Markets end higher on global support; IT, auto, bank up

25 February 2009

It was a good session for the markets, which ended higher despite giving up some gains in last one hour of trade. There was some amount of volatility in the markets throughout the session ahead of F&O expiry. Upside in global markets has helped our markets as well.

Shares of oil & gas exploration, technology, auto, metal, banking and power companies were being supportive to the markets. However, sell-off in HDFC, L&T, DLF, Reliance Communication, Ranbaxy, ABB, Ambuja Cements and ACC helped the markets to slip from higher levels.

The 30-share BSE Sensex closed at 8,902.56, up 80.50 or 0.91%, which lost nearly 92.5 points from day's high of 8,995.04. The 50-share NSE Nifty gave up roughly 27 points from day's high of 2789.35, before shutting shop at 2762.50, up 1.05% or 28.60 points.

Nifty February Futures ended with 10.3 points discount while the March Futures with 27.5 points discount.

Volumes have declined compared to previous session; total traded turnover stood at Rs 48,963.85 crore. This includes Rs 6,621.62 crore from NSE cash segment, Rs 40,129.86 crore from NSE F&O and the balance Rs 2,212.37 crore from BSE cash segment.

Auto stocks remained star performers of the day, especially commercial vehicles segment, wherein government has cut 2% excise on Tuesday. M&M, Amtek Auto, Tata Motors, Bharat Forge, Ashok Leyland and Maruti Suzuki were up 3-8%. Auto Index went up 3% or 76.34 points, to 2,622.38.