Indian Stock Market Analysis by Nirmal Bang
The Nifty closed the last day of Aug series on a flat note after seeing huge volatility throughout the session. The Sensex closed at 15,781 up 11 points, after seeing an intraday high of 15,853 and low of 15,685. The Nifty shut at 4,688 up 7 points. It touched a day's high/low of 4707 and 4645 respectively.
Buying was seen in capital goods, pharma, and select technology stocks while private banking and power counters were draggers. The Sept Nifty futures ended at 4705 with 17 points premium.
Movers & Shakers The BSE consumer durables index ended 4.1 % higher. Rajesh Exports and Videocon were the biggest gainers in the group. The stocks rose more than 8 % each.
The capital goods index on the BSE rose 1.2 %. Bhel, LT, ABB and Siemens were all up 1.5% each.
The healthcare index was up 1.1 %. Cipla was up 2.9% and Ranbaxy up 1%.
Among the Midcap stock, GMDC, Sintex India, Videocon Ind and Bombay Rayon gained 7-15%.
Among the most active stocks were Aban Offshore up 1%, Hindustan Oil Expl down 1%, Mahindra Satyam up 3.7%, United Spirits up 6%, Reliance Capital up 0.17%, Tata Steel down 5% and Reliance Industries up 0.1%.
In the Sensex pack Tata Steel led the losers. The stock plunged 5.1 % to Rs 436 after the company reported a massive consolidated loss of Rs 2238.5 crore in the June quarter as against a net profit of Rs 3914 crore in the year-ago period.
Tata Motors and HUL were the other main losers in the group, down over 2.3 % each.
Bharti Airtel and Wipro, however, were the major gainers in the pack. The stocks rose more than 2 % each.