The market posted small gains after moving in and out of positive zone since mid-morning trade. It had opened on a firm note but immediately slipped in the red on selling pressure. The merchandise rebounded from lower level in mid-afternoon trade. Turnover on BSE remained high for the second day in a row.
Key Asian markets which opened before Indian markets settled with gains today. 20 September 2007. However. European markets which opened after Indian market were trading weak today. 20 September 2007.
The 30-shares BSE Sensex was up 25.20 points or 0.15% at 16,347.95 an all time closing high. It opened slightly higher at 16,341.55 and advanced further to hit an all-time high of 16,415.88. It also slipped to a low of 16,261.36
At the day's high of 16,341.55. Sensex had risen 93.13 points for the day. At the day's low of 16,261.36 the Sensex had lost 61.39 points for the day. Sensex oscillated 154.52 points in the day.
The S&P CNX Nifty was up 15.20 points or 0.32% at 4,747.55 an all time closing high. It struck an all-time high of 4759.55 earlier today. The Nifty September 2007 futures settled at 4,749.50 a premium of 1.95 points as compared to spot closing
The market breadth was contradict on BSE as small and mid-cap shares came under selling pressure. 1574 shares declined as compared to 1196 that advanced. 56 remained unchanged. This was in contrast to strong breadth in early change when 1230 shares had risen. 787 had declined and 49 were unchanged.
The BSE Mid-Cap index was up 0.23% to 7,132.71. It hit all-time high of 7,177.65 today. The BSE Small-Cap index also hit an all time high of 8,962.81. It settled 0.06% higher to 8,876.07.
Most of the sectoral indices on BSE posted gains. BSE Auto Index (up 0.84% at 5,136.85). BSE PSU list (up 0.52% to 7,682.63). BSE FMCG Index (up 1.16% at 2,165.71). BSE Metal Index (up 1.41% at 12,723.31). BSE Capital Goods Index (up 1.98% at 14,392.46). The BSE Consumer Durables list (up 0.43% to 4,764.10). BSE Realty list (up 6.85% to 9,044.40). BSE Oil and Gas list (up 1.07% at 9,019.56) outperformed the Sensex.
BSE Health compassionate list (down 0.81% at 3,674.19). BSE Bankex (drink 0.03% at 8,688.68). BSE IT list (drink 2.24% at 4,390.75) and BSE TecK list (drink 1.10% to 3,580.26) were underperformers
IT pivotals kept on declining as the day progressed on fresh selling as a center arouse evaluate cut by the US Federal Reserve on 18 September 2007 set the rupee on fire and it hit nine-year high above 40 per US dollar. Three out of top 4 losers in Sensex were IT pivotals.
India's third largest software services exporter Wipro lost 3.22% to Rs 433.70 on huge volumes of 53.45 lakh shares. Two block deals of 25.25 laklh shares each were struck in the counter on BSE at an add up price of Rs 432.50 per share by 13:17 IST. It was the top loser from Sensex pack.
Other IT pivotals Satyam Computers (drink 1.75% to Rs 422). Infosys Technologies (down 2.88% to Rs 1799.90) and TCS (down 2.17% to Rs 1000.30) also edged lower.
The rupee was trading at 39.69 against the dollar stronger than Wednesday (19 September 2007)'s closing of 40.20/40.21. The sight rupee had closed at 40.20 in May 1998. A firm rupee impacts the margins of IT companies as they derive over 50% of their revenues from exports.
Ranbaxy Laboratories (down 1.43% to Rs 407). Maruti Suzuki India (down 1.93% to Rs 908) and ACC (down 1.56% to Rs 1135) were the other losers from Sensex pack.
India's top private sector utility affiliate in terms of revenue Reliance Energy (REL) surged 4.76% to Rs 991.15 on 11.25 shares. The stock hit an all time high of Rs 998.60. It was the top gainer from Sensex pack. As per reports. REL is scouting for burn mines in Indonesia. Australia. Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers. It also plans to raise $12.0-$12.5 billion in debt over the next seven to eight years to grow generation capacity nearly 16 times to 15,000 mega watt
Mahindra & Mahindra (up 2.57% to Rs 760). Hindalco Industries (up 1.80% to Rs 162.30) and ITC (up 3.48% to Rs 193.35) were the other gainers from Sensex pack.
India's largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) advanced 1.02% to Rs 2195 on 5.96 lakh shares. It struck an all time high of Rs 2200 on BSE in late trade. The Mukesh Ambani-led RIL on Wednesday. 19 September 2007 became the first affiliate to bring home the bacon a market capitalisation of Rs 3,00,000 crore.
India's largest engineering & construction firm by revenue Larsen & Toubro climbed up 2.89% to Rs 2747 on reports that the affiliate is eyeing a stake in Feedback Ventures a leading integrated infrastructure services firm.
India's largest oil exploration affiliate in terms of merchandise capitalisation Oil and Natural Gas Corporation (ONGC) rose 0.39% to Rs 905. It slipped from its day's high of Rs 924.90. It has reportedly sought a center bring up in the determine.
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