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Wednesday, December 06, 2006

How Market Fared


RIL, Infy keep Sensex afloat

The markets maintained its upward trend for fifth trading session as bulls’ anchored benchmark Sensex to close at a new peak of 13937.65. Bulls again had an upper hand over the bears as global cues played a major role. Blue chips like Reliance Industries, L&T, Tisco, Infosys and Bharti Airtel led from the front aiding NSE Nifty to close above the 4000 mark. Metal stocks were the star performers followed by Technology and Oil & gas stocks. However Banking stocks were on the receiving end, losing 0.87%. Finally, the BSE benchmark Sensex closed at lifetime high of 13937, adding 63 points. NSE Nifty also closed at an all time high of 4015, adding 14 points.

Tisco surged 5.2% to Rs493; the scrip was the top gainer among the 50-scrips of NSE Nifty as the company entered into a JV agreement with Nippon Yasen Kabushiki Kaisha for setting up a shipping company to cater to dry bulk and break bulk cargo. The scrip touched an intra-day high of Rs495 and a low of Rs471 and recorded volumes of over 39,00,000 shares on NSE.

Action Construction spurred 2% to Rs393 after the company announced that they would set up subsidiary in Cyprus. The scrip touched an intra-day high of Rs407 and a low of Rs389 and recorded volumes of over 27,00,000 shares on NSE.

Subex Azure climbed 3.7% to Rs640 after the company announced that they would consider 'sponsored sale' of overseas shares. The scrip touched an intra-day high of Rs650 and a low of Rs617 and recorded volumes of over 60,000 shares on NSE.

Metal stocks were in the limelight. Tisco surged 5.5% to Rs494, SAIL gained 1.9% to Rs87, Hindalco was up 1.7% to Rs176 and JSW Steel added 1.4% to Rs335.

Capital Good stocks extended their gains. Index heavy weight, L&T further gained 1.5% to Rs1444, Punj Lloyd edged higher 0.2% to Rs1089 and Gammon risen 2.5% to Rs482.

Technology stocks were back in action after falling on back of profit booking in the previous trading sessions. Mid-Cap stocks led the way Polaris, i-Flex and Mastek were among the major gainers. While among the heavy weights Infosys advanced 1.5% to Rs2239, Wipro edged higher 0.4% to Rs563 and Satyam Computer added 0.8% to Rs451.

Auto stocks were in reverse gear as selling pressure dragged them down. Bajaj Auto slipped 1.2% to Rs2719, Four-wheeler major Maruti lost 1.2% to Rs949 and TVS Motors dropped over 1.4% to Rs97.

Profit booking also dragged the Pharma stocks down. Cadila slipped 1.8% to Rs327, Sun Pharma lost 1.7% to Rs1016 and Cipla declined 0.9% to Rs252.