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Market Commentary
Indian Stock Market Indices NIFTY and Sensex closes lower on profit booking
Posted On : 2006-02-14 12:18:06( TIMEZONE : IST )
The Indian stock markets witnessed profit booking on Tuesday´s trading with both NSE S&P CNX NIFTY and BSE Sensex closing lower. NSE S&P CNX NIFTY opened at 3040.25 and hit a high of 3057.7. Profit booking pushed NIFTY down hitting an intraday low of 3009.9 before recovering to close at 3017.55, down by 23.6 points.
BSE Sensex opened the day at 10180.51 hitting an intraday high of 10185.06 before closing at 10086.63, down by 86.62 points. Out of 30 Stocks in Sensex 25 closed lower and 5 closed higher. Out of 50 stocks in NIFTY 14 stocks closed higher and 36 stocks closed lower.
Hindustan Lever Ltd was the major gainer in both NIFTY and Sensex with the stock zooming ahead by more than 7% on excellent quarterly results. HLL closed at Rs.224.45, up by 7.16%. HLL reported net profit of Rs.520.86 Crores on a sales of Rs.3038.53 Crores. HLL declared a final dividend of 250%.
Bajaj Auto Ltd was the second major gainer in BSE with the stock closing at Rs.2301.55, up by 3.64%. The stock hit a new 52 week high of Rs.2355 during the day.
Bharti Tele was the other major gainer with the stock closing at Rs.367.2, up by 1.02%. Other gainers in Sensex include ITC Ltd (Rs.163.65, up by 0.71%) and HDFC Bank Ltd (Rs.747.3, up by 0.23%).
Cipla was the major loser in Sensex with the stock closing down 4.45% at Rs.540. Major losers include L&T (Rs.2400.50, down by 3.95%), Tata Power (Rs.493.55, down by 3.26%), Tata Motors (Rs.766.6, down by 3.13%), Satyam Computers (Rs.736.95, down by 2.73%), WIPRO Ltd (Rs.492.75, down by 2.45%), Hindalco Industries (Rs.158.55, down by 2.31%), Tata Steel (Rs.383.4, down by 2.18%), ICICI Bank Ltd (Rs.596.4, down by 2.08%), TCS Ltd (Rs.1618.85, down by 1.9%), Dr Reddys Laboratories (Rs.1167.8, down by 1.87%), SBI (Rs.868.65, down by 1.7%).
The major gainers in NIFTY include Bajaj Auto, M&M, Bharti Tele, GAIL and Tata Tea. NALCO was the major loser in NIFTY with the stock closing at Rs.274, down by 5.86%. CIPLA closed at Rs.539.55, down by 4.55%. L&T (Rs.2400.95, down by 3.91%), Tata Power (Rs.494.4, down by 3.37%), Tata Motors (Rs.766.7, down by 3.13%), WIPRO (Rs.491.2, down by 2.85%), Satyam Computers (Rs.736.9, down by 2.75%), Dr Reddys Laboratories (Rs.1166.55, down by 2.44%), Hindalco (Rs.158.55, down by 2.37%), Tata Steel (Rs.383.5, down by 2.21%), ICICI Bank (Rs.596.5, down by 2.13%), HCL Technologies (Rs.611.55, down by 2.04%).
TCS, Jet Airways, Gujarat Ambuja Cement, SBI, ACC, Grasim Industries, Glaxo, Ranbaxy Laboratories, Oriental Bank of Commerce closed lower by more than 1%.
In the broader market, Titanor Components was the major gainer with the stock closing at Rs.269.35 closing higher by 20%. We had mentioned this stock in our Whispers column on February 9, 2006. Rane Brake Lining (Rs.249.95, up by 17.85%), Winsom Yarn (Rs.24, up by 14.01%) - This stock has gained more than 50% in the past 3 trading days, Aptech Training (Rs.134.35, up by 9.67%), MSK Projects (Rs.103.3, up by 8.28%).
