Wednesday 28 September 2011

Sensex flat with negative bias; IT stocks rally


Indian equities are trading on a flat note with negative bias amid volatility. IT, Teck and FMCG indices gained, while auto and metal indices dipped. A falling rupee contributed to the upside in IT & Teck indices over the past few days.
At 10.56 a.m., the Sensex was trading down 5.49 points or 0.03% at 16,518.54 with 21 components falling. Meanwhile, the Nifty was trading lower by 11.10 points or 0.22% at 4,960.15 with 36 components falling.
The 30-share benchmark index, BSE Sensex opened with a gain of 139.23 points or 0.84% at 16,663.26, while the broad based NSE Nifty started with a rise of 34.25 points or 0.69%, at 5,005.50.
Sensex Movers
I C I C I Bank contributed fall of 15.49 points in the Sensex. It was followed by Larsen & Toubro (15 points), Mahindra & Mahindra (7.08 points), Bharti Airtel (6.4 points) and Sterlite Industries (India) (6.35 points).
However, Infosys contributed rise of 32.81 points in the Sensex. It was followed by Tata Consultancy Services (9.72 points), Reliance Industries (8.55 points), I T C (7.71 points) and Oil & Natural Gas Corporation (3.6 points).
Biggest gainers in the 30-share index were Infosys Technologies (2.31%), Tata Consultancy Services (1.34%), Wipro (1.29%), Oil & Natural Gas Corporation (0.66%), I T C (0.60%), and Tata Motors (0.51%).
On the other hand, Sterlite Industries (India) (2.75%), Jaiprakash Associates (2.60%), Hero Honda Motors (1.99%), Hindalco Industries (1.90%), Bajaj Auto (1.62%), and Larsen & Toubro (1.51%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.23% and 0.12% respectively.

The major gainers in the BSE Midcap were Amara Raja Batteries (1.47%), A B G Shipyard (1.19%), A I A Engineering (0.72%), CORE Education and Technologies (0.66%) and Alfa-Laval (India) (0.5%).

The major gainers in the BSE Smallcap were Aanjaneya Lifecare (2.86%), Action Construction Equipment (1.1%), INEOS ABS (India) (0.83%), Ahluwalia Contracts (India) (0.6%) and Advanta India (0.47%).
Sectors in Limelight
The IT index was at 5,295.52, up by 111.05 points or by 2.14%. The major gainers were H C L Technologies (3.79%), Infosys (2.31%), Mphasis (1.39%), CORE Education and Technologies (0.66%) and Tech Mahindra (0.57%).
The TECk index was at 3,278.05, up by 45.12 points or by 1.40%. The major gainers were Mphasis (1.39%), Dish TV India (0.9%), G T L Infrastructure (0.83%), D B Corp (0.49%) and G T L (0.41%).
The Metal index was at 11,354.22, down by 115.44 points or by 1.01%. The major losers were Hindalco Industries (1.9%), Bhushan Steel (1.39%), Coal India (0.89%), Jindal Steel & Power (0.74%) and Hindustan Zinc (0.08%).
The Capital Goods index was at 11,104.84, down by 99.16 points or by 0.89%. The major losers were BGR Energy Systems (2.16%), A B B (1.09%), BEML (0.87%), Bharat Heavy Electricals (0.22%) and Alstom Projects India (0.05%).
Market Breadth
Market breadth was positive with 1,222 advances against 1,025 declines.
Value and Volume Toppers
PG Electroplast topped the value chart on the BSE with a turnover of Rs. 1,368.41 million. It was followed by Infosys (Rs. 675.27 million), H D F C Bank (Rs. 572.44 million) and State Bank Of India (Rs. 293.92 million).
The volume chart was led by Cals Refineries with trades of over 8.84 million shares. It was followed by PG Electroplast (2.73 million), South Indian Bank , The (2.00 million) and Gujarat N R E Coke (1.58 million).

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