| While the broad market expected to be range-bound, specific stocks will continue to outperform the market, was the refrain among brokers. |
| However, low volumes at the bourses is a sign of concern, said a BSE broker. |
| Volumes hit a two-month low on the BSE of Rs 1,403 crore as against an average Rs 2,000 crore some time back. The breadth remained positive with 1,434 gainers to 652 losers. |
| Despite high domestic inflation -- which rose to a 3-year high of 8.17 per cent in the week ended August 21, 2004 -- the mood in the market remained cautiously optimistic. |
| A debt fund manager with a domestic mutual fund said inflation at 8.17 per cent looks to have peaked and should come down in the next couple of weeks. The easing of international oil prices and a strong outlook for the industry should help lift sentiment in the long run, he added. |
| Metal scrips were in action on expectations of strong demand due to a boom in automobiles and construction. |
| The Hindalco Industries share rose 1.8 percent to Rs 1,200.65, while Tata Iron and Steel was up 0.9 percent to Rs 252.75. |
| Tata Motors steered automotive stocks after the company announced impressive August sales numbers. It rose 2.10 per cent to Rs 391.75. Other sector majors such as Hero Honda Motors went up 1.9 percent to Rs 451.30, while passenger cars leader Maruti Udyog was up 2 percent to close at Rs 397. |
| The Zee Telefilms share rose 1.8 percent to Rs 162.60 after the company won telecast rights on Sunday for matches organised by the Indian cricket board for the next four years. |
| The stock in intra-day had gained more than 8 per cent. Heavyweights Hindustan Lever was up 0.86 per cent to Rs 111.80, ONGC was up 0.69 per cent to Rs 713.05, and Reliance Industries was up 0.59 per cent to Rs 476.90. |
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