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Tuesday, November 04, 2008

Market banks on realty and banking stocks


After gyrating almost 552 points for the day the Sensex closed the session with a gain of 293 points. The market had a gloomy start, with the mixed global indices dampening the trading sentiment and triggering an all-round selling. The Sensex touched the day's low of 10,116, down 222 points. The Sensex to recover the lost ground and the index entered into the positive territory by afternoon. Realty and Banking stocks provided the requisite support to the Sensex to touch the intra-day high of 10,668. The Sensex finally settled at 10,631, up 293 points and Nifty closed the session at 3,142, up 98 points.

The market breadth was positive, Of the 2,654 stocks traded on the BSE 1,806 stocks advanced, whereas 782 stocks declined. Sixty six stocks ended unchanged. Among the sectoral indices the BSE Realty flared up by 12.14%, BSE Bankex rose 6.56% and BSE Power moved up by 5.66%.

Barring a few, all the Sensex stocks ended at higher levels. DLF flared up 14.66% at Rs290.15, Ranbaxy Laboratories jumped up 9.88% at Rs209.15, JP Associates bounced back sharply and shot up by 9.82% at Rs89.45, Reliance Communications zoomed 7.67% at Rs250.50, ITC moved up by 7.63% at Rs170.70, ONGC scaled up 7.12% at Rs761.30, ICICI Bank surged by 6.53% at Rs459.10, State Bank of India jumped by 6.50% at Rs1,321.15 and Tata Steel gained 6.48% at Rs239.85.

Over 3.91 crore shares of Suzlon Energy changed hands on the BSE followed by Cals Refineries (2.24 crore shares), Unitech (1.70 crore shares), Reliance Natural Resources (1.70 crore shares), GVK Power & Infrastructure (1.63 crore shares) and IFCI (1.65 crore shares).

Valuewise, Reliance Industries clocked a turnover of Rs279 crore followed by Suzlon Energy (Rs205 crore), State Bank of India (Rs186 crore), Reliance Capital (Rs184 crore) and ICICI Bank (Rs151 crore).