MARKET ENDED 13.04.2010 TUESDAY
SENSEX 17821.96 -31.04
NIFTY 5322.95 -16.75
RS/$ 44.35 +00.00
Indian markets ended a lacklustre session in the negative terrain on Tuesday due to lack of support from global peers. Auto, banks and oil&gas weighed on sentiments while IT stocks led the sectoral gainers after quarterly results by Infosys Technologies.
Infosys today reported a marginal rise of 0.25 per cent in consolidated net profit at Rs 1,617 crore for the fourth quarter ended March 31, 2010. The company had a net profit of Rs 1,613 crore in the March quarter of the previous fiscal (2008-09). Income from software services, products and business process management rose to Rs 5,944 crore for the fourth quarter from Rs 5635 crore in the year-ago period. The company's cash and cash equivalents stood at $3.5 billion at the end of March 31, 2010. The scrip gained momentum as the session progressed and ended as the top index performer for the day.
The absolute share price upsides are limited on Infosys. However, it could be a relative outperformer in a weak market.
Bombay Stock Exchanges Sensex ended at 17821.96, down 31.04 points or 0.17 per cent. The 30-share index hit a low of 17736.09 and high of 17892.78.
National Stock Exchanges Nifty closed at 5322.95, down 16.75 points or 0.31 per cent. The index touched a high of 5356.50 and low of 5301.70.
BSE Midcap Index was down 0.30 per cent and BSE Smallcap Index slipped 0.06 per cent lower.
Amongst the sectoral indices, BSE IT Index was up 3.09 per cent and BSE Power Index gained 0.38 per cent. BSE Auto Index slipped 1.32 per cent and BSE Bankex declined 0.87 per cent.
Nifty losers included IDFC (-3.96%), Hero Honda (-3.61%), Reliance Communications (-3%), HDFC (-2.75%) and SAIL (-2.69%).
Infosys Technologies (3.50%), HCL Technologies (3.42%), TCS (2.83%), Wipro (2.39%) and Reliance Power (2.21%) restricted the index fall.
Market breadth was negative on the NSE with 1,407 losers against 1,573 advances.