Sensex gains 79pts; Parsvnath sizzles on Day 1

The Sensex opened marginally (14 points) higher at 13,631. Fresh buying in opening trades saw the index flare up to a high of 13,745.

While buying was seen in auto, banking and technology stocks, cement and metal stocks witnessed profit-taking today.

The Sensex finally closed with a gain of 79 points (%) at 13,696.

The Bankex and IT index rallied 1.3% each to 7180 and 5107, respectively. The Metal index, however, slipped over 1% to 8880.

The market breadth was negative - out of 2,626 stocks traded, 1,332 declined, 1,227 advanced and the rest were unchanged.

INDEX MOVERS & SHAKERS

HDFC Bank advanced nearly 3% to Rs 1,118, and ICICI Bank moved up 1.7% to Rs 871.

Wipro gained 2.7% to Rs 599, and TCS added 2.4% to Rs 1,192. Satyam spurted 1.7% to Rs 459.

Dr.Reddy's and Cipla surged around 2% each to Rs 751 and Rs 254, respectively.

Reliance Communications, Bharti Airtel and BHEL moved up around 1.5% each to Rs 429, Rs 630 and Rs 2,507, respectively.

HDFC, Infosys and SBI were up over 1% each to Rs 1,648, Rs 2,180 and Rs 1,314, respectively. 

Ranbaxy and Tata Steel dropped 2% each to Rs 372 and Rs 468, respectively.

Hindalco and Gujarat Ambuja declined 1.5% each to Rs 173 and Rs 144, respectively.

ACC, Reliance Energy, NTPC, Bajaj Auto and Grasim were down over 1% each to Rs 1,133, Rs 528, Rs 147, Rs 2,645 and Rs 2,764, respectively.

DREAM DEBUT

Real estate developer Parsvnath Developers listed at Rs 540 - up 80% (Rs 240) - when compared with the issue price of Rs 300 on the BSE.

The stock moved in a range of Rs 579 and Rs 482 before settling at Rs 526 - a premium of 75.3% (Rs 226) on Day One. The counter clocked a hefty volume of 1.60 crore shares, i.e almost half the total number (3.32 crore) of shares issued in the IPO.

VALUE & VOLUME TOPPERS

Debutant Parsvnath topped the value chart with a turnover of Rs 865 crore followed by Action Construction (Rs 166 crore), Info Edge (Rs 112.25 crore), Lanco Infrastructure (Rs 102.30 crore) and Indiabulls (Rs 90.35 crore).

Parsvnath also led the volume chart with trades of around 1.60 crore shares followed by Torrent Power (80.55 lakh), IDFC (65 lakh), Action Construction (44.25 lakh) and IFCI (43.35 lakh).