Profit booking dampener

STOCKS REPORT

Cement, steel and IT counters were in the limelight in a subdued market yesterday. The Bombay Stock Exchange (BSE) Sensex hit a high of 5,242.15 and a low of 5,181.99 in intra-day trades before closing at 5,194.63, down 7.90 points.

In a lacklustre market, concerns over the impact of rising global oil prices were in focus, as players booked profits after the market rose for three straight sessions.

Marketmen turned sellers in bluechip scrips, with 19 out of the 30-scrip Sensex basket closing lower, losers outpaced gainers 9:8 on the BSE.

The BSE TECk index was the biggest gainer on Tuesday, up 0.81 per cent, followed by the IT sector index, up 0.36 per cent and the capital goods index was up 0.11 per cent.

The BSE PSU index was the biggest loser yesterday, down 1.09 per cent, followed by the BSE Bankex, down 0.81 per cent and the BSE FMCG index was down 0.60 per cent.

Players said that concerns over rising oil prices played on the sentiment but profit taking lead to the fall yesterday. Some brokers though expressed surprise on yesterday's fall as hopes of a revival of monsoon had lifted the markets in the last three trading sessions.

Cash segment volumes were average, with the BSE reporting a turnover of Rs 2,007.35 crore and the National Stock Exchange (NSE) reporting a turnover of Rs 4,806 crore.

Foreign institutional investors were net buyers of Indian shares at Rs 58.60 crore while domestic mutual funds were net sellers to the tune of Rs 16.70 crore.

The top three gainers in the Sensex basket were Gujarat Ambuja Cements, up 4.82 per cent to Rs 296.60, Grasim was up 3.48 per cent to Rs 1,022.15 and ACC gained 2.87 per cent to Rs 250.70.

Tata Steel was up 1.27 per cent to Rs 396.20.

Satyam Computer was up 1.75 per cent to Rs 345.95 and Infosys Technologies was up 1.31 per cent to Rs 1,576.80.

PSU scrips Neyveli Lignite ended 3.01 per cent lower to Rs 48.40, Indian Oil ended 2.02 per cent lower to Rs 411.65, MRPL was down 1.93 per cent to Rs 45.70, Gail India was down 1.71 per cent to Rs 187.10 and Engineers India ended 1.37 per cent lower to Rs 230. BHEL was down 2.20 per cent to Rs 531.20.