Markets end flat on July futures series expiry day

31 July 2008

It was a lacklustre day for markets as Nifty July futures series got expired in todays trade and inflation is likely to be around 12%, which will be announced in the evening. Stocks specific activity was seen in select large and midcap stocks. Both broader indices remained rangebound through the day; Nifty broadly hovered around 4,300 level and Sensex too rangebound at around 14,200-14,300 zone.

Buying was seen in metal and oil & gas sectors while selling in pharma, technology, banking and telecom stocks. Market breadth managed to close slightly in positive; about 1420 shares have advanced while 1532 shares declined. Nearly 202 shares remained unchanged.

The Sensex closed at 14,355.75, up 68.54 points or 0.48%, after hitting an intraday high of 14,369.59 and low of 14,161.76. Nifty end with a gain of 19.4 points or 0.45% at 4332.95. It touched a high/low of 4342 and 4285.55.

Reliance Industries, DLF, ONGC, Wipro, SAIL and Tata Steel were main movers while ITC, Bharti Airtel, SBI, TCS, HDFC Bank and Reliance Communications draggers for both indices.

July Futures series was also dull; Sensex fell 0.4% while Nifty up 0.4%. BSE IT went down 11.8% followed by BSE Metal down 7.3% and Auto down 5.3%. BSE Small Cap fell 3% and CNX Midcap down 0.7%.

Amongst frontliners, Siemens was up 4.52%, DLF 4.46%, Tata Power 4%, Tata Steel 3.96%, SAIL 3.53%, SBI 2.03% and Reliance Ind 1.99% while Zee Entertain lost 5.23%, Power Grid Corp -3.51%, NALCO -3.07%, Tata Motors -3.13%, PNB -2.84%, Grasim -2.78%, Maruti Suzuki -2.36%, Wipro -1.53% and Bharti Airtel -1.33%.