Good day for cap goods firms

STOCKS REPORT

Tata Consultancy Services' (TCS') strong debut helped the Bombay Stock Exchange Sensex end higher for the second straight session.

The market were extremely range-bound, with the Sensex ranging between 5054 and 5093 before closing at 5088.56, up 21.17 points. The Nifty ended with modest gains of 4.10 points to close at 1595.70.

Brokers said that the strong debut by TCS helped the Sensex end in positive territory. But the markets are expected to be choopy ahead of the expiry of August series on Thursday, they added.

In Wednesday's trading, TCS was the star performer as the stock debuted at a 23 per cent premium of Rs 1,050 on the BSE. The stock however, slipped from its day's high of Rs 1,080 to close at Rs 987.50, a 16.17 per cent premium to its offer price of Rs 850 per share.

The stock close at Rs 987.95 on the NSE. TCS topped the volumes chart on the bourses and contributed for more than 30 per cent of the total turnover. More than 65.21 lakh shares were traded on BSE and over 1.71 crore shares changed hands on NSE.

Among the indices, the BSE Capital Goods Index was the biggest gainer followed by the BANKEX.