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Markets end mixed; Nifty closes at 4,999

Markets end mixed; Nifty closes at 4,999
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First Published: Thu, Apr 24 2008. 04 06 PM IST
Updated: Thu, Apr 24 2008. 04 06 PM IST
By livemint.com
New Delhi: The markets closed mixed on the last day of F&O expiry with the benchmark index ending a volatile session at 16,721 levels – up a modest 0.1% or 23 points. In broader markets, the Nifty shed 23 points to close at 4,999 levels.
Leading the pack of losers among the BSE 30 scrips was cement major ACC. The stock tanked 5.5% on the back of the company posting dismal Q1 results. The profit dipped 2% due to rising cost of coal and a state-enforced price curb. Net income fell to Rs3.58 billion in the three months ended March 2008. However, sales jumped 8% to Rs17.96 billion.
Tata Steel, Reliance Energy, Reliance Communications, ONGC, ITC Ltd, Grasim Industries, Cipla Ltd and Bharti Airtel were some of the other notable losers.
The markets also gave thumbs-down to Maruti Suzuki’s results. The company reported a 34% dip in net profit for Q4FY08 to Rs298 crore owing to a more stringent depreciation policy adopted voluntarily by the company from 2007-08. The stock at Rs746 levels ended lower by 2%.
However, Wipro Ltd, Satyam Computer, Reliance Industries, Larsen and Toubro, ICICI Bank, Hindustan Unilever, HDFC and Jaiprakash Associates ended firm.
Among sectoral indices, the metal index was among the key losers that slipped over 1%. Welspun Gujarat, Tata Steel, Shree Precoated Steels, Nalco, Jindal Stainless, Ispat Industries, Gujarat NRE Coke and Bhushan Steel were the top losers in this space.
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First Published: Thu, Apr 24 2008. 04 06 PM IST
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