Dull market ends slightly down

The 30-share Sensex closed lower by 37 points at 15505 and NSE Nifty closed flat at 4497.

The struggle for clear direction continued today on Dalal Street. As, markets failed to capitalize the gains on Wall Street, across Europe, Latin America and other emerging markets. In a range bound trading session, markets swung between gains and loses before ending slightly lower. Select index heavyweights like ICICI Bank, NTPC, ITC and L&T wer among the major loses dragging the key indices lower. While, RIL, REL and Bajaj Auto were among the notable gainers. Finally, the 30-share Sensex closed lower by 37 points at 15505 and NSE Nifty closed flat at 4497.


Essel Propack rallied by over 7% to Rs67 after reports stated that the Indian maker of laminated tubes and packaging plans to buy the packaging unit of Alcan Inc. The scrip has ouched an intra-day high of Rs69 and a low of Rs64 and recorded volumes of over 4,00,000 shares on NSE.


Reliance Industries edged higher by 1.5% to Rs2013 after reports stated that the world's largest polyester maker will pay $250mn to buy the assets of Hualon Corp. of Malaysia. The scrip touched an intra-day high of Rs2021 and a low of Rs1992 and recorded volumes of over 24,00,000 shares on NSE.


IDFC advanced by 1.4% to Rs134 as the RBI has increased the investment limit for FIIs in the companies. The scrip touched an intra-day high of Rs138 and a low of Rs133 and recorded volumes of over 57,00,000 shares on NSE.


Hanung Toys surged by above 6% to Rs164 amid reports that it has won a Rs6bn order from a Swedish company. The scrip touched an intra-day high of Rs167 and a low of Rs154 and recorded volumes of over 8,00,000 shares on NSE.


Pharma stocks were in poor health. Sun Pharma edged lower by 0.4% to Rs1006; Cipla was down by 1.4% to Rs174, Ranbaxy declined by 0.7% to Rs416 and Dr Reddy’s Lab edged lower by 0.5% to Rs647.


IT stocks ended lower as rupee continued strengthen against the USD. Satyam Computer slipped by 1.4% to Rs427, TCS was down by 1% to Rs1015, Rolta dropped by 4% to Rs480 and Mphasis declined by 3.2% to Rs282.


Realty stocks were in momentum. DLF gained by 2.7% to Rs635, Unitech advanced by 3% to Rs262 and Sobha was flat at Rs752.


Metal stocks continued to trade firm. Sterlite Industries gained by 2.3% to Rs624, Tata Steel gained by 0.5% to Rs711, JSW Steel advanced by 1.5% to Rs681 and Hindustan Zinc added 0.5% to Rs709.