Market Closing Session - 31st Dec

The market posted modest gains on the last day of calendar year 2007, led by gain in telecom stocks and in select heavyweights. Asian markets which opened before Indian market, edged higher. European markets which opened after Indian market, slipped.

The 30-share BSE Sensex rose 80.04 points or 0.40% to 20,286.99. Sensex opened 116 points higher at 20,323.28 and hit a high of 20,484.28 in early trade. At the days high Sensex had gained 277.33 points. Sensex hit a low of 20,239.63 in the day. Sensex had struck an all time high of 20,498.11 on 13 December 2007.

The broader CNX S&P Nifty rose 58.90 points or 0.97% to 6,138.60. Nifty hit a high of 6,167.75 during the day. Its all time high is at 6,185.40, struck on 13 December 2007.

In the calendar year 2007, the BSE Sensex surged 6500.08 points or 47.14% to 20,286.99, from its close of 13786.91 on 29 December 2006. The S&P CNX Nifty vaulted 2172.20 or 54.76% in calendar 2007.

BSE clocked a turnover of Rs 8977 crore as compared to Rs 8497 crore on Friday 28 December 2007. The NSE futures & options turnover was Rs 46186.73 crore, lower than Rs 50436.85 crore on Friday 28 December 2007.

Nifty January 2007 futures were at 6156, a premium of 17.40 points compared to the spot closing of 6138.60.

The market breadth was strong on BSE with 2496 shares advancing as compared to just 387 that declined. 17 remained unchanged

The BSE Mid-Cap index rose 2.24% to 9,789.49, while the BSE Small-Cap index gained 3.47% to 13,348.37. The BSE Mid-Cap index struck an all time high of 9,817.28 today. The BSE Small-Cap index hit a record high of 13,376.80 today. Both these indices outperformed the Sensex.

In the calendar year 2007, BSE Mid-Cap index gained 3984.31 points or 68.63% to 9,789.49, from its close of 5805.18 on 29 December 2006. The BSE Small-Cap index gained 6456.05 points or 93.67% to 13,348.37, from its close of 6892.32 on 29 December 2006.

All sectoral indices on BSE settled higher today, except BSE IT index. BSE Oil and Gas index (up 0.75% at 13,301.60), BSE TecK index (up 1.64% to 4,015.03), BSE Capital Goods index (up 0.56% at 19,755.39), BSE Consumer Durables index (up 5.37% to 6,956.79), BSE FMCG Index (up 1.72% at 2,319.92), BSE Health Care index (up 1.84% at 4,418.65), BSE PSU index (up 2.18% to 10,468.14), BSE Power Index (up 1.25% at 4,548.85), BSE Auto index (up 1.29% at 5,667.45), BSE Realty (up 1.40% to 12,727.42), outperformed the Sensex.

BSE IT index (down 0.49% to 4,529.59), BSE Metal index (up 0.36% at 20,020.22), and Bankex (up 0.28% to 11,418.00), underperformed the Sensex.

Among the Sensex pack, 15 advanced while the rest 15 declined.

Indias largest cellular services provider in terms of market capitalisation, Bharti Airtel surged 5.03% to Rs 988. 3.96 lakh shares changed hands on the counter on BSE. The stock rose on reports a clutch of international investors, led by Singapore's Temasek Holdings, are putting in $1 billion in its 100% subsidiary Bharti Infratel.

Other telecom stocks, Reliance Communication (up 1.17% to Rs 741.15) and Idea Cellular (up 6.38% to Rs 140), also logged gains

India's largest private sector firm by market capitalization & oil refiner Reliance Industries was down 0.57% to Rs 2881.70 on 5.29 lakh shares. The stock eased from session's high of Rs 2948.80.

ITC (up 2.43% to Rs 210.50), and Ranbaxy Laboratories (up 1.90% to Rs 423.50) were the other gainers from Sensex pack.

Housing Development Corporation (HDFC), the countrys largest dedicated housing finance company slipped 1.92% to Rs 2868. It was the top loser from the Sensex pack

IT pivotals slliped. Wipro (down 1.67% to Rs 521.10), Satyam Computers (down 0.75% to Rs 446.25) and Infosys Technologies (down 1.82% to Rs 1763), edged lower.

Shares of state-run refining and marketing companies surged on reports that the government is likely to finalise price increase at a meeting of a Group of Ministers around second week of January 2008. Indian Oil Corporation (IOC) surged 6.90% to Rs 790, Bharat Petroleum Corporation (BPCL) gained 10.65% to Rs 523 and Hindustan Petroleum Corporation (HPCL) advanced 6.31% to Rs 364.50.

Brokerage shares surged on fresh buying. India Infoline (up 8.30% to Rs 1921), Edelweiss Capital (up 5.54% to Rs 1607), Motilal Oswal Financial Services (up 5.57% to Rs 1860) and Religare Enterprises (up 10% to Rs 607.50), surged.

Axon Infotec (up 20% to Rs 90.30), GIC Housing Finance (up 20% to Rs 98.10), Jayant Agro Organics (up 20% to Rs 20.34), Gati (up 20% to Rs 184.90), Ucal Fuel (up 20% to Rs 122.70), and Deepak Nitrite (up 20% to Rs 150.65), surged

Era Construction (down 10% to Rs 815.95), Garnet International (down 8.21% to Rs 111.75), and Core Projects (down 6.99% to Rs 423), slipped

Brigade Enterprises settled at Rs 378, a discount of 3.07% over IPO price of Rs 390. The stock debuted at Rs 399.70, a premium of 2.48% over the IPO price. The stock moved in a range of Rs 409.40 and Rs 365.80 for the day.

eClerx Services settled at Rs 447.50 on BSE, a premium of 42.06% over the IPO price of Rs 315. The stock moved in a range of Rs 466.80 and Rs 320 for the day

Industrial Finance Corporation of India soared 12.61% to Rs 92 on hopes of re-bidding for a 26% strategic stake sale in the firm.

Housing Development and Infrastructure gained 4.04% to Rs 1087 on reports the company is planning to set up a 5,547-acre special economic zone in Vasai-Virar region near Mumbai.

Rashtriya Chemicals & Fertilizers surged 4.98% to Rs 117.95, after the company said it has signed a memorandum of understanding with GAIL India for setting up coal gasification project in Talcher, Orissa

Time Technoplast rose 2.91% to Rs 993.90 on reports the company is eyeing 2-3 acquisitions in the solar energy space to boost its presence in the renewable energy space.

Bata India surged 12.78% to Rs 289 after reports that Reliance Industries subsidiary Reliance Retail has entered into a strategic alliance with the company to jump-start its footwear vertical.

France's CAC 40 index was down 0.46% to 5,601.28 whereas the FTSE 100 index in UK was down 0.54% to 6,442.20.

Asian markets were trading firm today, 31 December 2007. Hang Seng (up 1.62% at 27,812.65), Straits Times (up 1.06% at 3,482.30) and Taiwan Weighted (up 1.30% to 8,506.28) rose. Stock markets in Japan, China, Indonesia and South Korea were closed today, 31 December 2007.

US markets ended on a mixed note on Friday, 28 December 2007, after new home sales declined 9% in November 2007 to an annualized rate of 6,47,000 units. The Dow Jones industrial average was up marginally by 6 points at 13,366. The Nasdaq Composite index was down 2 points at 2,674.

India's wholesale price index rose 3.45% in the 12 months to 15 December 2007, lower than the previous week's rise of 3.65%, government data showed on Friday, 28 December 2007.