Sensex ends marginally higher today on BSE

Mumbai, Apr 26: The Sensex today settled with a marginal gain of 11.11 points on the Bombay Stock Exchange at 14,228.88 amidst volatile trade due to the April 2007 derivative contracts that expired today.

The barometer Sensex had opened higher at 14,273.17 and touched a high of 14,383.72 and a low of 14,127.18 during intra-day trade.

The broader 50-stock Nifty Index also gained 10.55 points on the National Stock Exchange (NSE) to close at 4,177.85 from its previous close of 4,167.30 points.

''At the BSE, the market-breadth was weak. Against 1,473 stocks that declined only 1,096 rose and 82 scrips remained unchanged.

Losers outpaced gainers by a ratio of 1.34:1. Its turnover was Rs 4465 crore,'' market analysts said.

Index heavyweight, Reliance Industries (RIL) dropped 0.6 per cent to Rs 1590. The stock had gained as much as 1.5 per cent in early trade, to a record high of Rs 1624.80. RIL unveils Q4 results today.

Six brokerages expect 2.8 - 9.9 per cent growth in RIL's net profit in Q4 March 2007, between Rs 2571.30 crore and Rs 2749.50 crore, compared to Rs 2502 crore in Q4 March 2006. They also expect 3.57 - 20 per cent growth in net sales, between Rs 25419.80 crore and Rs 29450.40 crore, compared to Rs 24,542 crore in Q4 March 2006.

ICICI Bank shed 0.5 per cent to Rs 957, and off the session's high of Rs 994.30. As many as 3.4 lakh shares changed hands in the counter on BSE.

Grasim rose 2 per cent to Rs 2,495 in volatile trade. The stock had risen as much as 3.5 per cent in early trade to Rs 2529, on the back of strong Q4 March 2007 numbers. Grasim reported 80.5 per cent growth in net profit in Q4 March 2007 at Rs 474.49 crore (Rs 262.74 crore). Net sales surged 36.2 per cent to Rs 2493.75 crore (Rs 1829.78 crore).

Two-wheeler makers witnessed a divergent trend. Bajaj Auto rose 2.5 per cent to Rs 2,499 whereas Hero Honda dropped 1.3 per cent to Rs 678. ONGC dropped 2.3 per cent to Rs 950, on profit-taking, after a recent surge. Tata Steel was down 2 per cent to Rs 559.10.

Some information technology (IT) pivotals shrugged off the Rupee's surge. Wipro gained 1.4 per cent to Rs 563.90 and TCS rose 1.4 per cent to Rs 1239.

A stronger Rupee directly impacts the revenue and profits of IT firms, as they derive a lion's share of revenue from exports.

The Indian Rupee rose as high as 40.71 per US dollar today, as investors shrugged off worries about official steps to limit further gains in Asia's best-performing currency this year. It rallied past 41 yesterday for the first time in nine years. The Rupee rose 8.4 per cent against the dollar this year, including an increase of about 3 per cent in the past week.

Refinery shares were in demand. HPCL rose 3.6 per cent to Rs 271.85, Indian Oil Corporation gained 4.3 per cent to Rs 431 and BPCL advanced 2.9 per cent to Rs 338.10.

ABB rose 1.3 per cent to Rs 4095, on the back of robust Q1 results. The company today reported 69 per cent growth in net profit for Q1 March 2007 at Rs 86.63 crore (Rs 51.30 crore).

European markets edged up in early trade, tracking firm Asian markets.

Key benchmark indices in London, Germany and France were up between 0.2 - 0.6 per cent.

Asian stocks rose today after strong profits from US firms eased fears on the outlook for corporate earnings, but the dollar sat near a record low to the Euro on nagging worries of a slowdown in the US economy.

China's main stock index gained 1.04 per cent as investors were encouraged by strong first-quarter corporate earnings. The benchmark Shanghai Composite Index ended at 3,783.063 points after touching a record intraday high of 3,784.68. Stock benchmarks in South Korea and Indonesia also touched records.

Figures for US durable goods orders came out stronger than forecast on Wednesday, but failed to fully dispel doubts about the strength of US growth that had been raised by a weaker-than-expected housing data a day earlier.

The Dow Jones industrial average surged to a record high above 13,000 yesterday, driven by stronger-than-expected earnings, while the dollar slumped to a record low against a basket of major currencies after a tepid US housing report. The Dow Jones industrial average climbed 135.95 points, or 1.05 per cent, to end at a record 13,089.89. Earlier in the day, it hit a lifetime intraday high of 13,107.45. The Standard&Poor's 500 Index shot up 15.01 points, or 1.01 per cent, to finish at 1,495.42. The Nasdaq Composite Index jumped 23.35 points, or 0.92 per cent, to close at 2,547.89.

UNI