Markets end tamely, but manage some gains (Roundup)December 19th, 2008 - 7:41 pm ICT by IANS
Mumbai, Dec 19 (IANS) A key index of the Indian equities markets ended tamely during the dying minutes of trade on the last day of the week but managed to close 0.23 percent higher than its previous close.The 30-share Sensitive Index (Sensex) of the Bombay Stock Exchange (BSE) fell during the last minutes to close at 10,099.91 points, 23.48 points or 0.23 percent higher than Thursday’s close.
The broader-based 50-share S&P CNX Nifty also closed with gains of 16.75 points or 0.55 percent to end the day’s trade at 3,077.50 points.
Broader market indices again out-performed the Sensex, with the midcap index 1.85 percent higher than its previous close, while the smallcap index rose 0.86 percent compared to Thursday’s close.
“Decline in rate of inflation had a rub off effect on today’s (Friday’s) trade as well. Realty and auto stocks went up on the basis this. Banking stocks went down as there was some profit booking towards the end,” said Mukesh Sharma, an investment analyst.
Of the 13 sectoral indices, realty gained the highest with the BSE realty sectoral index rising 10.57 points.
Among top gainers in the Sensex were DLF (up 10.8 percent to close at Rs.277.40), Jaiprakash Associates (up 6 percent at Rs.84.15) and Mahindra and Mahindra (up 4.23 percent at Rs.308.15).
Top losers in the Sensex were Satyam, that fell after Upaid Systems, with which the company is involved in an IT-infringement legal battle, Friday announced it would file a motion in a US court requesting depositions of Satyam’s chairman and other officials in connection with its attempt to acquire two promoter firms.
The Satyam scrip fell 3.87 percent to close at Rs.169.35.
Another top loser was ONGC, which fell 3.23 percent to close at Rs.732.85.
Asian markets fell with the Nikkei, a key index of the Tokyo Stock Exchange, fell 0.91 percent than its previous close.
The Hang Seng, a key index of the Hong Kong Stock Exchange, fell 2.36 percent compared to Thursday’s close.
The US markets Thursday closed lower with a key index of the New York Stock Exchange (NYSE) finishing 78.71 points down. The Nasdaq index closed 370.3 points lower than its previous close.