Blue chips brighten

STOCKS REPORT

Information technology, automobile and fast moving consumer goods scrips were among the biggest gainers on Monday as the Bombay Stock Exchange (BSE) Sensex closed 0.66 per cent (39.11 points) higher at 5,930.47 points from Friday's close, its highest close in eight months.

Volumes were higher with the Sensex hitting an intra-day high of 5,955.94 and a low of 5,912.52.

Blue chip stocks witnessed good buying support, with 18 out of the 30 Sensex stock closing higher.

The broader market also reflected the positive sentiment, with gainers outpacing losers 9:8 on the BSE.

Information technology scrips were in the focus, especially heavyweight Infosys Technologies as the Sensex closed firmly above the 5,900-mark on Monday.

The Infosys Technologies counter gained ground on good buying support after its board approved a second sponsored ADS which players expect will be priced aggressively.

Brokers said buying was seen in select blue chips and mid-cap counters as players look for impetus.

Good foreign fund inflows have been helping the market rise but it is expected to be range-bound in the near-term.

A dealer from a local brokerage said, "Liquidity is driving the market and some correction may be seen as the market nears the 6,000 levels."

The BSE IT index was the biggest gainer, up 1.15 per cent, followed by the automobile index up 1.05 per cent, FMCG index gained 0.90 per cent, TECk index gained 0.90 per cent, metal index was up 0.86 per cent and the healthcare index was down 0.69 per cent and the capital goods index fell 0.02 per cent.

HDFC Bank was the biggest gainer in the Sensex basket, rising 4.49 per cent to Rs 451.80, followed by Hindustan Lever up 2.52 per cent to Rs 136.10, Tata Motors rose by 2.13 per cent to Rs 429.70, Infosys Technologies gained 2.12 per cent to Rs 2018.05 and ONGC gained 2.07 per cent to Rs 823.30.

Ranbaxy Labs was the biggest loser in the Sensex basket, down 2.51 per cent to Rs 1,121.55, followed by Grasim down 2 per cent to Rs 1,136.50, HPCL fell 1.18 per cent to Rs 337.95, ACC down 0.80 per cent to Rs 260.90 and ICICI Bank down 0.71 per cent to Rs 316.35.

Foreign institutional investors were net buyers of Indian shares worth Rs 585.10 crore on Friday, with some big buying being seen in the debutant NTPC.

Domestic mutual funds were net sellers to the tune of Rs 32.10 crore on Friday. Turnover was higher in the cash segment of the bourses on Monday.

The Bombay Stock Exchange reported a turnover of Rs 1,796.36 crore and the National Stock Exchange reported a turnover of Rs 4,332.09 crore.