New peak claimed

STOCK REPORT

The market on Friday witnessed high momentum in the morning as trade resumed after a day off on Dalal Street. The BSE Sensex went up about 90 points during the day, before a sharp fall in the late hours to close at a new life-time high of 7635.42, up 30.39 points.

At the NSE, the Nifty went up 9.15 points to close at 2312.30. The counters witnessed selling pressure on the eve of the expiry of July derivatives contracts, leading to correction during end hours. The market breadth turned highly negative as 1,809 stocks declined on BSE as against 721 stocks advancing.

Traded volumes were high on the BSE as well as NSE. The trade volume at BSE accounted for Rs 3,697.65 crore while on the NSE it went up to Rs 8,829 crore.

Foreign institutional investors were net buyers of Indian shares worth Rs 194.20 crore on Wednesday. The domestic mutual funds were also net buyers of about Rs 108 crore.

Among the indices, the BSE Metal index was the biggest loser on Friday, down 2.38 per cent to 5930.97. Other major losers were the BSE Consumer Durables index (2.07 per cent) and the BSE Health Care index (1.64 per cent). The biggest gainer was the BSE Capital Goods index (1.26 per cent) followed by the BSE Bank index (1 per cent).

The Sensex basket saw 15 gainers and 15 losers in Friday's trades. Bharti Tele-Ventures was the biggest gainer, up 3.72 per cent at Rs 283.10. L&T surged during the late hours to close up 3.72 per cent at Rs 1,270.25 following a 78 per cent rise Q1 net. ICICI Bank, set to announce its first quarter results on Saturday, went up 2.52 per cent to close at Rs 536.

Other major gainers were-SBI (3.20 per cent), Dr Reddy's (3.19 per cent), Bhel (2.43 per cent) and HDFC (2.04 per cent). The Reliance and Tata Motors scrips surged on better than expected Q1 results.

Ranbaxy Laboratories was the biggest loser in the Sensex basket. The scrip plunged 6.62 per cent to Rs 470.60 after reporting a 50 per cent fall in its net profit. ONGC slipped 2.87 per cent to Rs 938.45 after its offshore oil platform was completely destroyed in a fire incident. Other stocks that depreciated were-Reliance Energy (3.75 per cent) and ACC (2.84 per cent).

Scrips such as L&T, State Bank of India, Grasim, Mahindra & Mahindra, Nestle, ING Vysya Bank and Zee Telefilms rode high on Q1 numbers. While SAIL, Matrix Laboratories, Ranbaxy Laboratories plunged on dismal Q1 results. Other scrips that surged were Balaji Telefilms, 3I Infotech and SpiceJet.