Markets end with marginal gains: Cap Goods, Oil&gas surge

28 July 2008

Markets closed flat after range bound session. It was a slightly cautious trading session ahead of RBI policy meet. Most of the dealers expect RBI to announce Repo rate hike. Buying interest was seen in capital goods, oil & gas, realty, pharma and FMCG sectors. The BSE midcap and small cap indices were up 1% and 2% respectively. However, metal index closed in red.

Index heavy weight  L&T has come out with good set of numbers for Q1FY09. The standalone net profit was at Rs 502.4 crore versus 376.9 crore. The standalone net sales was at Rs 6901.4 crore versus 4505.2 crore. According to CNBC-TV18 estimates, its PAT was expected at Rs 378 crore for the quarter ended June 2008 as against Rs 289 crore in same period of last year. Sales was seen at Rs 5890 crore from Rs 4505 crore. The stock closed at Rs 2,715.00, up Rs 89.40, or 3.40%.

The Sensex was up 74.17 points or 0.52% at 14349.11, and the Nifty was up 20.25 points or 0.47% at 4332.10.

Market breadth was positive, about 1923 shares have advanced, 1009 shares declined, and 219 shares are unchanged.

Top gainers on the Sensex were Larsen, Tata Power, ACC, ONGC and Ranbaxy Labs.

However, top losers on the Sensex were Sterlite Ind, Tata Steel, Hindalco, SBI and M&M.