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Markets trim gains by close

Markets trim gains by close
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First Published: Mon, Aug 25 2008. 04 19 PM IST
Updated: Mon, Aug 25 2008. 04 19 PM IST
New Delhi: The markets trimmed most of their gains by close with the BSE benchmark index settling at 14,450 levels, up a modest 0.3% or 49 points.
The Sensex touched a high of 14,672 levels in intra-day deals. Similarly, the 50-issue NSE index ended 8 points higher at 4,335 levels.
”Expiry of derivative contracts on 29 August is expected to keep the markets choppy. For Nifty, key supports are seen at 4,250 and 4,168 levels while the major resistance is pegged at 4,415 levels,” said Alex Mathew, Head Research, Geojit Financial Services Limited.
Other Asian markets ended firm as lower oil prices and strong gains on Wall Street improved overall sentiment.
Hong Kong’s Hang Seng Index surged 3.5% to 21,104.79 levels — its biggest one-day advance in around five months. Tokyo’s benchmark Nikkei 225 index also rallied 1.7% helped partly by improving sentiment in the dollar.
Back home, leading the pack of gainers among the Sensex scrips was HDFC. The counter moved up 3.6% or Rs83 by close. DLF Limited, Grasim Industries, Satyam Computer, Mahindra and Mahindra, ICICI Bank and Bharti Airtel were some of the other notable gainers.
However, metal counters witnessed sell-off with Gujarat NRE Coke and Hindustan Zinc slipping over 2.2%. Tata Steel, Sesa Goa, SAIL, Ispat Industries, NMDC Limited and JSW Steel also ended weak.
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First Published: Mon, Aug 25 2008. 04 19 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE |