Wednesday, 26 September, 2007

The Day That was.....

Indian shares ended higher on Wednesday at a record close on Wednesday, but off their highs as profit-booking pared gains. Software, banking and refinery stocks rallied, while real estate and oil & gas stocks witnessed selling pressure. The Sensex ended up 21.85 points, or 0.13%, at 16,921.39, an all-time closing high. It had opened higher at 16,969.45. It advanced to hit an all-time high of 17,073.87 and a low of 16,887.07.

The Nifty was up 1.65 points, or 0.03%, at 4,940.50, an all time closing high. It struck an all time high of 4980.85. SBI rose 0.60% to Rs 1,850. HDFC surged 3.51% to Rs 2,478.50. Satyam Computers soared 5.05% to Rs 432.30. Wipro surged 4.76% to Rs 456.50 on reports that it has bagged a five-year, $130 million contract from British utility Thames Water. Tata Steel rose 1.19% to Rs 752.55. Reliance Industries slipped sharply from the day’s high of Rs 2,425.90 and settled 3.08% to Rs 2,325.75.

Indiabulls Real Estate gained 7.07% to Rs 613.71 on its plans to raise Rs 2,322 crore through issue of convertible warrants to promoters and directors at Rs 540 each. GMR Infra was down 4.18% to Rs 826.90 and IFCI dipped 3.64% to Rs 98 after the NSE barred further F&O positions in 95% of marketwide limit was reached on Tuesday.

GAIL (India) surged 3.16% to Rs 375 on reports that the company is considering bonus and or stock split of equity shares before its next annual general meeting. BAG Films & Media vaulted 5% at Rs 68.40 after its board approved issuing 1.03 crore shares to a unit of Fidelity at an undisclosed price.