Led by buying in Satyam Computers and ITC, the Sensex recovered smartly in afternoon and ended firm at 16,542.
The market wiped out losses of over 87 points incurred in the first half after a strong bout of buying led by Satyam Computers, ITC and HDFC
triggered wide-spread buying thereafter. In a highly volatile backed trading session, the Sensex resumed 11 points lower at 16,329 following weakness in Asian indices and crashed to the day's low of 16,253 on relentless selling. While the market was on a recovery path thereafter, the Sensex witnessed a sharp turnaround in afternoon as gains in heavyweights, IT, FMCG and technology stocks propelled it to an intra-day high of 16,596. After gyrating 343 points during intra-day trades, the Sensex gained 202 points to close at 16,542, while the Nifty ended 57 points higher at 4,921.
Movers & Shakers
L&T inched lower even as the company secured transmission line orders worth Rs458 crore
Nagarjuna Construction ended weak inspite of getting three new orders
TCS gained ground on reports that the company has launched innovative service model to meet the needs of small and medium business
However, the market breadth was negative. Of the 2,750 stocks traded on the Bombay Stock Exchange (BSE) 1,942 stocks declined, 760 stocks advanced and 48 stocks ended unchanged. The BSE IT index led the pack and gained 3.82% at 3,752 followed by the BSE FMCG index (up 2.89% at 2,232) and the BSE Teck index (up 2.09% at 3,111).
Satyam Computer was the star performer amongst the heavyweights and the stock soared 6.70% at Rs433.80. Among the other major gainers, ITC advanced 5.09% at Rs194.25, HDFC jumped 4.50% at Rs2,755, Hindalco rose 4.10% at Rs208, Infosys moved up by 3.87% at Rs1,474.85, Maruti Suzuki advanced 3.80% at Rs940, Wipro gained 3.25% at Rs430.75 and ONGC added 3.05% at Rs987.90. However, Bajaj Auto, Reliance Energy and Bharti Airtel inched lower.
IT stocks were in demand and scaled higher. FT Chiles Offshore soared 5.91% at Rs1,926, HCL flared up 3.77% at Rs278, TCS added 2.48% at Rs874.70, Aptech gained 1.54% at Rs216.95 and Moser Baer was up 1.53% at Rs156. In the FMCG pack, Nestle zoomed 6.89% at Rs1,530, Rai Agro shot up by 4.74% at Rs1,460, United Spirits rose 3.69% at Rs1,659 and Dabur India gained 2.17% at Rs101.
Over 1.52 crore RNRL shares changed hands on the BSE followed by Ispat Industries (1.02 crore shares), RPL (0.87 crore shares), Essar Oil (0.64 crore shares) and Tata Teleservices (0.61 crore shares).
European Indices at 16:54 IST on 05-03-2008
Index
Level
Change (pts)
Change (%)
FTSE 100 Index
5797.20
29.50
0.51
CAC 40 Index
4729.44
53.53
1.14
DAX Index
6625.48
80.44
1.23
Asian Indices at close on 05-03-2008
Index
Level
Change (pts)
Change (%)
Nikkei 225
12972.06
-20.22
-0.16
Hang Seng Index
23144.34
-5.53
-0.02
Kospi Index
1677.10
0.92
0.05
Straits Times Index
2910.77
-8.91
-0.31
Jakarta Composite Index
2639.65
4.90
0.19
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