Thursday, 20 September, 2007

Consolidation after new high!

Following the huge 654-pt rally yesterday, the Sensex opened marginally (19 points) higher at 16,342, but soon slipped into red to a low of 16,261. Fresh buying at lower levels helped the index erase losses and rebound into the positive zone.

The index touched a new intra-day peak at 16,416 - up 155 points from the day's low. The Sensex, thereafter, exhibited range bound movement before settling with a gain of 25 points at 16,348.

The BSE Realty index zoomed nearly 7% to 9044. While the IT index dropped over 2% to 4391, the FMCG index gained 1% at 2166.

The market breadth was negative - out of 2,855 stocks traded, 1,589 declined, 1,212 advanced and 54 were unchanged today.


Reliance Energy soared 4.4% to Rs 988, Mahindra & Mahindra zoomed 4% to Rs 770.

ITC surged 3.8% to Rs 194. Larsen & Toubro gained 3% at Rs 2,746.

Hindalco and Grasim moved up 1.6% each to Rs 162 and Rs 3,380, respectively. Tata Motors added 1.4% to Rs 732.


Wipro and Infosys plunged around 3% each to Rs 433 and Rs 1,800, respectively. TCS and Satyam dropped 2% each to Rs 1,001 and Rs 421, respectively.

Maruti slipped 1.7% to Rs 910. ACC, Hindustan Unilever and Ranbaxy declined 1.3% each to Rs 1,138, Rs 214 and Rs 408, respectively.

Dr.Reddy's and Ambuja Cements were down 1% each at Rs 639 and Rs 146, respectively.


DLF topped the value chart with a turnover of around Rs 372.70 crore followed by Wipro (Rs 230 crore), Magnum Ventures (Rs 161.40 crore), Indiabulls Realestate (Rs 137.50 crore) and Reliance Natural Resources (Rs 136.50 crore).

Magnum Ventures led the volume chart with trades of around 2.91 crore shares followed by Reliance Natural (2.48 crore), IKF Technologies (1.90 crore), Tata Teleservices (1.29 crore) and Ispat Industries (1.12 crore).