Market: Indices
29 May 2007
The markets had a good close much better than most of its Asian peers. It opened weak and traded flat for better part of the day but perked up with buying seen in capital good stocks like BHEL and L&T, followed by Reliance group stocks and pharma stocks like Cipla and Ranbaxy. Midcaps held out their gains giving markets positive breadth. Even the smallcap index closed with gains of over 0.7%. The turnover was high, chunk of it coming from the F&O.
Except for IT and FMCG all the BSE sector indices closed in green. There was lot of action in individual midcaps from metal space like Ispat, real estate stocks like Orbit and brokerage and financial services stock.
L&T came out with fourth quarter results and BHEL which will get ex-bonus shortly were the top gainers.
With F&O expiry coming Nifty rollover was 38%, frontliners like Cipla with 51% rollover and Reliance Communication with 45%. Among the active midcaps with over 50% rollover were RNRL, RPL, IFCI.
Sensex is up 110.32 points or 0.77% at 14508.21, and the Nifty up 36.70 points or 0.86% at 4293.25.
About 1328 shares have advanced, 1194 shares declined, and 102 shares are unchanged.