Nifty ends with modest gains; RIL, Hero Honda, HDFC lead
10 Mar 2010
The benchmark Nifty saw another lacklustre session of trade but consistently managed to hold the 5100 mark for third consecutive day. It was positive in first half of trade while turned extremely volatile in second half of trade. Heavyweight Reliance Industries helped the index to remain positive throughout the session despite some small blips along with volatility; the stock gained nearly 1.9%.
FMCG, cement, select banking & financial, auto and capital goods stocks along with TCS and DLF were quite supportive. However, heavyweights like NTPC, ONGC, L&T, Infosys, Bharti, Wipro, ICICI Bank, SBI, Maruti, Tata Steel and Jindal Steel witnessed selling pressure, which limited the gains to major extent.
The 30-share BSE Sensex closed at 17098.33, up 45.79 points, after seeing an intraday high of 17183.51 and low of 17027.92. The 50-share NSE Nifty rose 14.75 points to 5116.25, after witnessing a day's high of 5137.40 and low of 5092.05.
Today's new listing - Texmo Pipes closed at Rs 137.25, a premium of 52.50% over its issue price of Rs 90 per share.
FMCG and cement stocks played an important role in today's trade; ITC and HUL gained 1.3% and 1.6%, respectively. ACC and Ambuja Cements rallied 2% each; Grasim was up 0.7%.
TCS was the only stock from the technology space, which rose 1.5%. However, Wipro, Infosys and HCL Tech fell 0.8-0.9%.