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Sensex, Nifty close flat: VSNL, BPCL top gainers

Published on Fri, Oct 06, 2006 at 10:00 | Source : Moneycontrol.com

Updated at Fri, Oct 06, 2006 at 18:00

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Markets @ 11:21 am

Markets flat: BSE Metal up 1.75%, VSNL gains 9%

The markets were witnessing flat trade as Asian peers were also in flattish mode. At 11:21 am, the Sensex was up 21 points at 12,410. The Nifty was up 10 points at 3,575.

The market breadth was positive, about 1399 shares have advanced, 605 shares declined, and 61 shares are unchanged.

Top gainers were Hindalco (1.77%), Gujarat Ambuja Cements (1.24%), BHEL (1.01%), Tata Steel (1%) VSNL (9.01%), SAIL (2.31%) and Siemens (2.15%).

However, HDFC (-1.10%), Tata Motors (-0.85%), ITC (-0.69%), Satyam (-0.66%), Oriental Bank (-0.95%) and Glaxo (-0.79%) were top losers on the bourses.

The BSE Small Cap and Midcap indices were up over 1% and 0.80%, respectively.

The BSE Metal Index has outperformed other indices. It was up 1.75% as buying was seen in Jindal Saw, SAIL, Hindalco, JSW Steel, Sesa Goa, Sterlite Ind and Hind Zinc.

The BSE Capital Goods Index also gained 1.15%. The BSE Auto, Bankex, Healthcare and Oil indices were flat.

However, FMCG stocks have lost ground.

M&M is in talks with Uttaranchal Govt to set up 3-wheeler plant. The company is going to invest Rs 1,000-2,000 crore (Rs 10-20 billion) in Uttaranchal unit and new 3-wheeler plant is likely to have capacity of 1-lakh units per year. Its production in new plant will start by FY09. The share was up Rs 3, or 0.44% at 692.30.

Markets @ 9:57 am

Markets open on positive note; Metal, IT, bank gain

The markets opened on a positive note but became volatile. The buying was continuously seen in metal, technology, and banking stocks. At 9:57 am, the Sensex was up 35 points at 12,424 and the Nifty up 15 points at 3,580.

Tata Steel, Reliance, Reliance Comm, SBI, ICICI Bank, L&T, HLL, Satyam, SAIL, VSNL, Zee, Hindalco, NTPC, HDFC Bank, Wipro, TCS, Infosys, Bajaj Auto, MTNL and ONGC were gainers on the bourses in the morning trade.

Asian shares were mixed today; Japan's Nikkei was down 57.43 points or 0.35% at 16,391.9.

US stocks rose slightly yesterday; the Dow Jones industrial average rose 16.08 points, or 0.14%, to 11,866.69, a record close.

Market cues:

FIIs net sell USD 90.1 million in equity on October 4
MFs net sell Rs 131 crore (Rs 1.31 billion) in equity on October 4
NSE F&O Open Interest up by Rs 1,002 crore (Rs 10.02 billion) at Rs 36,762 crore (Rs 367.62 billion)
Futures Open Interest up by Rs 311 crore (Rs 3.11 billion); Options Open Interest up by Rs 691 crore (Rs 6.91 billion
NIfty Futures shed 16.4 lakh shares in Open Interest on short covering by FIIs
Nifty Futures at 7-point premium

November crude gained 62 cents to settle at USD 60.03 a barrel on the New York Mercantile Exchange.

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