Infosys helps Sensex end 22 points higher

MUMBAI: Shrugging off weak global trends, the Bombay Stock Exchange benchmark Sensex today closed with a marginal gain of 22 points.

Helped by handsome gains made by IT stock Infosys Technologies, the 30-share Sensex recovered early losses to close higher by 21.65 points at 18,666.71.

Similarly, the broad-based National Stock Exchange index Nifty ended with a gain of 3.85 points at 5,607.85.

While Infosys Technologies, the second heaviest in the 30-stock Sensex pack, gained Rs 16.50 at Rs 2,872.05. Reliance Industries, which carries the maximum weigh in the Sensex, lost Rs 1.80 at Rs 960.05.

Brokers said trading activity was choppy as major market participants adopted a cautious approach amid Asian stocks tumbling.

Investors, however, later picked up fundamentally strong stocks such as ACC, Infosys, Hindustan Unilever, State Bank of India, Sterlite Industries and Tata Consultancy, which saved the market from deep losses.

ACC, the largest cement maker, extended gains after prices of the building material were increased. Its share price gained Rs 28.70 to settle at Rs 991.40,

On the other hand, Larsen and Toubro, the biggest engineering company, closed down by Rs 11.85 at Rs 1,864.40 and Reliance Infrastructure lost Rs 18.45 to end the day at Rs 1,023.25.

TOI

Top 25 mutual funds (annual)* in India

DSP BlackRock Micro-Cap Fund - Growth 69.94
Sundaram BNP Paribas Select Focus - Institutional Plan - Growth 64.68
Kotak PSU Bank ETF - Growth 63.99
Reliance Pharma Fund - Growth 60.45
Reliance Pharma Fund - Bonus 60.44
SBI Magnum Sector Funds Umbrella - FMCG - Growth 60.22
PSU Bank Benchmark Exchange Traded Scheme - Growth 59.87
Religare Mid N Small Cap Fund - Growth 59.81
Religare Mid N Small Cap Fund - Dividend 59.70
Sundaram BNP Paribas Select Thematic Financial Services Opportunities - IP - Dividend 57.50
Franklin Pharma Fund - Growth 57.29
Franklin Pharma Fund - Dividend 57.29
Reliance Banking Fund - Growth 56.85
Reliance Banking Fund - Bonus 56.85
Reliance Equity Opportunities Fund - Institutional Plan - Dividend 53.30
Sahara Banking and Financial Services Fund - Growth 53.21
Sundaram BNP Paribas Select Thematic Financial Services Opportunities - IP - Growth 53.12
Reliance Equity Opportunities Fund - Growth 53.09
Reliance Equity Opportunities Fund - Dividend 53.09
Reliance Equity Opportunities Fund - Bonus 53.09
DSP BlackRock Small And Mid Cap Fund - Growth 52.24
Reliance Banking Fund - Institutional Plan - Dividend 52.03
UTI Banking Sector Fund - Growth 51.94
UTI Transportation and Logistic Fund - Growth 51.62
Reliance Pharma Fund - Dividend 51.01

* We do not rate mutual funds that are less than a year old.

rediff.com

Sensex ends below 18K level

MUMBAI: The BSE benchmark Sensex fell by 228 points today to close below the 18,000-level on heavy selling by foreign funds amid apprehensions of a slowdown in the US.

The 30-share index of the Bombay Stock Exchange, which remained range-bound in early trade, fell sharply in the last 30 minutes of trade to close with a loss of 227.94 points, or 1.25 per cent, at 17,998.41.

The Sensex lost 403.41 points, or 2.19 per cent, this week, its biggest ever fall since the week ended May 21.

The broad-based National Stock Exchange index Nifty also fell by 69.20 points, or 1.26 per cent, to 5,408.70 today.

Marketmen said selling was more pronounced in information technology and tech stocks as major market participants were nervo us ahead of the Federal Reserve's outlook for the US economy, one of their key markets.

A mixed trend in Asia and a lower opening in European stock markets also influenced the trading sentiment here in domestic markets.

In the 30-BSE index components, 26 stocks declined, while four remained higher. IT, tech, banking, realty and consumer durable stocks were the major losers.

The realty sector index was the major loser, losing 2.67 per cent to 3,379.98, followed by the banking index, which fell by 2.07 per cent to 12,216.07.

Analysts said shares of software exporters fell after the Union Cabinet approved the new Direct Taxes Code bill wherein it proposed a hike in the rate of minimum alternate tax on book profits to 20 per cent from the prevailing 18 per cent.

The information technology sector index dropped by 1.84 per cent to 5,408.36, with software exporting companies like Infosys, Tata Consultancy and Wipro badly affected by the hike in MAT. Infosys Technologies dropped by Rs 54.65 to Rs 2,708.85, while TCS fell 2.10 per cent.

The most valuable firm on the Sensex and oil refinery major Reliance Industries continued to lose ground and fell by Rs 6.95 to Rs 949.75.

Among the other losers in the Sensex pack, DLF fell by 3.30 per cent, followed by Hero Honda (3.18 per cent), ICICI Bank (2.84 per cent), Tata Power (2.55 per cent), Jaiprakash Associates (2.40 per cent), Jindal Steel (2.38 per cent), R- Infra (2.17 per cent) and SBI (2.16 per cent).

Small-cap and mid-cap equities also witnessed similar and jitters and lost ground after investors offloaded their holdings.

Barring the oil and gas index, all the sectoral indices were in the red. Oil and Natural Gas Corp, the largest explorer, climbed 2.87 per cent to Rs 1,317.65 after the company discovered oil in a block in the western onshore basin.

TOI

Sensex ends flat, consumer durables gain

MUMBAI: A benchmark index for Indian equities ended flat in a day of volatile trading on Monday.

FMCG stocks weighed the markets down, while consumer durables shot up handsomely and PSU scrips made robust gains.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,400.33 points, closed at 18,398.91 points, almost unchanged from its previous close at 18,401.82 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty shut shop 0.19 percent higher at 5,540.9 points.

Broader markets indices, however, performed better, with the BSE midcap index closing 0.75 percent up and the BSE smallcap index ending 0.92 percent higher.

TOI