The market opened on a firm note on selective buying for index pivotals. However it was not able to sustain at higher levels, and slipped into the red later. ITC hit all-time high in early trade. Market breadth was strong. Asian markets were trading lower today, 2 January 2008.
At 10:25 IST, the 30-share BSE Sensex was down 48.73 points or 0.24% to 20,251.98. Sensex hit a high of 20,393.10 in early trade. At day's high, Sensex rose 151.49 points. Its low for the day so far is at 20233.02 .
The broader CNX S&P Nifty was down 36.65 points or 0.60% to 6,107.70.
Sensex had struck an all time high of 20,498.11 on 13 December 2007. Nifty had hit a record high of 6,185.40 on 13 December 2007.
BSE clocked a turnover of Rs 1697 crore.
The market breadth was strong on BSE with 2204 shares advancing as compared to 364 that declined. 25 remained unchanged
Among the Sensex pack, 22 advanced while the rest declined
India's largest cigarette manufacturer in terms of sales, ITC jumped 2.57% to Rs 223.20. The stock hit all-time high of Rs 227 in early trade today. As per recent reports, ITC's subsidiary Fortune Park Hotels plans to invest around Rs 130 crore in three or four hotels in Bangalore, Coimbatore and Kolkata. It was the top gainer from Sensex pack.
Hindustan Unilever (up 0.87% to Rs 218.50), Grasim (up 0.71% to Rs 3789), and ICICI Bank (up 0.63% to Rs 1238.75), were the other gainers from Sensex pack.
India's largest private sector firm by market capitalization & oil refiner Reliance Industries rose 0.28% to Rs 2,855.15.
HDFC Bank, the nations second largest private sector bank in terms of net profit slipped 1.21% to Rs 1710. It was the top loser from Sensex pack.
Reliance Communications (down 0.91% to Rs 734.15), Bharat Heavy Electricals (down 1.11% to Rs 2555), and Ambuja Cements (down 0.98% to Rs 147), were the other losers from Sensex pack.
Among the side counters, UCO Bank (up 14.34% to Rs 80.95), Atlanta (up 15% to Rs 489), and Atlas Copco (up 11.12% to Rs 1725), surged
Asian markets were trading lower today, 2 January 2008, as investors remained cautious, searching for fresh catalysts after most markets in the region outperformed in 2007. Shanghai Composite (down 0.78% at 5,220.75), Hong Kong's Hang Seng (down 1.02% at 27,528.62), Taiwan's Taiwan Weighted (down 1.31% at 8,394.21), Singapore's Straits Times (down 0.84% at 3,453.15) and South Korea's Kospi (down 1.21% at 1,874.12), edged lower.
US market was closed on Tuesday, 1 January 2008, for the New Year holiday.
Back home, the 30-share BSE Sensex rose 13.72 points or 0.07% to 20,300.71, on Tuesday 1 January 2008. The broader CNX S&P Nifty gained 5.75 points or 0.09% to 6,144.35 on that day.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 461.41 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 306.94 crore on Tuesday, 1 January 2008.
FIIs were net sellers of Rs 68 crore in the futures & options (F&O) market on Tuesday, 1 January 2008. They were net sellers of Rs 192 crore in stock futures and Rs 134 crore in index futures, but net buyers of Rs 258 crore in index options.
Crude oil rose above $96 a barrel today, 2 January 2008 as a storm dropped snow in the Northeast and on speculation U.S. stockpiles fell for a seventh week. Crude oil for February delivery rose as much as 62 cents, or 0.7%, to $96.60 a barrel on the New York Mercantile Exchange.
Meanwhile, merchandise exports from India during November 2007 rose a healthy 26.82% (dollar terms) to $12.42 billion, from $9.79 billion a year ago.
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