The Hindu Business Line : Sensex on a roller-coaster ride

MARKETS turned volatile again as the benchmark BSE Sensex closed the last trading day of the week on a positive note. The Sensex was up 29.46 points (0.6 per cent) on Friday.

The 30-stock index opened at 4922.48 points, about 10 points lower than the previous day's closing. During early trading sessions, it reached the day's low of 4804.9 points. But it steadily gained ground and reached the day's high of 4978.56 points during the post-lunch trading session, in the process registering an intra-day swing of about 174 points. The Sensex ended the day's roller-coaster ride at 4961.57 points.

Click here for table

On the BSE, barring the BSE Teck, which fell by 0.5 per cent, most of the indices closed the week on a positive note.

On the NSE, the 50-stock index S&P CNX Nifty rose 16.35 points (1.06 per cent) to 1560.2 points. The Nifty Junior and the CNX Midcap 200, however, closed the week in negative terrain.

Of the total of 1,759 stocks traded on the BSE, 746 (42 per cent of the stocks) gained, 925 (53 per cent) declined and the rest remained unchanged. Among the Sensex constituents, 16 stocks gained and the rest declined in value. Index heavyweights were a mixed bag on Friday. The stock of Reliance Industries and Infosys Technologies registered a drop. The stocks of ICICI Bank, ITC and Hindustan Lever, however, closed the day higher. Sensex constituents that registered gains included HDFC (4.8 per cent), Grasim Industries (4.2 per cent) and ONGC (3.5 per cent).

Index constituents that registered sharp fall included Zee Telefilms, BHEL and Tata Power. The stock of Tata Power fell by 6 per cent to Rs 292.85 after registering a sharp drop in profits in the recently concluded quarter. The company's net profit during the quarter ending March 2004, fell by 65 per cent to Rs 54.35 crore from the corresponding previous quarter.

The stock of Federal Bank fell by 8 per cent to Rs 290.55 after recording a flat earnings growth in the recently concluded quarter. The company's net profit during the quarter ending March 2004 grew marginally by 2.2 per cent to Rs 23 crore over the corresponding previous quarter.

The stock of Schenectady Herdillia rose 3.1 per cent to Rs 34.80. The company has plans to issue shares on rights basis.

The stock of Jindal Stainless rose by 2.9 per cent to Rs 60.8. The company has bagged a supply order worth $60 million from China's Minmetals.

The stock of Polar Industries rose by 2.4 per cent to Rs 7.4. The company plans to issue 25 lakh shares of Rs 10 at par, to the promoters and their relatives, on preferential basis.

Stocks that witnessed sharp gains included Fertilisers & Chemicals Travancore (17.6 per cent), Sesa Goa (10 per cent), Siel Sugar (9.9 per cent), Aftek Infosys (9.8 per cent), Shreyas Shipping (9.8 per cent) and Kotak Mahindra (9.4 per cent).

The stock of Tata Honeywell rose 2.4 per cent to Rs 377.55. The company has bagged orders from Hindustan Zinc, Gujarat Ambuja, Indal, HEG, Balco and Tata Steel for automation of their captive power plants.

The stock of Shree Cement fell by 3.7 per cent to Rs 175. The company has decided to set up a one-million-tonne per annum capacity cement plant in Rajasthan. The project is expected to be completed in 18 months.

The stock of KLG Systel rose 11.7 per cent to Rs 36.25. The company has recommended a 15 per cent dividend on the paid-up share capital.

The stock of IBP rose marginally by 0.4 per cent to Rs 459. The company posted over 100 per cent growth to its net profit in the recently concluded quarter.

More Stories on : Stock Markets | Commentary | Sensor

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
CBDT may revise circular on taxation of BPO activities

Pharma industry wears worried look

Draft CMP: Market manipulators beware

NCP to join Govt; Laloo yet to budge

Sourav to bat for Indian tea beyond boundaries

`Java world is getting wider'

Sensex on a roller-coaster ride

RBI waives charges on electronic transfers