The market opened on a strong note tracking firm global equities. But it pared gains sharply after striking all-time high. With todays gains, the market is rising for sixth straight session.
At 10:18 IST, the BSE 30-share Sensex was up 27.17 points to 14,907.41. The barometer index opened higher at 14,932.53 and surged to strike a record high of 14,963.26 at 09:58 IST as buying momentum intensified. But it pared gains sharply to touch a low of 14,907.41.
The barometer index has gained 449 points, or 3.11%, in five trading sessions to 14,880.24, from its close of 14,431.06 on 27 June 2007.
The market breadth was positive on BSE with 865 shares advancing as compared to 834 shares that declined, while 45 remained unchanged.
Among the Sensex pack, 17 declined while the rest advanced.
Engineering and construction major L&T; advanced 2.47% to Rs 2348 on 79,817 shares. it was the top gainer from Sensex pack. L&T; will float five new companies to ensure better corporate governance as well as attracting talent. The companies will operate in L&Ts; new business areas of power projects, boilers, turbines, water and shipbuilding.
Car major Maruti Udyog gained 1.74% to Rs 805 as buying continued after it recorded 24% rise in sales in June on demand for its Swift hatchback and the new SX4 sedan. Maruti sold 59,917 cars, vans and sport-utility vehicles in India and overseas last month, compared with 48,425 a year earlier.
Tata Motors also rose 0.63% to Rs 702.10 while Bajaj Auto rose 0.23% to Rs 2115.
Index heavyweight Reliance Industries (RIL) was down 0.05% to Rs 1716 on 56,224 shares
Bike maker Hero Honda Motors was the top loser, down 1.22% to Rs 677.25 on thin early volumes of 1,413 share
Ranbaxy (down 1.17% to Rs 363.40), Ambuja Cements (down 1.14% to Rs 128.25), and Bharti Airtel (down 1.10% to Rs 848), were the other losers
Realty major DLF was hovering at Rs 554.30, a slight premium over the IPO price of Rs 525. The scrip had debuted at Rs 582. Thereafter it touched a high of Rs 714.25 and a low of Rs 505.60 so far during the day. On BSE, 1.02 crore shares were traded in the counter. The IPO was subscribed 3.47 times. The IPO received total bids for 60.70 crore shares compared to issue size of 17.50 crore shares.
Most of the Asian indices were trading higher on Thursday, 5 July 2007. Japan's Nikkei 225 index advanced as shares of exporters such as Sony Corp. and machinery makers such as Komatsu extended gains, while stocks in South Korea and Taiwan extended their record run from Wednesday. Nikkei gained 0.55% at 18,268.83.
Hang Seng (up 0.35% at 22,215.78), South Korea's Seoul Composite (up 1.18% at 1,860.09), Taiwan's Taiwan Weighted (up 0.80% at 9,141.74) and Singapore's Straits Times (up 0.35% at 3,567.45), all edged higher.
Chinas Shanghai Composite was down 2.72% to 3,712.38
US markets were closed on Wednesday, 4 July 2007 for the Independence Day holiday.
As per provisional data, foreign institutional investors (FIIs) were net buyers of Rs 723.85-crore equities on Wednesday, 4 July 2007, while domestic institutional investors (DIIs) were net sellers of Rs 397.14- crore equities.
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