Markets end flat; oil & gas, metal, realty up, IT, cement dip
29 Jun 2009
The markets closed on a flat note as it was a consolidation day post Friday's rally. Shares of oil & gas, metal, real estate, banking (barring ICICI Bank) and select infrastructure companies helped the benchmark indices. However, selling in technology and cement along with HDFC, Tata Motors, Suzlon, Sun Pharma, Reliance Communication, ITC, Idea, Tata Power and Hero Honda put pressure on the markets.
It looked like a follow-up session to Friday's rally, after seeing volatility in first hour of trade. The Nifty was inching towards 4450 level while the Sensex was edging towards 15000 mark. But both indices gave up all those gains in the last half an hour of trade and turned choppy.
The 30-share Sensex touched an intraday high of 14,955.55 and low of 14,685.45, before closing at 14,785.74, up 21.10 points or 0.14%. The 50-share NSE Nifty rose 0.35% or 15.45 points, to settle at 4,390.95, after seeing a day's high/low of 4439.95 and 4350.90, respectively.
Reliance Industries, ONGC, SAIL, Sterlite, DLF, NTPC, BHEL, SBI, Tata Steel, L&T and HDFC Bank were leading counters while Infosys, TCS, HDFC, Tata Motors, ITC, Reliance Communication, ICICI Bank, Wipro and Grasim were draggers.
The BSE Realty Index outperformed other indices, gained 2.91%. Metal and Oil & Gas indices rose 2.6% and 2.4%, respectively. However, IT Index declined over 2%.
In the real estate space, HDIL, Orbit Corporation, Sobha Developer, Parsvnath, DLF, Unitech, Omaxe and Akruti City were up 2-5%. In the oil & gas space, Reliance Petroleum, Reliance Industries, ONGC, GAIL, BPCL and IOC gained 1.4-3%. HPCL was up 0.40%.