Capital good for bulls
The bulls once again closed flat in a choppy trading session. The markets ended flat for second straight day as volatility and profit booking has held the bulls from marching ahead. However, strong buying in capital good stocks and some fresh buying in Banking and Auto index saved the markets from sliding into deep red. Select heavy weights like ABB, Reliance, ICICI Bank, BHEL, Satyam Computer and FMCG major HLL recorded smart gains. While Hero Honda, GAIL and HDFC were the major losers among the 50-scrips of NSE Nifty. Finally, the BSE benchmark Sensex closed flat at 13972, adding 23 points. NSE Nifty closed flat at 4015.
GMR Infrastructure advanced 1.4% to Rs393 after the company unveiled the master plan for re-development of Delhi airport. The scrip touched an intra-day high of Rs398 and a low of Rs383 and recorded volumes of over 15,00,000 shares on NSE.
Glenmark edged lower 0.7% to Rs570. The company signed supply accord with Leigh Valley Technologies. The scrip touched an intra-day high of Rs594 and a low of Rs562 and recorded volumes of over 7,00,000 shares on NSE.
Ballarpur Industries surged over 1.5% to Rs114 as according to reports the company will probably increase prices in January. The companies may increase prices by about 1,000 rupees a ton, taking the average price of paper products to about 44,000 rupees a ton. The scrip touched an intra-day high of Rs116 and a low of Rs112 and recorded volumes of over 1,00,000 shares on BSE.
Capital Good stocks were on hopes of in the limelight as Indo-US nuclear deal likely to be signed this weekend. ABB, Punj Lloyd, Siemens, BHEL and L&T were among the major gainers.
FMCG stocks continued their downward trend. Britannia slipped 2.7% to Rs1112, Colgate was down 1.1% to Rs378, Cigarette major ITC declined 0.8% to Rs186 and McDowell edged lower 0.2% to Rs867.
Technology stocks were down on back of profit booking. Index heavy weights like Infosys lost 1.1% to Rs2223 and Wipro was down 1% to Rs584. While among the Mid-Cap stocks, Mphasis BFL fell 1.9% to Rs250, NIIT Ltd declined 1.6% to TRs434 and Moser Baer lost 1.3% to Rs255.
Metal stocks were back in action after slipping in the previous trading session. Hindalco rose by over 3% to Rs183, Tisco edged higher by 0.2% to Rs493, National Aluminum was up 0.5% to Rs217 and SAIL added 0.3% to Rs86.