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Nifty creates history; closes on new high

Monday, May 21, 2007

The market had an extremely good session inline with its global markets. Nifty created history by closing on anew high. All the Asian indices closed in green. Rally was seen on the back of broad based buying interest. Except for IT and auto stocks all the BSE sector indices closed in green. Energy, metal, banking, media and FMCG stocks were among the major gainers. Broader markets also participated in the uptrend giving markets an extremely positive breadth and even the turnover was high.

On the results front, SAIL came out with numbers above street expectations pulling other steel stocks higher.

Energy stocks from Reliance stable, Reliance Energy and Reliance were among the top gainers.

Sensex closed up 115.19 points or 0.81% at 14418.6, and the Nifty up 46.40 points or 1.10% at 4260.9.

About 1366 shares have advanced, 1177 shares declined, and 72 shares are unchanged.

The BSE Midcap index ended at 6,129.69 up 406 points or 0.7%.

The BSE Smallcap Index ended at 7,294.15 up 74 points or 1%.

The BSE Bankex was up 1% at 7,680.71. Canara Bank, Oriental Bank, Allahabad Bank, Federal Bank, UTI Bank
moved upwards.

The BSE Capital Goods Index was up 0.4% at 10,197.01. I SKF India, Thermax, Alstom Projects, Alfa Laval, Bharat Elec closed higher.

The BSE Health Care Index was up 0.7% at 3,761.01. Sun Pharma, Sterling Bio, Aurobindo Pharm, Wockhardt, Biocon closed higher.

The BSE Metal Index closed at 10,494.47 up 2.5%. Jindal Saw, Welspun Guj, Tata Steel, SAIL, Sterlite Ind advanced higher.

The BSE FMCG Index gained 2% at 1,910.74. Shaw Wallace, United Spirits, Colgate, Nestle, ITC closed higher.

BSE Oil and Gas Index closed higher at 7,834.68 up 3%. Chennai Petro, MRPL, BPCL, Reliance, Petronet LNG
ended in green.

The BSE IT Index lost 1.1% at 4,867.32 and the BSE Auto Index closed at 4,886.84 down 0.5%.

The NSE cash turnover was at Rs 9903.66 crore and the NSE F&O turnover was at Rs 31102.23 crore. The BSE cash turnover was Rs 5555.1 crore. Total market wide turnover was at Rs 46560.99 crore.

Posted by FR at 6:51 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.