End game clips gains

STOCK REPORT

Key indices, which were up around 1 per cent for most part of the session, ended flat due to profit sales in the last half-hour.

Metal companies made a strong comeback on Tuesday and were major gainers after metal prices rose 2 per cent on London Metal Exchange on Monday.

On Tuesday, the Sensex closed at 11502.62, down 9.06 points or 0.1 per cent from Monday. Intraday, it moved 159 points between 11460.93 and 11619.86, indicating a choppy trend.

The National Stock Exchange 50-share Nifty closed at 3364.60, down 1.40 points. Intraday, it moved between 3351.50 and 3398.35.

Turnover on both the exchanges together was roughly Rs 9,200 crore, up 27.7 per cent from Monday.

CNX Midcap ended down 0.2 per cent and S&P CNX 500 ended flat. On BSE, declines led advances 1,284 to 1,236.

Reliance Energy, up 3 per cent at Rs 461.35, was the top Nifty gainer.

"There is no fresh buying taking place. However, markets are choppy due to churning of portfolios," Prakash Rajdev, chief dealer at Khandwala Securities, said.

"Market was sluggish in the absence of any great news and action was confined to specific stocks," another dealer said. Asian stock markets, which ended up 1 per cent on Tuesday, provided some support to indices, dealers said.

European shares were also up as rise in metal and crude oil prices improved the profit outlook of metal and mining companies. Among local sector indices, BSE Consumer Durable was up 2 per cent and BSE Metal Index ended up 1 per cent.

Steel Authority of India was up 3 per cent at Rs 77.65, Hindalco Industries was up 2 per cent at Rs 164.40, and Tata Steel was up 1.5 per cent at Rs 515.45.

Oil retailers were major laggards on Nifty, after crude oil prices on New York Mercantile Exchange Monday rose 1.8 per cent to $72.45 a barrel.

Hindustan Petroleum Corp and Bharat Petroleum Corp, down 6 per cent each at Rs 265.00 and Rs 352.65, were notable Nifty laggards.