The Hindu Business Line : Index heavyweights drag Sensex marginally

AFTER starting the year on a promising note, the BSE Sensex lost ground during the day's trading by 28.19 points (or 0.42 per cent) to close at 6651.01 points.

The Sensex touched a high of 6696.31 points, after opening for the day at 6683.56 points. From the 30-share Sensex constituents, while 10 stocks advanced in value, 20 stocks logged declines.

Click here for table

Among the sectoral indices, the ones which outperformed the Sensex were BSE - PSU, FMCG and Bankex. And the ones which lagged them were BSE - Healthcare, IT, Capital Goods and Oil and Gas.

Out of 2438 shares traded, the advances to declines ratio stood at 1.17, with 1284 stocks appreciating in value, while 1093 stocks logged declines. So, the breadth of the overall market was positive to a large extent.

The S&P CNX Nifty also moved in line with the Sensex, losing 0.53 per cent to close for the day at 2103.75. The Nifty Junior, however, moved up by 0.52 per cent to settle at 4532.35 points and Midcap 200 also inched up by 0.31 per cent to close at 2654.10 points.

Among the Nifty, the significant gainers during the day were Gujarat Ambuja Cements, Punjab National Bank, ACC, Tata Tea and Zee Telefilms. The losers were Sun Pharma, VSNL, Dabur, Reliance Industries and Dr Reddy Labs.

In Nifty Junior, the prominent gainers were Tata Teleservices (Maharashtra), Canara Bank, IFCI, Union Bank and Kotak Bank. The losers were GE Shipping, Nicholas Piramal, Indian Overseas Bank, Corporation Bank and Ashok Leyland.

Outside the broad indices, the key gainers were a mix of low and reasonably high profile technology stocks such as Vakrangee Software, Trigyn Technologies, Cranes Software, Tata Elxsi and others such as Timex Watches, Chowgule Steamships, Moschip Semiconductor, IDBI Bank and Aksh Optifibre.

A clutch of cement stocks such as Mangalam Cement, Kesoram Industries and Shree Cement and a few sugar stocks such as Ponni Sugars, Shree Vani Sugars also figured among the gainers.

The Timex Watches stock rose by Rs. 3.55 (or 19.5 per cent) to close for the day at Rs. 21.7. The trading volumes were robust and shot up from 1.95 lakh shares on Monday's trading to 16.35 lakh shares during the day.

Accompanied by robust trading, the Moschip Semiconductor stock rose by Rs. 4.35 (or 10.1 per cent) to settle for the day at Rs. 47.30. The trading volumes rose nearly ten-fold from 2.99 lakh shares on Monday's trading to 24.95 lakh shares during the day.

The IDBI Bank stock was another prominent gainer, with the stock rising by Rs. 7.10 (or 9.9 per cent) to close at Rs. 78.25. The heightened activity in the stock is evident from trading volumes which doubled from 16.45 lakh shares on Monday to 33.94 lakh shares.

Event based gainers: The Shree Vani Sugars stock gained Rs. 2.21 (or 19.94 per cent) to close for the day at Rs. 13.29. The trading volumes soared from 1.25 lakh shares on Monday to 1.62 lakh shares during the day. The company has announced a book closure from January 27 to January 31 for the purpose of EGM related to preferential issue to promoters and associates scheduled for January 31.

A slew of other technology stocks which attracted heightened activity were Geometric Software - following its acquisition of Teksoft and Cimtronics for $ 1.75 million), Onward Technologies - to consider allotment of equity shares on a preferential basis and Color Chips - which has entered into an agreement with ETV Network for broadcast of the 2D animation serials.

Among the losers were Financial Technologies, Nocil, Uniphos Enterprises, Ramco Systems, Saregama, Zensar Technologies and Gammon India.

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

Stories in this Section
Tech funds lag benchmark

Sideways movement

Overseas terminals for Indian stock exchanges mooted

IDBI Bank up on merger ratio hopes

Expansion drives up Nahar Spinning

Short-term reversal likely in Gujarat Ambuja, i-flex

SEBI suspends regn of PSE member

Index heavyweights drag Sensex marginally

Allahabad Bank to work out issue details