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Friday, Aug 11, 2006

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Markets close flat amid intense volatility

Srividhya Sivakumar

Small and mid-caps steal the show.
Advancing stocks outnumber declines.
Tea scrips shine.

The markets closed flat after witnessing a day of intense volatility. Though the markets opened higher, concerns regarding the weak global indices led to profit-booking. The day saw the market moving sideways, with the Sensex oscillating 162 points between the day's high and low. The BSE recorded a total turnover of Rs 3,099 crore.

The small-caps brought some solace to the otherwise flat market and recorded a gain of 1.86 per cent. The total advance were 1532 shares as against a decline of 876 , while only 70 shares remain unchanged in the Bombay Stock Exchange. According to the provisional data, the FIIs bought to the tune of Rs 54.9 crore.

Index stocks

Amongst the Sensex pack, HDFC, Cipla, Hindalco were the major gainers, while Ranbaxy, ITC, ONGC and Satyam Computer were among the major losers.

Click here for table

In the mid-cap index, the major gainers were Geodesic, Mercator Lines, SRF, Uttam Sugars and Prithvi Info, while in the small-cap Goodricke, Repro India, Anuh pharma, Oudh Sugars and Sadhbav Engineering moved northwards.

India Bulls surged 4.7 per cent, following a bulk deal in the counter. Among the other stocks, Sagar Cements, Facts Sec and Classic Diamond were some shares to hit their 52-week highs, while Sheetal Bio, Jagran Prakashan and Rashel Agro hit an all-time low.

Sector focus

Tea plantation shares recorded gains today after reports of increase in tea exports in June .Tea exports have recorded an increase of 63 per cent over the corresponding period in the previous year. Some of the shares, which surged were Goodricke, Bombay Burmah, Dhunseri Tea, Harrisons Malayalam, Warren Tea, Ledo Tea and Jayasree Tea.

BSE Auto and Oil and Gas recorded a measly loss for the day. In the oil and gas sector, Indian Oil Corporation closed with a gain of 4 per cent after it fixed its book closure dates for the purpose of payment of dividend.

Sugar stocks were a mixed bag. Frontline stocks in the space — Balrampur Chini Mills and Bajaj Hindustan witnessed selling pressure, while Oudh Sugars, Ponni Erode and Mawana Sugars recorded gains.

Stock-specific action

Rolta India reaped a gain of 12.4 per cent on the back of strong Q4 results. The stock also saw unusually high volumes, around 3.6 times its two-week average traded quantity.

VSNL also witnessed a gain of 2.3 per cent after Tata Sons increased their stake in the company by 2 per cent through open market purchases.

Sadbhav Engineering closed with a gain of 9.9 per cent after the company bagged a contract worth Rs 560 crore from Ahmedabad Urban Development Authority.

Micro Technologies posted a gain of 9.9 per cent after it entered into a partnership with Girvan Institute of Technology. This partnership would help the company to introduce its various security products in the US.


Geoinfo, Mercator Lines, Antgraphic, Rei Agro and Shivalik Global were some of the significant gainers at the NSE. Bharti Shipyard, City Union Bank, Crompton Greaves and MRF ended as prominent losers.

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