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Rediff.com  » Business » Profit-taking sets in; Sensex ends with 'Nano' gains

Profit-taking sets in; Sensex ends with 'Nano' gains

By BS Reporter in Mumbai
March 24, 2009 16:22 IST
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Aggressive profit-taking in metal and realty stocks saw the index slip nearly 300 points from the day's high.

The Sensex opened 126 points higher at 9,550 on the back of follow-up buying coupled with positive global cues. The index rallied to a high of 9,699 on the back of strong gains in banking and realty stocks.

However, profit-taking at higher levels forced the index pare gains in the latter half of the day. Metal and realty stocks bore the brunt of the selling pressure.

The index slipped into red to 9,403 - down 296 points from the day's high - towards the close. The Sensex finally ended with a marginal gain of 47 points at 9,471.

The NSE Nifty ended at 2,939, down 7 points.

The market breadth was marginally negative - out of 2,636 stocks traded, 1,395 declined, 1,134 advanced and 107 were unchanged on Tuesday.

INDEX MOVERS. . .

HDFC Bank zoomed over 6% to Rs 941. ICICI Bank and HDFC Bank surged around 2.5% each to Rs 355 and Rs 1,564, respectively. SBI added 1% to Rs 1,035.

BHEL rallied over 2% to Rs 1,444. Ranbaxy and Bharti Airtel moved up nearly 2% each to Rs 164 and Rs 603, respectively.

Wipro and Mahindra & Mahindra were up over 1% each at Rs 242 and Rs 374, respectively.

. . .AND THE SHAKERS

Jaiprakash Associated slumped nearly 7% to Rs 79.

Hindalco and Reliance Infrastructure plunged around 4.5% each to Rs 50 and Rs 508, respectively.

Reliance Communications tumbled 4% to Rs 161. Tata Steel shed 3.6% at Rs 187.

Sun Pharma dropped nearly 3% to Rs 1,051. Tata Motors, a day after the Nano lauch, slipped 2.4% to Rs 162.

ONGC and Grasim declined 2% each to Rs 779 and Rs 1,494, respectively.

ACC and Sterlite were down around 1.5% each at Rs 326 and Rs 549, respectively.

OTHER PROMINENT GAINS...

Simens surged over 6% to Rs 238. Tata Chemicals, Suzlon, HPCL, United Phosphorous, Rei Agro, Yes Bank, Jai Corp, Zee Entertainment, Unitech and MTNL gained 4-5% each.

. . .AND OTHER LOSERS

Cromption Greaves slumped nearly 10% to Rs 122. Religare, Hindustan Copper, Madras Cement, Reliance Capital, Piramal Healthcare, NMDC, India Infoline, SAIL, Idea Cellular and Godrej Industires shed 5-8% each.

MOST ACTIVE COUNTERS

Akruti City topped the value chart with a turnover of Rs 296.40 crore followed by Reliance (Rs 287.65 crore), Reliance Capital (Rs 248.75 crore), ICICI Bank (Rs 195.70 crore) and SBI (Rs 154.60 crore).

Unitech led the volume chart with trades of around 2.12 crore shares followed by Suzlon (1.57 crore), Reliance Natural Resources (1.52 crore), Cals Refineries (82.93 lakh) and Satyam (68.90 lakh).

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BS Reporter in Mumbai
Source: source
 

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