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Thursday, February 08, 2007

How Market Fared


Momentum likely to continue

Bulls today conquered new heights reversing yesterdays Loss. The frontline stocks were at the fore front lifting the benchmark Sensex over the 14600 level for the first time. The Auto index was the major gainer and others Bank, Metal and Technology index followed suit. The heavy weights like Infosys, ICICI Bank and ACC were among the major gainers, however Tata Motors, ONGC and HLL were among the major losers. Finally, the BSE benchmark Sensex surged 164 points to close at 14643. NSE Nifty advanced by 28 points at 4224.

Bajaj Auto today was the star performer, with the scrip gaining over 9% to Rs3078 being the top gainer among the 50-scrip’s of NSE Nifty it touched an intra-day high of Rs3093 and low of Rs2795.

Wipro advanced 1.2% to Rs642 as the company is looking at acquisitions in Healthcare, travel sectors. The scrip touched an intra-day high of Rs646 and a low of Rs631 and recorded volumes of over 5,00,000 shares on NSE.

Lupin advanced 2.3% to Rs630 after the company announced they got approval from US FDA for Sertraline Hydrochloride Tablets. The scrip touched an intra-day high of Rs645 and a low of Rs610 and recorded volumes of over 2,00,000 shares on NSE.

Subex Azure advanced 1.6% to Rs725 after the company announced their plans to raise $200mn selling GDRs, bonds. The scrip touched an intra-day high of Rs746 and a low of Rs680 and recorded volumes of over 29,000shares on NSE.

Telecom stocks today were a mixed bag. Heavy weight Bharti Airtel gained 0.3%o Rs772 and MTNL advanced 2.9%to Rs502. However, Reliance Communication lost 0.9%to Rs485 and MTNL was down 0.5% to Rs164.

After being on the receiving end for couple of trading session the Metal stocks today shined. Hindalco gained 4.3% to Rs182, SAIL surged 4.8% to Rs116, Nalco advanced 0.2% to Rs234 and Sterlite Industries gained 1.3% to Rs489.

FMCG stocks witnessed selling pressure towards the end. Mid-Cap stocks like McDowell fell 3.1% to Rs916, Tata Tea was down by 1.5% to Rs705 and Godrej Consumer slipped 0.5% to Rs150. however ITC and Dabur were among the major gainers