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Rediff News  All News  » Business » Sensex pares gains on profit-taking, ends up 113 points

Sensex pares gains on profit-taking, ends up 113 points

March 18, 2009 16:33 IST

Realty and metal stocks shine today; Mid-caps - Tulip Telecom zooms 31%, Akuti City skyrockets 28%.

The Sensex opened 92 points higher at 8,956 backed by positive global cues. Aggressive buying in realty and metal stocks led the index rally to a high of 9,120 - up 256 points from the previous close.

However profit-taking at higher levels, mainly banking and oil & gas coupled with weakness in FMCG stocks saw the index pare gains in the last session.

The Sensex touched the day's low of 8,951, and finally ended with a gain of 113 points at 8,977.

The NSE Nifty ended at 2,795, up 37 points.

The BSE Realty index soared 7.7% (113 points) to 1,584. The Metal index surged 3.5% (173 points) to 5,147, and the Capital Goods index gained over 3% (188 points) at 6,084.

The market breadth was fairly positive - out of 2,589 stocks traded, 1,551 advanced and 930 declined on Wednesday.


DLF zoomed nearly 8% to Rs 171, and Jaiprakash Associates soared 6.5% to Rs 79.

Tata Steel and BHEL rallied around 4.5% each to Rs 176 and Rs 1,459, respectively.

Reliance Infrastructure and ICICI Bank surged 3.5% each to Rs 480 and Rs 335, respectively.

Sterlite, Hindalco and Larsen & Toubro advanced over 3% each to Rs 302, Rs 45 and Rs 636, respectively.

Tata Motors and Reliance gained 2.5% each at Rs 176 and Rs 1,331, respectively.

HDFC Bank and TCS were up around 2% each at Rs 843 and Rs 507, respectively.


Mahindra & Mahindra slumped 4% to Rs 362. Tata Power shed 2.5% at Rs 661.

ITC slipped over 2% to Rs 169, and ACC was down 1.5% at Rs 548.


Tulip Telecom zoomed nearly 31% to Rs 390, and Akruti City soared 27.5% to Rs 2,012. Jet Airways, Welspun Guj, Aditya Birla Nuvo, Gujarat Petronet, Federal Bank, Nagarjuna Construction, Petronet LNG and BEML rallied 8-15% each.


GlaxoSmithKline Pharma slumped 6% to Rs 1,086. IOC, Ambuja Cements, HPCL, BPCL, Areva, Jain Irrigation, Rolta and India Cements shed 3-5% each.


Akruti topped the value chart with a turnover of Rs 786.55 crore followed by Reliance (Rs 217.06 crore), ICICI Bank (Rs 146.17 crore), Educomp Solutions (Rs 143.71 crore) and Everonn Systems (Rs 135.96 crore).

Vijaya Bank led the volume chart with trades of around 2.69 crore shares followed by Cals Refineries (2.01 crore), Suzlon Energy (1.58 crore), Satyam (1.40 crore) and Reliance Natural Resources (1 crore).

BS Reporter in Mumbai