Capital goods, metals and consumer durables record significant gains
Advances outnumberdeclines by 3 times
Buying interestin the plantations sector
With the expiry of the May month derivatives the markets appeared to have gained confidence. The advances-declines ratio reflected the reversal in sentiment. All indices on the BSE closed in the green reflecting the positive sentiment that prevailed in the markets. Midcap and smallcap indices, which were bruised badly in the early part of the week, registered significant gains.
Markets appeared to have caught a fancy for consumer-oriented stocks. The FMCG and consumer durables indices on the BSE gained about two per cent. Stocks such as
Dabur India, Classic Diamondsand
Titan Industriesrecoded a surge in volumes.
The metals sector featured prominently in the shopping list of market participants as 12 constituents of the BSE-Metals index advanced.
Gujarat NRE Cokegained about 15 per cent on reports that the company plans to raise coke prices. A five-fold jump in volumes was recorded on its counter. Prominent gainers in the steel space included
Mahindra Ugine, JSW Steel, Kalyani Steeland
SAIL. Non-ferrous stocks such as
Hindustan Zinc, National Aluminiumand
India Foilsregistered sharp gains.
Banking stocks also shared the limelight on Friday with many of them gaining by more than three per cent. Frontline stocks, however, were sidelined in the rally.
Vijaya Bankfeatured among the major gainers, the stock advanced by about 15 per cent on strong volumes. Other prominent gainers in the public sector list included
Allahabad Bank, Bank of Maharashtra, UCO Bank, Canara Bankand
Indian Overseas Bank.
Punjab National Bank,however, bucked the positive trend. Major gainers in the private sector included
J&K Bank, Bank of Rajasthan, Centurion Bank of Punjaband
On Friday a green trend swept the tea industry with frontline stocks in this sector recovering a large part of their declines. Prominent gainers in this sector included
Assam Company, Dhunseri, Harrisons Malayalam, Williamson Teaand
Goodrickefigured at the top of the list by registering an eight per cent gain.
Tata Coffee, which also has interests in the tea business, also gained three per cent.
Bombay Burmah, which appreciated considerably in the recent weeks, did not participate in the rally.
A mixed sentiment prevailed in the cigarettes industry.
GTC Industries, which lost considerable value in the past ten trading sessions, failed to evoke significant interest among market participants.
Godfrey Phillipsclosed flat while
VST Industriesdeclining by two per cent.
ITCwhich beat market estimates gained marginally by about 1.5 per cent.
A mixed sentiment also prevailed in the caustic soda industry. While many small cap stocks registered gains,
Gujarat Alkaliesremained flat. Prominent gainers in this sector included stocks such as
Kanoria Chemicals, Punjab Alkalies, Bihar Causticand
Siel. Buying interest could be gauged on the counters of soda ash manufacturers.
GHCLadvanced by two per cent.