Sensex Ends Lower

123jump.com Staff
04 Jul, 2006
Mumbai

The Indian Sensex fell as large caps declined in a volatile trading. Earlier in the trading, the Sensex had soared more than 100 points at the opening. Cement leader, ACC, as well as State Bank of India and Reliance Industries gained, while L&T led the decliners. Honda Motors to consolidate its various operations in India.

[R]10:30AM The Sensex closes in the red in a volatile session.[/R]
The Sensex in India closed 33.04 points, or 0.31% lower at 10,622.22. The turnover on BSE was $453 million or Rs 2,053 crore, lower than the turnover of $543 million or Rs 2,411 crore on Monday. The market breadth was negative with 1,014 shares gaining, 1,336 declining and 71 shares unchanged.

NTPC gained the most, up 3.86% to Rs 115.60 on one million shares. Dr Reddy’s advanced 3.20% to Rs 1,326 while housing lender, HDFC, gained 2.61% to Rs 1,160. Cement leader, ACC, advanced 1.35% to Rs 790.50 after it announced on Monday, its June shipments advanced 4.6%, to 1.541 million tonnes from 1.473 million tonnes a year ago. State Bank of India rose 1.60% to Rs 754 on 1.06 million shares. Reliance Industries advanced 0.30% to Rs 1,074.05 on 1.17 million shares. Tata Motors edged up 1% to Rs 794.10. Tata Motors said on Monday that vehicle sales advanced 37% in June to 45,223 units from 33,018 units a year earlier.

L&T was the biggest decliner, down 3.23% to Rs 2,190, after soaring to a high of Rs 2,322. The company stated on Monday it had secured orders worth Rs 329 crore for high-technology equipment. ITC, dipped 3.12% to Rs 178.30 on a heavy volume of 2 million shares. Reliance Communication Ventures shed 2.39% to Rs 247.60 on 18.31 lakh shares. ONGC declined 1.56% to Rs 1,106 while Cipla slipped 2% to Rs 210.15.

Gainers among the mid and small-cap companies included Universal Cables, up 20% to Rs 125.30, Hikal, up 19.42% to Rs 475, GTL, up 12.67% to Rs 165.90, Premier Tyres, up 9.21% to Rs 30.25, Allsec Technologies, up 8.22% to Rs 202 and Hyderabad Industries, up 9.30% to Rs 293. Indoco Remedies advanced 2.06%, to Rs 250.60 on acquisition of a Mumbai-based bulk drug producing firm La Nova Chem (India), making it a wholly-owned subsidiary of the company.