Markets end with a marginal gain despite a firm start (Roundup)August 25th, 2008 - 6:26 pm ICT by IANS
Mumbai, Aug 25 (IANS) Indian equity markets ended with a marginal gain despite a strong opening Monday morning. Rate sensitive sectors such as banking, realty and auto stocks were in demand while metal stocks dragged the market down.A sharp fall in crude oil prices triggered a firm opening but the market started to retreat by afternoon after touching the day’s high, and sell-off in key sectors in late trade eroded most of its early gains.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 14,643.37 points, touched a high of 14,672.69 points before closing at 14,450.35 points. It went up by 48.46 points or 0.34 percent at the day’s close.
The National Stock Exchange (NSE) S & P Nifty, which opened at 4,317.95 points, closed at 4,335.35 points. It went up by 7.90 points or 0.18 percent.
The BSE Midcap index, which closed at 5,741.21 points, went up by 14.36 points or 0.25 percent.
However, the BSE Smallcap index, which closed at 6,922.25 points, went down by 3.60 points or 0.05 percent.
The market breadth was positive. On the BSE, 1,347 shares advanced, 1,287 declined and 88 maintained status quo.
Top gainers of the day included HDFC at Rs.2,280.65 up 3.36 percent, Mahindra and Mahindra Ltd at Rs. 549.10 up 2.62 percent, and DLF at Rs.483.95 up 2.23 percent.
Top losers of the day included Tata Power at Rs.1,050.75 down 2.28 percent, Jaiprakash Associate at Rs.164.30 down 2.74 percent, and Ranbaxy Lab at Rs.522.80 down 2.05 percent.