Srividhya Sivakumar

Pointers


Small and

mid-caps steal the show.

Advancing stocks

outnumber declines.

Tea scrips

shine.

The markets closed flat after witnessing a day of intense volatility. Though the markets opened higher, concerns regarding the weak global indices led to profit-booking. The day saw the market moving sideways, with the Sensex oscillating 162 points between the day's high and low. The BSE recorded a total turnover of Rs 3,099 crore.

The small-caps brought some solace to the otherwise flat market and recorded a gain of 1.86 per cent. The total advance were 1532 shares as against a decline of 876 , while only 70 shares remain unchanged in the Bombay Stock Exchange. According to the provisional data, the FIIs bought to the tune of Rs 54.9 crore.

Index stocks

Amongst the Sensex pack,

HDFC, Cipla, Hindalco

were the major gainers, while

Ranbaxy, ITC, ONGC

and

Satyam Computer

were among the major losers.

Click here for table

In the mid-cap index, the major gainers were

Geodesic, Mercator Lines, SRF, Uttam Sugars

and

Prithvi Info

, while in the small-cap

Goodricke, Repro India, Anuh pharma, Oudh Sugars

and

Sadhbav Engineering

moved northwards.

India Bulls

surged 4.7 per cent, following a bulk deal in the counter. Among the other stocks,

Sagar Cements, Facts Sec

and

Classic Diamond

were some shares to hit their 52-week highs, while

Sheetal Bio, Jagran Prakashan

and

Rashel Agro

hit an all-time low.

Sector focus

Tea plantation shares recorded gains today after reports of increase in tea exports in June .Tea exports have recorded an increase of 63 per cent over the corresponding period in the previous year. Some of the shares, which surged were

Goodricke, Bombay Burmah, Dhunseri Tea, Harrisons Malayalam, Warren Tea, Ledo Tea

and

Jayasree Tea

.

BSE Auto

and Oil and Gas recorded a measly loss for the day. In the oil and gas sector,

Indian Oil Corporation

closed with a gain of 4 per cent after it fixed its book closure dates for the purpose of payment of dividend.

Sugar stocks were a mixed bag. Frontline stocks in the space

Balrampur Chini Mills

and

Bajaj Hindustan

witnessed selling pressure, while

Oudh Sugars, Ponni Erode

and

Mawana Sugars

recorded gains.

Stock-specific action

Rolta India

reaped a gain of 12.4 per cent on the back of strong Q4 results. The stock also saw unusually high volumes, around 3.6 times its two-week average traded quantity.

VSNL

also witnessed a gain of 2.3 per cent after

Tata Sons

increased their stake in the company by 2 per cent through open market purchases.

Sadbhav Engineering closed with a gain of 9.9 per cent after the company bagged a contract worth Rs 560 crore from Ahmedabad Urban Development Authority.

Micro Technologies

posted a gain of 9.9 per cent after it entered into a partnership with Girvan Institute of Technology. This partnership would help the company to introduce its various security products in the US.

Gainers/losers

Geoinfo, Mercator Lines, Antgraphic, Rei Agro

and

Shivalik Global

were some of the significant gainers at the NSE. Bharti Shipyard, City Union Bank, Crompton Greaves and MRF ended as prominent losers.

(This article was published in the Business Line print edition dated August 11, 2006)
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