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Sensex, Nifty end just marginally up, after hitting new lifetime highs

Source : SIFY
Last Updated: Tue, Mar 18, 2014 11:24 hrs
Stock brokers trade in brokerage firm in Kolkata

Despite opening on a buoyant note and recording their new lifetime highs in early trade, the benchmark indices Sensex and Nifty ended the session just marginally up on Tuesday, as investors chose to book profits in late afternoon trade.

While a strong close on Wall Street on Monday on the back of some upbeat economic data and amid easing concerns about Ukraine set up a rousing start for the Indian market, a weak trend in European markets probably forced investors to tread cautiously in late afternoon trade.



The Sensex, which soared to 22,040.72, gaining around 230 points in the process, ended the day at 21,832.61, up just 22.81 points or 0.1% from its previous close. The Nifty settled at 6516.65, gaining 12.45 points or 0.19%, after vaulting to 6574.95 in early trades.

In the forex market, the rupee opened at 61.02 against the U.S. dollar, up 17 paise from its previous close of 61.19. The rupee was last seen hovering around 61.10 a dollar.

Bank, capital goods and oil stocks started off on a high note, but in the end, capital goods stocks closed well off their highs, while a select few from the other two sectors managed to close with strong gains.

Power and FMCG stocks had a good outing. A few stocks from the metal sector posted impressive gains. Automobile stocks closed well of their highs. Healthcare stocks closed on a mixed note, while information technology stocks traded weak.

Maruti Suzuki ended stronger by over 7.5% on strong volumes, following the company's announcement that its board reviewed the proposed Gujarat project on 15 March and decided that the entire capital expenditure for the Suzuki Motor Corporation's subsidiary in Gujarat would be funded by depreciation and equity brought in by the parent body.

State Bank of India, ITC and Coal India gained 2.5% - 2.8%. Reliance Industries gained about 1%. Bajaj Auto, Tata Power, NTPC, ONGC, Dr Reddy's Laboratories, BHEL and Sesa Sterlite gained 0.4% - 1%.

Power Grid Corporation, IndusInd Bank, Jindal Steel & Power, Punjab National Bank, Cairn India, Asian Paints, Kotak Bank, ACC, BPCL and Ranbaxy Laboratories closed on a firm note.

Tata Motors ended nearly 3% down. Mahindra & Mahindra, Lupin, Jaiprakash Associates, Infosys, Wipro, Tata Consultancy Services, DLF and ICICI Bank lost 1% - 2%.

Astrazenca Pharma, Amtek Auto, Orchid Chemicals & Pharmaceuticals, Zensar Technologies, United Bank of India and Polaris Financial Technology saw some hectic buying on stock specific stories.

The market breadth was positive. Out of 2976 stocks traded on BSE, 1545 stocks moved up. 1255 stocks declined and 176 stocks ended flat.


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