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Market Commentary
Trading subdued, NIFTY and Sensex close higher
Posted On : 2006-02-15 22:08:24( TIMEZONE : IST )
NIFTY gains 4.65 points to close at 3022.2. Trading was zig-zag in NIFTY with the indices hitting a low of 2995.3 and high of 3048.8 during the day. NIFTY managed to close higher at the fag end of the session due to short covering.
BSE Sensex closed at 10113.18 gaining 26.55 points. Sensex hit an intraday high of 10191.97 and low of 10036.01 before recovering to close higher. Hindustan Lever was the top gainer in both the exchanges after the company reported excellent results on Tuesday.
Out of 50 stocks in NIFTY 26 were gainers and 24 were losers. Major gainers include Hindustan Lever (Rs.235.9, up by 5.1%), Bajaj Auto (Rs.2416.1, up by 4.98%), ITC (Rs.170.85, up by 4.46%) and NALCO (Rs.285.7, up by 4.27%).
Hindalco closed higher by 2.96% at Rs.163.25, Ranbaxy Laboratories continued its journey closing higher by 2.55% at Rs.447.7. Jet Airways and MTNL gained 2.25% and 2% respectively to close at Rs.945.2 and Rs.153.15.
Grasim Industries, BPCL and Tata Steel gained more than 1% during the day. Other gainers include HPCL, VSNL, Dabur India, WIPRO, SAIL, Tata Tea, Cipla, GAIL and Tata Motors.
M&M was the major loser in NIFTY with the stock closing down by 2.56% at Rs.591.95. HDFC closed lower at Rs.1338, down by 2.38% and Maruti closed lower by 2.29% at Rs.753.
Other major losers include Reliance Energy (Rs.603.7, down by 1.81%), Reliance Industries (Rs.701.8, down by 1.74%), Infosys Technologies (Rs.2776.15, down by 1.62%), Punjab National Bank (Rs.439.3, down by 1.42%), L&T (Rs.2368.1, down by 1.37%), Oriental Bank of Commerce (Rs.238.5, down by 1.22%), Hero Honda (Rs.893, down by 1.19%), ONGC (Rs.1158.75, down by 1.15%), Tata Power (Rs.489.2, down by 1.05%).
In BSE, Hindustan Lever was the top gainer with the stock closing higher by 5.01% at Rs.235.7. Bajaj Auto and NTPC gained 4.81% and 4.56% to close at Rs.2412.3 and Rs.123.95 respectively.
ITC closed at Rs.170.6, up by 4.25%. Other major gainers include, Hindalco (Rs.163.2, up by 2.93%), Ranbaxy Laboratories (Rs.446.65, up by 2.27%), Grasim Industries (Rs.1645.8, up by 1.31%), Tata Steel (Rs.387.6, up by 1.1%).
Maruti Udyog was the top loser in Sensex with the stock closing at Rs.752.2 (down by 2.36%), followed by HDFC (Rs.1339.45, down by 2.17%), Reliance Energy (Rs.602.8, down by 1.94%), Reliance Industries (Rs.700.95, down by 1.83%), Infosys Technologies (Rs.2771.95, down by 1.81%), L&T (Rs.2365.55, down by 1.46%), ONGC (Rs.1156.55, down by 1.18%).
The major gainers in broader market were, Heritage Foods (up by 20% at Rs.169.7), Adlabs (Rs.401.8, up by 15.69%), ETC Networks (Rs.47.55, up by 11.75%), Zuari Agro (Rs.167.2, up by 12.82%).
Entertainment Network India Ltd, the operator of Radio Mirchi FM stations across the country listed on bourses on Wednesday. The stock closed the day at Rs.264.7 against the issue of Rs.162. The stock listed at a high premium (63.4%) against the offer price. The high premium for ENIL propelled Adlabs of ADA group company which has bagged several licenses for setting up FM stations across the country.
