Markets end flat, technology scrips tank

Markets end flat, technology scrips tank
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First Published: Tue, Apr 22 2008. 03 54 PM IST
Updated: Tue, Apr 22 2008. 03 54 PM IST
The markets ended the day flat after a volatile trade with the benchmark closing at 16,783 levels, up a modest 0.3% or 44 points. The Sensex moved in a narrow range of 16,686 – 16,853 levels in intra-day deals. In broader markets, the Nifty closed at 5,049 levels.
Among the BSE 30 scrips, DLF Limited at Rs674 surged over 3.5%. ACC, Ambuja Cements, Bhel, Cipla, ITC Limited, ICICI Bank, Larsen and Toubro, Jaiprakash Associates and ONGC were some of the other notable gainers.
However, technology stocks continued to reel under selling pressure. TCS Ltd tanked over 10% by close. Wipro, Satyam Computer and Infosys Technologies ended in negative turf.
Despite a 7.21% rise in net profit during the January – March 2008 quarter, Ranbaxy Laboratories slipped 2.4% or Rs12 to end the day at Rs487.
In other corporate developments, Biocon board recommended a bonus issue in 1:1 ratio. Reliance Power also got shareholders approval for a 3:5 bonus issue. The markets took note of these developments and the stocks firmed up 0.9% and 1.1% respectively.
Among sectoral indices, the BSE realty index was the top gainer that moved up 3%. Ansal Infrastructure, Omaxe Ltd, Indiabulls Real Estate, Parsvnath Developers, Unitech Limited and Puravankara Projects logged smart gains besides DLF Limited.
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First Published: Tue, Apr 22 2008. 03 54 PM IST
More Topics: Markets | Sensex | Nifty | TCS | Satyam Computer |