Markets end flat; CG, banks, metal stocks up, IT, realty down

08 August 2008

Markets ended flat after witnessing choppiness in afternoon session. Good buying interest was seen in capital goods, metal, banking and power stocks while selling in technology, realty and select FMCG stocks. Frontline indices had opened on a flat note and remained weak till 2 pm. Since then both indices bounced back and turned into a bit of volatility.

Overall it was a dull session. Lack of buying interest was seen at FII desk. Reliance Industries, Reliance Petroleum and Cairn India were remained under selling pressure. All eyes are on Sebi board meet next week. Even activity in midcap and small cap stocks were relatively lower in todays trade.

Sensex moved in a range of 15,228.82 and 14,888.12. It ended with a gain of 50.57 points or 0.33% at 15,167.82. Nifty touched an intraday high of 4546.35 and lost of 4464, respectively. It closed at 4529.50, up 5.65 points or 0.12%. BSE Midcap and Small Cap indices finished flat.

Decline in crude oil price in international market was also one of reason that market could get support. Crude was trading at USD 117.56 per barrel on the  NYMEX.

Total turnover traded by markets was also lower at Rs 65,039.74 crore. This includes Rs 12,516.90 crore from NSE Cash segment, Rs 47,121.54 crore from NSE F&O and the balance Rs 5,401.30 crore from BSE Cash segment.

On the weekly basis, Nifty went up by 2.5% and Sensex up by 3.3%. Amongst sectoral indices, BSE Bankex shot up by 9.5% followed by Auto with 8.5% and Realty with gain of 5.8%. Frontliners like Maruti rose 21%, HDFC Bank up 16% and ICICI Bank up 13%.