Markets end with marginal gains; cap goods, IT, auto up 2.5-3 per cent

05 June 2009

The benchmark indices ended with marginal gains led by capital goods, technology, cement, auto, select metal and oil & gas stocks. The markets witnessed volatility throughout the session but traded majorly with positive bias.

However, the selling in Reliance Industries, ITC, SBI, NTPC, DLF, Reliance Infrastructure, Suzlon Energy, Tata Steel and PNB capped some of the gains in last hour of the trade. Theses stocks were down 1-5%, especially heavyweights remained weak for the whole day.

The 30-share BSE Sensex touched an intraday high of 15,257.30, before closing the day at 15,103.55 points, up 94.87 points or 0.63%. The 50-share NSE Nifty tested the 4600 mark during the day and hit a high of 4636.85, before closing 0.31% or 14.25 points higher at 4586.90.

TS Anantakrishnan, Director of Prime Wealth Management feels that the Nifty could possibly go up to 4,800, as there is enough momentum in the market. He said, ''I do not see the Nifty breaking below 4,200-4,300 at this point because even though the rally is been strong there is enough money which is right now chasing performance. We have seen USD 4 billion of cash come into the market and on the backdrop of about USD 19 billion which went out last time. There is an appetite for India at this point so we do not see much downside at this point other than the fact that there maybe sector rotation. We might see some consolidation but we will range around these levels.'' 

Among the frontliners, Grasim, Tata Motors, BHEL, L&T, Infosys, Tata Power, Hindalco and M&M were top gainers, went up 3-6%.

Sectoral Performance