The broader based Nifty index of National Stock Exchange shed most of its gains and ended the session with a positive gain of 17.40 points at 4,771.60 from its previous close of 4,754.20 in late trade. It had attained a day's high at 4,833.25 in the first half and afterwards moved to a low at 4,738.20 before closing with a marginal positive gap. Market witnessed bouts of alternate buying and selling. However, the session remained choppy throughout the day. Trade volumes were about 20 per cent lower on an average. IT stocks were the top gainers as the Indian currency posed a strong stance against the US Dollar in the last couple of days, marketmen opined.
Market breadth turned negative today. BSE Mid and Smallcaps ended the day with a marginal loss. BSE posted a turnover of Rs 47972 crore.
Index heavyweights, Reliance Energy declined 3.32 pc to Rs 1,189.45, Power Grid Corporation of India was down 0.8 pc to Rs 99.20, Tata Power Company lost 2.34 pc to Rs 1,159.30, State Bank of India was down 0.81 pc to Rs 1,639.10. However, Reliance Power rose 1.06 pc to Rs 329.60, Reliance Industries rose 2.14 pc to Rs 2,393.75.
IT stocks were in good demand today, Wipro was up 5.02 pc to Rs 435.20, Infosys by 3.11 pc to Rs 1,528, Tata Consultancy Services by 3.67pc to Rs 882.10 and Satyam Computer Services up 5.1 pc to Rs 428 were gainers of the day. Mahindra&Mahindra declined 2.29 pc to Rs 651. A consortium of Mahindra&Mahindra and private equity firm ICICI Venture Funds has signed an agreement to buy Italian gear manufacturer Metalcastello.
Financial details of the deal, which is subject to approvals, were not disclosed. Maruti Suzuki India lost 2.92 pc to Rs 788.50, Grasim Industries declined 2.15 pc to Rs 2,560.95, Tata Motors came down 1.48 pc to Rs 628.70, HDFC slid 1.11 pc to Rs 2,442.90 and Bharti Airtel was down 0.36 pc to Rs 821.05.