After opening with a positive gap of 39 points at 14,122, the Sensex exhibited lacklustre movement in morning trades. A fresh round of selling in noon trades saw the index break the psychological level of 14,000, and drop to a low of 13,947.
However, renewed buying interest mainly in heavyweights Tata Steel, Reliance and ICICI Bank helped the index recover losses and rebound into the positive zone. Aggressive buying with some short-covering saw the index rally to a high of 14,153 - up 206 points from the day's low.
The Sensex finally ended with a gain of 48 points at 14,131.
The market breadth is negative - out of 2,581 stocks traded, 1,678 declined, 823 advanced and 80 were unchanged today.
MOVERS & SHAKERS
ACC zoomed 5.5% to Rs 807. Grasim surged 2% to Rs 2,395, and Gujarat Ambuja was up nearly 1% at Rs 110.
Tata Steel rallied 4% to Rs 603. ICICI Bank and Reliance advanced 2% each to Rs 919 and Rs 1,700, respectively.
Tata Steel rallied 4% to Rs 603. ICICI Bank and Reliance advanced 2% each to Rs 919 and Rs 1,700, respectively.
HDFC and Hero Honda were up 1% each at Rs 1,781 and Rs 706, respectively.Satyam plunged nearly 4% to Rs 478. Dr.Reddy's and Maruti slipped around 2% each to Rs 611 and Rs 719, respectively.
Tata Motors, Reliance Communications and Cipla declined around 1.5% each to Rs 641, Rs 498 and Rs 208, respectively.NTPC, HDFC Bank and Hindalco were down 1% each at Rs 153, Rs 1,087 and Rs 159, respectively.
VALUE & VOLUME TOPPERS
Reliance topped the value chart with a turnover of Rs 176.65 crore followed by Nitin Fire (Rs 130 crore), Reliance Communications (Rs 99.40 crore), SBI (Rs 94.75 crore) and Tata Steel (Rs 82.70 crore).
G V Films led the volume chart with trades of around 1.25 crore shares followed by Reliance Natural (93.30 lakh), S.Kumars (66.65 lakh), IFCI (62.20 lakh) and IKF Technologies (55.90 lakh). (from Business Standard)
DLF IPO:
The mega initial public offer of realty giant DLF, through which the developer is expecting to garner Rs 9,625 crore, on Tuesday got fully subscribed. The IPO got subscribed 1.04 times on its second day of offer, receiving 18.27 crore bids for 17.5 crore equity shares on offer, latest data available on the stock exchanges shows. Besides, 23,13,020 bids were received at cut-off price, the data shows. The issue had received bids for 78 per cent shares yesterday, when the IPO opened for subscription. The Qualified Institutional Buyers (QIB) portion constituting of Foreign Institutional Investors, domestic financial institutions and Mutual Funds was subscribed 1.28 times the shares reserved for them on the first day itself.
Vishal Retail IPO:
The initial public offering of Vishal Retail Ltd. has received a lukewarm response with the issue subscribed just 0.07 times. As per the National Stock Exchange web site, out of the total issue of 47,82,609 shares, bids for 3,25,375 shares have been received and of this 2,79,150 shares are at cut-off price. (Economic Times)
