Markets pick and choose through the day
Mumbai: The benchmark BSE Sensex closed the trading day on a negative note. The index fell by 50.69 points to close at 4848.30 points. On the NSE, the S&P CNX Nifty fell by 1.08 per cent to 1522.75 points.

Market Gainers
Infosys Technologies, Essar Steel, Nahar Spinning, Dishman Pharma, Elgi Equipment, Opto Circuit, Tata Finance, Allahabad Bank

Market Losers
Reliance Industries, ITC, ONGC, Bajaj Auto, BHEL, Dr Reddy's Labs, Zee Telefilms

Market Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)
ACC 228.95 -2.15
Bajaj Auto 863.15 -27.20
Bharti Televentures 149.70 -2.00
BHEL 528.00 -16.50
Cipla 230.45 -4.30
Dr. Reddys Laboratories 741.65 -15.65
Grasim Industries 937.10 -22.10
Gujarat Ambuja 266.90 +1.95
HDFC 550.25 -10.25
HDFC Bank 364.65 -0.55
Hero Honda Motors 450.55 -17.05
Hindalco Industries Limited 1,062.70 -6.25
Hindustan Petroleum Corp 282.65 -3.55
HLL 122.45 -1.25
ICICI Bank 234.65 -2.10
Infosys Technologies 1,420.60 +18.15
ITC 1,009.25 -36.10
Larsen & Toubro Limited 716.85 -13.10
Maruti Udyog 418.50 -0.30
MTNL 131.75 0.00
ONGC 652.35 -13.65
Ranbaxy Labs 970.90 -7.10
Reliance Energy 579.80 +4.05
Reliance Industries 417.95 -12.50
Satyam Computer Services 322.70 +2.40
State Bank Of India 430.50 +1.60
Tata Motors 398.00 -6.65
Tata Power 248.90 -1.60
TISCO 313.65 +6.10
Wipro 511.85 +15.90
Zee Telefilms 125.15 -3.15

Others
Hero Honda down 3.7 per cent at Rs 450.55
UTI Bank up 4 per cent at Rs 126.3
Exide Industries up 3.1 per cent at Rs 126.8
Dewan Housing Finance up 1.7 per cent at Rs 30
Gulf Oil Corporation up 1.4 per cent at Rs 80.65
Xpro India up 4.9 per cent at Rs 27.8
Mastek up 0.5 per cent at Rs 275.1
Kochi Refineries down 3.4 per cent at Rs 153.8
Birla Corp down 8.95 per cent at Rs 96.15
Birla Ericsson down 1.75 per cent at Rs 11.20
Vindhya Telelinks down at Rs 33.10 from Rs 36.75.
Nestle down 2.44 per cent at Rs 525
Glaxo Smithkline Consumer down 5.02 per cent at Rs 234.65
Marico Industries down 0.96 per cent at Rs 123.30
Agro Tech Foods down 4.45 per cent at Rs 49.40
VST Tillers Tractors up 6.67 per cent at Rs 52
Themis Medicare Ltd (TML) up 17.2 per cent at Rs 94
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Actis sells off five per cent stake in UTI Bank
Mumbai: ACTIS, an investment manager, sold about 5 per cent equity stake or a little over a crore of UTI Bank shares to a clutch of foreign funds. Actis sold the stock, comprising about 1.05 crore UTI Bank shares, at an average price of Rs 130 per share working out to a deal size of about Rs 137 crore. UTI Bank shares closed at Rs 126.30 on the BSE
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SBI divests 37 per cent in its SBIMF
Mumbai: The State Bank of India has decided to divest 37 per cent of its holding in its mutual fund arm, SBI Funds Management Pvt Ltd, to Societe Generale Asset Management, for an amount in excess of $35 million. Both parties have signed a memorandum of understanding to this effect. Post-divestment, SBI's stake in the MF arm will come down to 67 per cent.

SBI MF has a market share of 3.1 per cent.

Societe Generale Asset Management is the asset management arm of the large international financial conglomerate Societe Generale Group. The company has aggregate assets under management of over Euro 252 billion worldwide and operates in 20 countries including the US, the UK, Japan, China, Thailand, Korea and Singapore besides the Eurozone countries.

At present, SBI Funds management has total assets under management to the tune of Rs 5,600 crore, and has around 810,000 customers. Company officials said that SBI Funds Management would target a corpus of Rs 10,000 crore by next year.
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