Markets end '07 in green: Metal, cap goods, oil up, IT down

31 December 2007

The markets closed in the green on the last day of the year despite some mixed cues from Asia and Europe. Telecom space was buzzing along with power, realty, pharma, FMCG and auto stocks. However, select banking and IT stocks were trading weak languishing at the lower levels. Broader markets continued to outperform giving markets an excellent breadth.

2007 was a year of records for Indian markets. We saw the highest number of 1000 marks being croseed on the Sensex. Sensex crossed six thousand marks as compared to five in 2005. Sensex gave areturn of around 47% in 2007. Metals, capital goods and oil & gas stocks had a tear away rally giving over 100% returns.

In 2007 IT stocks like Infosys, Subex and pharma stocks like Cipla and Dr Reddy's gave negative return.BHEL, SBI, NTPC, Bharti were among the top frontline gainers. In the midcap space RNRL, Ispat, Indiainfoline, Essar Oil gave hefty reurns.

Sensex closed up 80.04 points or 0.40% at 20286.99, and the Nifty up 58.90 points or 0.97% at 6138.60.

About 2684 shares have advanced, 393 shares declined, and 27 shares are unchanged.

The BSE Midcap Index ended at 9,789.49 up 2%.