Markets ends with marginal gains: IT, midcap up

16 April 2008

The markets closed in green with moderate gains amid a rangebound session. The opening was firm but some profit booking was seen in the last hour of trade. Nifty closed flat just below 4900 mark. Technology stocks have continued the uptrend and outperformed the frontline indices. Market breadth was positive. Midcap were the show stealers as they outperformed the benchmark indices. Buying support was seen from technology, telecom, realty, power, oil and banking stocks. Capital goods stocks witnessed some profit booking while, auto and FMCG stocks were trading sluggish.

Sensex closed up 90.53 points or 0.56% at 16244.19, and the Nifty up 7.65 points or 0.16% at 4887.30.

About 1924 shares have advanced, 871 shares declined, and 279 shares are unchanged.

The BSE Midcap Index ended at 6,699.10 up 1.4%.

The BSE Smallcap Index ended at 8,351.14 up 1.8%.

The BSE Bankex ended at 8,043.71 up 0.6%. Bank of India, Andhra Bank, Kotak Mahindra, Oriental Bank, Allahabad Bank moved upwards.