Sensex ends 51.80 down, Nifty closes in green

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Mumbai, Mar 10: The Sensex today recovered early losses but was still 51.80 points down on the Bombay Stock Exchange to close at 15,923.72 even as the Nifty index recovered 180 points to end in the green, up by 28.80 points at 4,800.40 following strong recovery in Asian markets.

The benchmark Sensex recovered 561.55 points from an intraday low of 15,362.17, touched in mid-morning trade, and climbed to a day's high of 15,998.33, gaining over 600 points on some positive overseas sentiments in the second half of the trading session, brokers said. The market staged a smart rebound in second half after suffering a sharp fall earlier in the day as Hong Kong's Hang Seng index moved into positive zone.

The market had tumbled earlier in the day after a surprisingly weak US employment data March 7' 2008, on heightened fears of a US recession, brokers opined.

Reliance Industries staged a strong comeback. Heavyweights from the capital goods sector regained some ground after early sell-off.

However, the market breadth remained negative. Only 16 shares from the 30-member Sensex pack advanced.

The broader based S&P CNX Nifty index of National Stock Exchange closed 28.80 points up at 4,800.40. It gained 43.35 points to touch a day's high of 4,814.95 in late trade. Top gainers from the Nifty pack were Reliance Petroleum, which was up 7.51 pc and Cairn India gained 7.02 pc.

The BSE Mid-Cap index was marginally down 0.54 to 6,767.92 while the Small-Cap index declined nearly two per cent to 8,248.73. Both these indices underperformed the Sensex. The total turnover on BSE was Rs 6877 crore as agianst Rs 6,272.94 crore in the previous session.

Turnover on NSE futures&options segment rose to Rs 42402.3 crore as compared to Rs 38712.25 crore in the previous session.

The sectoral indices of BSE were mixed. IT index was down 1.86pc, Consumer Durables index by 2.78pc, FMCG index by 0.79pc, Power by 1.36pc, Capital Goods index by 4.88pc, Bankex by 0.45pc and Realty index was down by about one per cent.

Auto ended 0.42 pc up, Metal index gained 2.24 pc and Oil&Gas index climbed 2.02 pc.

Bajaj Auto surged in volatile trade. It jumped 5.35 pc to Rs 1990.

It was the top gainer from the Sensex pack. Jaiprakash Associates surged 12.81pc to Rs 233.35. The Bombay Stock Exchange said Jaiprakash Associates will replace Bajaj Auto in the benchmark BSE 30-share Sensex pack from March 14.

Heavyweights like Reliance Industries recovered sharply from day's low of Rs 2123.10. It settled 1.03pc higher at Rs 2272 on 15.70 lakh shares.

Bharti Airtel surged 5.16pc, while Banking pivotals recovered amid volatile trade. Private sector banks like HDFC Bank gained 2pc from a low of Rs 1226, and state-run State Bank of India climbed 1.86pc to Rs 1876, off day's low of Rs 1785.30.

However, ICICI Bank was still down 3pc to Rs 866. The stock hit low of Rs 836 and high of Rs 911.90 during the day trade.

Heavyweights from capital goods sector recovered some ground after early sell-off.

Private sector engineering&construction major Larsen and Toubro plunged 8.57pc to Rs 2732, off day's low of Rs 2615.05. It was the top loser from Sensex pack. The stock tumbled on concerns of expected losses of about Rs 150 crore to Rs 200 crore from commodity hedging in the FY08. Meanwhile, Bharat Heavy Electricals was down 6.20pc to Rs 1900, off sharply from day's low of Rs 1820.


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