Sensex ends 36 pts up in volatile trade

Sensex ends 36 pts up in volatile trade
Thanks to a sharp rally in global markets, equities opened on a rousing note on the major Indian bourses this morning. However, after staying high up in the positive territory for about half an hour, the market reversed trend and plunged into the red in mid morning trade.
Stockometer
Though there were a few sharp rallies thereafter, the market struggled to hold gains and kept faltering due to strong resistance encountered by a few front line stocks. On expectations that Bank of Japan and the US Federal Reserve will reduce interest rates, US, Asian and European markets remained fairly strong today. Back home, short-covering due to expiry of October series derivatives contracts resulted in the sharp jump of some blue chip stocks.
Top gainers
Remaining volatile right through the session, the Sensex ended the day with a gain of 36.43 points or 0.4% at 9044.51, way down from a high of 9297.76 it had posted in early trade. The barometer touched a low of 8894.34 in morning trade.
Worst losers
The Nifty index of the National Stock Exchange closed with a gain of 0.46% or 12.45 points at 2697.05. In intra-day trades today, the Nifty hit a high of 2781.25 and a low of 2631.90.
Scrip Scan
Metal stocks posted impressive gains on sustained buying support. Mirroring the impressive surge of these stocks, the BSE Metal index moved up by as much as 6.52% today. Oil, auto and consumer durables stocks also had a good outing.
Experts' Talk
Realty, pharma, FMCG and capital goods stocks declined. Bank, power, IT and PSU stocks displayed a mixed trend. After a positive start, midcap and smallcap stocks slipped and suffered sharp losses.
Hindalco, Tata Motors, ACC, Sterlite Industries, Mahindra & Mahindra, Reliance Industries, Tata Power, Wipro, ICICI Bank, Infosys Technologies, Tata Steel, BHEL and ONGC closed with strong gains. Bharti Airtel (1.85%) also ended on a firm note. NTPC, ITC and Maruti Suzuki posted modest gains.
Reliance Communications went down by as much as 10.85% today. Satyam Computer Services, Suzlon Energy, Siemens, DLF, Idea Cellular, Sun Pharmaceuticals, Ranbaxy Laboratories, Cipla and Reliance Petroleum closed with heavy losses.
Cairn India, Tata Communications, Ambuja Cements, SAIL, BPCL, Power Grid Corporation, HCL Technologies, Zee Entertainment, RPower, Unitech and Hero Honda recorded sharp losses today.
Biocon, Wockhardt Pharma, GMR Infrastructure, TTML, Indian Overseas Bank, Apollo Tyres, Axis Bank, Raymond, Chennai Petroleum Corporation, Nirma, Cummins, Bharat Electronics, IDBI, LIC Housing Finance, IDFC, Mundra Port, RNRL and IFCI went down sharply today.
Jindal Steel flared up by 16.15%. Bharat Forge surged 11.75% to Rs 110. Oracle Financial Services, Moser Baer, Canara Bank, Asian Paints, Power Finance Corporation, Kotak Bank, Asian Paints, Bank of India, Reliance Capital, McDowell, Lupin and Ashok Leyland closed with sharp losses today.
The market breadth was negative. Out of 2,498 stocks traded on the BSE, 1,319 stocks closed in the negative territory. 1,104 stocks posted gains and 75 stocks ended flat.
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GMR Inds Q2 net surges
High provisions hit RBI's Q2 net profit
Mahindra Q3 net profit down 35 per cent
JSL Q2 net loss at Rs 69 cr
Britannia Industries Q2 net up 9.8 pc at Rs 53.30 cr
EID Parry India Q2 consolidated net up 9-fold at Rs 761 cr


Cairn India's Q3 net profit at Rs 81.44 cr on YoY
Top Asia refiner Sinopec Q3 net profit slides 39 pc
Bharati Shipyard Q2 net up 29 pc at Rs 33 cr
Eicher Motors Q2 PAT at Rs 45.2 cr
Eicher Q2 net up 205 per cent

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Other income boosts Cairn India Q3 profit
M&M consolidated Q2 net down 5%
Telenor buys 61% stake in Unitech Wireless for Rs 6,120 cr

Results:
Bannari Amman Sugars reports net profit of Rs 30.07 crore in theSeptember 2008 quarter
JSL reports net loss of Rs 68.64 crore in the September 2008 quarter
Vesuvius India net profit rises 22.93% in the September 2008 quarter
Sical Logistics reports net loss of Rs 41.93 crore in the September 2008 quarter
Divi's Laboratories net profit rises 50.88% in the September 2008 quarter

V-Guard Industries net profit declines 83.40% in the September 2008 quarter
Cairn India reports net profit of Rs 81.44 crore in the September 2008 quarter
Everonn Systems India net profit rises 210.04% in the September 2008 quarter
Bharati Shipyard net profit rises 28.78% in the September 2008 quarter
Gulf Oil Corporation net profit declines 65.83% in the September 2008 quarter
Titagarh Wagons reports net profit of Rs 17.84 crore in the September 2008 quarter

S.Kumars Nationwide net profit declines 53.99% in the September 2008 quarter
Alok Industries net profit declines 1.91% in the September 2008 quarter
Gujarat Flourochemicals net profit rises 44.58% in the September 2008 quarter
Vakrangee Softwares net profit rises 50.55% in the September 2008 quarter
Gokul Refoils and Solvent reports net profit of Rs 11.37 crore in the September 2008 quarter

Bombay Dyeing & Manufacturing Company reports net loss of Rs 103.97 crore in the September 2008 quarter
Adhunik Metaliks net profit rises 15.69% in the September 2008 quarter
Tata Tea net profit rises 18.67% in the September 2008 quarter
National Fertilizer net profit rises 42.81% in the September 2008 quarter

Karur Vysya Bank net profit rises 43.38% in the September 2008 quarter
TVS Electronics net profit rises 100.00% in the September 2008 quarter
GMR Infrastructure net profit rises 170.88% in the September 2008 quarter

Source:Sify,ET,BS,BL,CM