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Market Commentary
NIFTY closes above 3000, markets zoom
Posted On : 2006-01-31 11:56:00( TIMEZONE : IST )
The NSE S&P CNX NIFTY closed above the magical 3000 mark for the first time in its history. NIFTY closed at 3001.1, up by 26.6 points. NIFTY hit an intraday high of 3005.1 and low of 2968.85 before closing at 3001.1. BSE Sensex closed at a new high of 9919.89, up by 70.86 points. Sensex hit an intraday high of 9939.55 and low of 9873.37.
Out of 30 stocks in Sensex 22 closed higher and 8 closed down. BHEL was the top gainer in Sensex with the stock gaining 5.67% to close at Rs.1797.5. The stock hit an intraday high of Rs.1815 and low of Rs.1717.
The other notable gainers in Sensex were Tata Motors and Larsen & Toubro both gaining 3.16% and 3.15% respectively. Tata Motors closed at Rs.709.3 and L&T closed at Rs.2166.75.
Hindalco Industries closed at Rs.164.8, up by 2.71% and HDFC Bank closed at Rs.762.55 gaining 2.4%. Tata Steel closed above the 400 mark at Rs.404.25 gaining 2.13%. Tata Steel hit an intraday high of Rs.407.25 and low of Rs.395.
HDFC, WIPRO, NTPC, Maruti Udyog, Tata Power and Hindustan Lever closed with more than 1% gains.
Out of 50 stocks in NIFTY 37 were gainers and 13 were losers. NALCO was the top gainer in NIFTY with the stock closing up by 7.66% at Rs.276.2. NALCO hit an intraday high of Rs.276.9 and low of Rs.253.2.
BHEL was the second top gainer in NIFTY with the stock closing at Rs.1795.6, up by 5.63%. Zee Telefilms, M&M, VSNL, L&T gained 3.98%, 3.83%, 3.68% and 3.15% respectively.
Tata Motors closed at Rs.708.45 gaining 2.95%. Other stocks gaining more than 2% were Hindalco, HDFC Bank, Sun Pharma and Gail. Punjab National Bank, Tata Steel, Dabur India, ABB, HCL Technologies, HDFC, Hindustan Lever, Maruti, WIPRO and Tata Power gained more than 1% each.
Gujarat Ambuja Cement was the major loser in NIFTY with the stock closing down by 2.15% at Rs.88.55. SAIL, BPCL and Tata Tea were the other notable losers all losing more than 1%
Among the recently listed companies Celebrity Fashions was in limelight with the stock closing the day gaining 16.27% at Rs.231.95. Celebrity Fashions is the owner of famous brand Indian Terrain.
Suzlon Energy regained its losses after a new order win from USA. Suzlon closed the day at Rs.1167.35, up by 8.47%. Suzlon hit an intraday high of Rs.1192 and low of Rs.1076.3.
