Flat sans triggers

STOCKS REPORT

The markets ended positive with minor gains after trailing in negative territory for most of the trading session.

The benchmark BSE Sensex ended 5.63 points higher at 5,192.08, after touching an intra-day low of 5,155.96. The Nifty ended 3.3 points higher to close at 1,631.75.

Brokers said, "The markets lack direction resulting in lacklustre trading on the bourses. The index is expected to be range bound as investors weighed the possibility of rising interest rates and awaited fresh triggers."

The total turnover at the BSE accounted for mere Rs 1,595.14 crore as against the average daily turnover of around Rs 2,000 crore. Among the indices, the BSE Bankex, down 0.33 per cent, BSE Consumer Durable Index, down 1.08 per cent and the BSE Healthcare Index, down .014 per cent were the losers.

Bharti Tele-Ventures stock ended 2.87 per cent higher at Rs 139.85 after yesterday's sharp correction, while steel major Tisco bounced back from a low levels to end 0.86 per cent higher at Rs 251.90. The stock had hit an intra-day low of Rs 245.25.

Among the heavyweights, Reliance Industries was up 1.81 per cent to Rs 475.55 and ITC was up 0.56 per cent to Rs 1,046.90. State Bank of India was down 0.6 per cent to Rs 442.85, while HLL stock ended almost flat at Rs 112.

"While inflation and interest rates are concerns, they have been factored to some extent. But the market lacks direction and will trade in range bound before volumes pick up," said a leading BSE broker.

Auto pivotals Tata Motors was up 0.45 per cent to Rs 390.50 and Bajaj Auto was up 0.17 per cent to Rs 932. However, two wheeler major Hero Honda Motors stock ended 1.57 per cent lower to Rs 442.50.

Power sector pivotals Reliance Energy was down 0.93 per cent to Rs 653.10 and Tata Power was down 0.67 per cent to Rs 259.60, ended lower on profit booking.

Software services firms were largely higher, as investors moved into the sector to protect themselves against inflation and volatile oil prices.

The newly listed Tata Consultancy Services ended 0.2 per cent higher to Rs 987.95, while Satyam Computer Services gained 0.4 per cent to Rs 339.55 on buying support.

Among private sector banking stocks, HDFC Bank was down 0.71 per cent to Rs 368.25, ICICI Bank was down 0.57 per cent to Rs 269.45 on concerns of a rise in interest rates.

Zee Telefilms was down 1.42 per cent to Rs 152.65 after hitting an intra-day high of Rs 155.50 on profit booking after a sharp surge in the past few days.