6%), Ranbaxy Laboratories (2.7%), Cipla (2.65%), Hindustan Unilever (2.35%), ITC (1.9%), Hindalco (1.85%), Ambuja Cements (1.6%) and Tata Consultancy Services (1.45%) also ended on a firm note.
ONGC, State Bank of India, Grasim Industries, Maruti Suzki and Bajaj Auto gained 0.3% - 1% over their previous closing levels. NTPC, which moved in a tight band, edged up marginally to Rs 246.60.
Nifty stock GlaxoSmithKline Pharma rallied 5.2% to Rs 1092.95. Cairn India moved up by 3.2%. Dr. Reddy's Laboratories, Nalco and Sun Pharmaceuticals also closed with smart gains.
Gillette shot up by 20% to Rs 1323.20. Punjab Tractors, Finolex Industries, TVS Motor and India Cements jumped by 10% - 12%. Lupin, Arvind Mills, Gujarat Narmada, HDIL, Jet Airways, Wockhardt, Procter & Gamble, TN Newsprint & Papers, Cadila Healthcare, Rashtriya Chemicals, National Fertilizers, GlaxoSmithKline Consumer Healthcare, EIH, Indo Rama Synthetics and Gujarat Industries & Power gained 4% - 7%.
Midcap stocks Fortis Healthcare, DCM Shriram, Jubilant Organosys, Time Techno, Bajaj Hindustan, Praj Industries, Panacea Biotech, Sun Pharma Advanced Research, SpiceJet, Prism Cements, JK Cements, Shriram Transport, Motherson Sumi, Hotel Leelaventure and Gujarat Alkalies ended with hefty gains.
A number of stocks from the smallcap also surged higher on sustained buying support today. Mirroring investor interest for midcap and smallcap stocks, the BSE Midcap and Smallcap indices ended stronger by 1.02% and 1.57% respectively.
Kaushalya Infrastructure, which made its debut today, ended at Rs 81.30, a premium of 35.5% to its issue price of Rs 60. Over 38.4 million shares were traded at the Kaushalya Infrastructure counter on NSE today. Kolte Patil, which made a strong debut yesterday, extended its gain. The stock ended up by a little over 20% at Rs 217.65 today.
The market breadth remained strong once again. Out of 2940 stocks traded on BSE, 2082 stocks moved up. 830 stocks closed in the negative territory and 28 stocks finished at their previous closing levels.
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