The Hindu Business Line : Sensex makes gains for 8th successive day

THE positive run for the BSE Sensex continued for the eighth successive day, with the bellwether ending the day above 5,400 points. The Sensex closed for the day at 5,428.77 points, 31.31 points (or 0.58 per cent) higher than Monday's close. The S&P CNX Nifty also closed 10.35 points higher at 1,685.55 points on Tuesday.

The Sensex opened for the day at 5,409.52 points and in the early hours of trading touched a low of 5,376.04, but bounced back immediately and marched upwards right through the day to touch a high of 5,434.33 points in the last hour of trading.

In the 30-share Sensex, 19 stocks appreciated in value while 11 declined. Among the top gainers in the Sensex were Bharti Tele-Ventures, appreciating by 4.65 per cent, Hero Honda - 3.75 per cent, and Grasim - 3.04 per cent.

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The losers were Maruti Udyog, which dipped by 6.34 per cent, Hindustan Lever 1.48 per cent and ITC 1.35 per cent.

The BSE Sectoral Indices that gained more than the Sensex during the day were the BSE-IT Index, the BSE-Bankex, the BSE Capital Goods, the BSE-PSU and the BSE Healthcare. The laggards were the BSE-FMCG, the BSE Auto, BSE Metal and BSE Consumer Durables.

Among the prominent gainers during the day were Godavari Fertilisers, UTI Bank, HMT, Moschip Semiconductor, Ind-Swift Laboratories, Uniphos Enterprises, Bharti Tele-Ventures, Aztec Software and KEC International.

Riding on strong trading volumes, the Godavari Fertilisers stock appreciated by Rs 10.25 to close for the day at Rs 82.45. The trading volumes in the stock rose from 2.19 lakh shares on Monday's trading to 4.41 lakh shares during the day.

The HMT stock was another significant gainer with the stock gaining Rs 2.4 to settle at Rs 21. The trading volumes in the stock rose from a mere 7,970 shares on Monday's trading to 2.36 lakh shares during the day.

The Ind-Swift Laboratories stock was also in the limelight, with the stock marching up by Rs 6 to rest for the day at Rs 66.95. The trading volumes in the stock jumped from 5.06 lakh shares on Monday's trading to 11.24 lakh shares during the day. The uptrend has to be seen in the light of the company entering into contract research agreements worth $ 3-5 million with two leading European pharmaceutical companies.

The Uniphos Enterprises was another stock, which attracted heightened trading interest, with the stock appreciating by Rs 1.31 to close at Rs 23.09. The trading volumes rose nearly five-fold from 7.09 lakh shares on Monday to 34.69 lakh shares during the day. In the AGM held on August 28, the company has reclassified its equity capital and altered the objects clause of the Memorandum of Association.

The Aztec Software stock gained Rs. 1.85 to close at Rs. 44.25. The trading volumes in the stock soared from 69,246 shares on Monday's trading to 1.04 lakh shares during the day. The stock has appreciated by nearly Rs 15 over the past month on the back of good trading volumes.

Among the significant losers during the day were JMC Projects, Maruti Udyog, Kalyani Forge, Elder Pharma, LIC Housing Finance, TVS Sri Chakra, Nahar Spinning and Mahindra Ugine.

The Maruti Udyog stock continued its second day of decline, with the stock declining by Rs 24 to close at Rs 354.65. The trading volumes in the stock surged from 29 lakh shares on Monday's trading to 66.14 lakh shares during the day. The latest decision by the parent company Suzuki Corporation to set up a new car assembly unit in India through a separate joint venture has dampened sentiment in the stock.

The Kalyani Forge lost ground by Rs 15.5 to close at Rs 294.40. The trading volumes soared from 4,791 shares on Monday's trading to 37,896 shares during the day.

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