Pivotals to the rescue

STOCKS REPORT

Investors booked profit in mid and small-cap stocks for the second consecutive day as the Sensex slipped from its all-time high of 6922 in intra-day trades.

However, buying in select frontline stocks such as Reliance, HDFC, Hindalco and Wipro helped the Sensex close 6.11 points higher at 6906.52. The Nifty ended almost flat at 2123.40, up 0.30 points.

Brokers said that investors are jittery and are booking profit at every high level. Next week, monsoon will be a key trigger for the markets.

The breadth of the market was negative with only 446 stocks advancing as against 2,114 stocks declining. The volumes were moderate and accounted for Rs 2,180.16 crore on BSE and Rs 4,096.20 crore on the National Stock Exchange (NSE).

Among the frontline stocks, only 13 of the 30 shares Sensex basket ended positive. HDFC was up 2.05 per cent to Rs 861.30, Reliance gained 1.7 per cent to Rs 600.85, Wipro was up 1.18 per cent to Rs 743.60, Hindalco was up 1.13 per cent to Rs 1,136.45, Maruti Udyog was up 1.05 per cent to Rs 444.55, Satyam was up 0.59 per cent to Rs 486.50, HLL was up 0.44 per cent to Rs 149.10, Tata Steel was up 0.41 per cent to Rs 340.60, Infosys was up 0.38 per cent to Rs 2,288.80, ACC was up 0.25 per cent to Rs 380.25 and Reliance Energy was up 0.24 per cent to Rs 591.25.

Among the indices, the Consumer Durables index was the biggest loser ending 2.17 per cent lower at 1988.03 as investors feared the delay in monsoon will hit these companies hard.

The BSE Mid and Small-Cap indices were the other big losers in today's trading. Among the big losers in the consumer durables pack, JL Morison was down 4.17 per cent to Rs 222.75, Rayban Sun Optics was down 3.8 per cent to Rs 73.40, Godrej Industries was down 3.79 per cent to Rs 207.95, Henkel Spic was down 3.35 per cent to Rs 25.95 and Gillette India was down 2.04 per cent to Rs 705.20.

In the Sensex basket, the big losers were, Grasim, down 1.84 per cent to Rs 1,094.40, ONGC was down 0.94 to Rs 918.15, Larsen & Toubro was down 1.08 per cent to Rs 1,114.55, Tata Motors was down 1.58 per cent to Rs 420, SBI ended 1.82 per cent lower at Rs 667.35 and Tata Power was down 1.83 per cent to Rs 373.80.

Technology stocks witnessed some bargain hunting as the sector is immune to monsoon developments. Aftek Infosys was up 2.72 per cent up at Rs 90.50, Wipro was up 1.18 per cent at Rs 743.60, Hexaware Technology went up 1.16 per cent at Rs 131.15 and Satyam rose 0.59 per cent at Rs 486.50.

In the oil and gas sector, Petronet LNG went up 0.47 per cent at Rs 42.75, HPCL moved up 0.39 per cent at Rs 321.20, BPCL rose 0.27 per cent at Rs 367.85 and Kochi Refineries was up 0.09 per cent at Rs 163.

ONGC, however, slipped 0.94 per cent at Rs 918.15, while Indian Oil Corporation ended 0.72 per cent lower at Rs 440.15.

Foreign institutional investors were net buyers of Indian shares worth Rs 418 crore on Thursday while domestic mutual funds were net sellers to the tune of Rs 82.9 crore.

In the auto space, the big gainers were-Mahindra & Mahindra, up 1.62 per cent at Rs 556.65, Maharashtra Scooters, up 1.23 per cent at Rs 214.80, Maruti Udyog ended 1.05 per cent higher at Rs 444.55, Escorts, up 0.06 per cent at Rs 88.40.

Among the top losers were-Kinetic Engineering, down 3.69 per cent to Rs 84.90, Eicher, slipped 3.60 per cent at Rs 144.55, Hindustan Motors was down 2.84 per cent at Rs 30.75, Eicher Motors lost 1.87 per cent to Rs 314.40 and Ashok Leyland lost 1.64 per cent ending at Rs 24.05.

Select banks stocks such as Vijaya Bank lost 4.93 per cent to Rs 60.75, Bank of Punjab went down 4.50 per cent to Rs 31.80, ING Vysya Bank was down 3.95 per cent to Rs 147.05, Indian Overseas Bank was down 2.93 per cent to Rs 77.75 and J&K Bank was down 2.72 per cent to Rs 357.