28 May 2007
The markets gave up their gains and ended with marginal gains on account of profit booking that set in during the last hour of trade. It opened strong and traded firm for better part of the day but failed to sustain its position at the higher level. With rupee hitting new highs, the IT stocks continue to struggle. TCS CFO has said that Q1FY08 average rupee rate is seen below 41per USD.IT majors like Wipro, Infosys and Satyam were among the top losers. Metal stocls like SAIL and Sterlite Industries also contributed to the fall.
Buying interest was seen in banking, auto and pharma stocks. HDFC Bank, GSK, L&T, Ambuja Cements, Dabur India were among the top gainers.
Unitech has declared strong numbers for FY07 and the stock was up over 8%. Its board has approved 1:1 bonus issue.
India Infoline was the star performer in todays trade which surged nearly 30% on the back of its entry into institutional segment.
Sensex was up 59.44 points or 0.41% at 14397.89, and the Nifty up 8.40 points or 0.20% at 4256.55.
