Nifty settles above 5,300; DQ Entertainment dazzles on debut.
The Sensex opened almost unchanged at 17,639. Buying in metal and auto stocks helped the index touch a high of 17,793, the highest level in over two years on the back of strong Asian cues. The index continued to trade firm for most part of the day.
The benchmark index however pared some of its gains towards the end and finally ended at 17,711 up 67 points. The NSE Nifty closed 21 points higher at 5,302. In the process, the indexes today registered fresh two year highs.
The market breadth was negative, out of 2,949 shares traded, 1,852 declined and 1,022 advanced on the BSE.
The BSE Consumer Durables index was the major gainer, up 2%, followed by FMCG and bankex, up 1% each. The BSE IT index, however, shed 2% at 5,420 after the rupee strengthened to its highest level in more than 18 months.
Mphasis dropped 3% to Rs 631 and Infosys slipped 2% to Rs 2,715, respectively on the IT index.
The BSE midcap and the smallcap indices were flat at 6,780 and 8,381, respectively.
INDEX GAINERS...
Hindalco was the top gainer, up 3% at Rs 184, followed by Mahindra & Mahindra, up 2.5%, respectively. The stock touched a high of Rs 564, post stock-split price adjustment.
HDFC, Sterlite and Sun Pharma advanced 2% each on the BSE to Rs 2,664, Rs 836 and Rs 1,800, respectively.
...AND THE LOSERS
Infosys and TCS were down 2% each at Rs 2,715 and Rs 811, respectively.
Tata Motors and Reliance were down 1% each.
DAZZLING DEBUT
DQ Entertainment made a dazzling debut today. The stock listed at Rs 135 as against its issue price of Rs 80. The stock touched a high of Rs 140 and a low of Rs 107. The stock finally ended with a solid gain of 36% at Rs 109.
VALUE & VOLUME TOPPERS
Debutant DQ Entertainment topped the value chart on the BSE with a turnover of Rs 460.30 crore. It was followed by NMDC (Rs 120.44 crore), LIC Housing Financial (Rs 116.65 crore), Syncom Healthcare (Rs 102.92 crore) and Pipavav Shipyard (Rs 84.09 crore).
DQ Entertainment also led the volume chart on the BSE with trades of 39.94 million shares. It was followed by Pipavav Shipyard (12.46 million), Bellary Steels (11.21 million) and Birla Power (9.20 million shares) on the BSE.
