Business Daily from THE HINDU group of publications
Friday, Oct 26, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Oct 26, 2007 ePaper | Mobile/PDA Version |
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Stock Markets Markets - Stocks Our Bureau Mumbai, Oct. 25 Fresh buying support and overall positive sentiment helped markets to make fresh gains as traders have almost discounted the impact of SEBI’s new norms for P-Notes. The benchmark index, Sensex gained 257 points as it ended the day at 18,770 on Thursday. “There was a lot of short-covering and fresh buying by domestic institutions which was one of the reasons the markets ended positive,” said Mr Jignesh Desai, Head of Institutional Sales, SBICAP Securities. BSE-Metal and BSE-Bankex were the top gainers among the sectoral indices as they were up 4.13 per cent and 2.67 per cent, respectively. The other sectoral indices which fared well are BSE-Auto (1.84 per cent), BSE-CD (1.51 per cent) and BSE-PSU (1.16 per cent), while BSE-FMCG and BSE-HC were in red down 0.03 per cent and 0.54 per cent, respectively. “Banking stocks did well as on the expectations of a rate cut in the RBI policy next week,” said Mr Vishwas Agarwal, an independent technical analyst. “The futures rollover was also comfortable which shows signs of a strong market mood.” The major gainers were Tata Steel, which went up 8.03 per cent, ICICI Bank up 4.44 per cent, Maruti Udyog 3.61 per cent, Bharti Airtel 3.41 per cent, HUL (2.42 per cent), Tata Motors (2.42 per cent), HDFC Bank 2.28 per cent, Wipro Ltd was up 2.06 per cent. The scrips, which lost today include Cipla Ltd which dipped by 5.01 per cent, Dr Reddy’s was down by 2.44 per cent and ACC Ltd went down by 1.57 per cent. SEBI Oct 25 meet to evaluate responses to PNs Right move on PNs Sub-accounts get 1 week to register as FIIs Volatility sweeps market; Sensex dives 717 points More Stories on : Stock Markets | Stocks
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