Mixed trend for key indices

STOCK REPORT

Key indices ended mixed today. The Sensex took a breather and ended marginally down, after touching record highs earlier in the session, as cautious investors booked profits at higher levels. The Sensex had risen 5.5 per cent in the last four sessions.

"The market is settling down near 14000, and is looking for positive surprises from earnings of index heavyweights such as Reliance Industries," a dealer said.

The Bombay Stock Exchange's 30-share Sensex ended at 14114.73, down 14.91 points or 0.1 per cent from Monday. Intraday it touched a lifetime high of 14129.64.

The National Stock Exchange's 50-share Nifty ended at 4080.50, up 2.10 points or 0.1 per cent. It touched a record high of 4107.45 intraday.

Turnover on both the exchanges was roughly Rs 12,300 crore, as against Rs 13,200 crore on Monday.

CNX Midcap was up 0.3 per cent and S&P CNX 500 Index ended flat.

On BSE, advances evened declines 1:1.

Shares of technology companies rallied today on robust Oct-Dec earnings from Tata Consultancy Services and HCL Technologies on Monday. However, shares ended off highs on profit sales.

HCL Technologies ended up 2 per cent at Rs 640, after rising 4 per cent earlier, on 58 per cent year-on-year rise in Oct-Dec net profit to Rs 290 crore.

The company's operating margin rose 22.1 per cent in Oct-Dec from 21.7 per cent in the previous quarter, against expectations of a fall.

Tata Consultancy Services was down 0.2 per cent at Rs 1,324 on profit sales.

The stock was up 4 per cent early today.

TCS late on Monday reported net profit in the third quarter up 47 per cent at Rs 1,110 crore, beating market expectations.

Investment bank JP Morgan increased the price target for TCS by 21 per cent to Rs 1,600 a share, following the robust earnings performance.

Auto companies also posted gains on robust third quarter performance from Bajaj Auto. BSE Auto Index, up 0.8 per cent, was the top gainer among BSE indices.

The Bajaj Auto stock ended up 0.2 per cent at Rs 2,775 on profit sales.

It was up 2 per cent ahead of the earnings.

Mahindra and Mahindra surged 3 per cent at Rs 983 after the company said it will set up a commercial trucks manufacturing plant in Pune for Rs 2,500 crore.

Steel Authority of India, down 3 per cent at Rs 97, was the worst hit on Nifty. Investors booked profits in SAIL following 10 per cent surge in shares in the previous session on talk the company was likely to announce a healthy dividend.

Bank, and oil and gas shares also succumbed to profit sales.

Housing Development Finance Corp and Oriental Bank of Commerce were down 2 per cent each, at Rs 1,560 and Rs 221, respectively.

Reliance Industries and GAIL India were down 1 per cent each, at Rs 1,347 and Rs 278, respectively.