Not another manic Monday

Not another manic Monday

India Infoline News Service / Mumbai Feb 15, 2008 18:27

Bulls would look to continue the momentum on Monday given the scenario in equity markets across the globe.

On Friday bulls extended their gains to third straight trading session tracking firm cues from the Asian and European markets also buying momentum in the large cap stocks towards the end lifted the nifty index to close above the 5,300 mark. Finally, the 30-share Sensex closed at 18,115 surging 348 points. The NSE Nifty closed at 5,302 adding 100 points. Overall about 1,988 stocks advanced, 759 stocks declined while 46 stocks remained unchanged. Among the BSE 30 index 25 stocks advanced while 5 stocks declined. Igarashi Motors rallied by over 13% to Rs77 after the company announced that it agreed to venture with Robert Bosch. The scrip touched an intra-day high of Rs78 and a low of Rs68 and recorded volumes of over 86,000 shares on NSE. Refinery stocks continue to be in demand as Government hiked petrol and diesel prices by Rs2 per litre and Re1 per litre respectively. IOC surged by 4.5% to Rs561, HPCL gained 3.5% to Rs309 and BPCL added 1% to Rs469. Telecom stocks also ended with gains. Report stated that DOT planned to change spectrum usage charges levied on telecom companies, to a fix percentage of revenue for each category circles. Rcom gained 0.5% to Rs612, Bharti Airtel gained 0.6% to Rs882, Idea advanced 3.5% to Rs112 and Tata Communication added 1.1% to Rs508. Hanung Toys gained 3% to Rs204 after the company announced that it opened their first Retail store for soft toys in Delhi on February 14, 2008. The scrip touched an intra-day high of Rs209 and a low of Rs191 and recorded volumes of over 12,000 shares on NSE. Bhushan Steel was down 0.3% to Rs1035. The company announced that it proposed to execute MOU with wholly owned Undertaking / Govt. of Madhya Pradesh for setting up manufacturing facilities in the state of Madhya Pradesh for 1 MTPA Coke Oven Plant and 5 MTPA Cement Plant, with the total investment of approximately Rs40bn in phases. The scrip touched an intra-day high of Rs1055 and a low of Rs988 and recorded volumes of over 43,000 shares on NSE. Cadila gained 1.7% to Rs251 after the company announced that it introduced an NDDS product 'Nudoxa' for the treatment of various cancers. One of the critical drugs used in chemotherapy, Nudoxa heralds a new approach in cancer therapy. With chemotherapy being a common mode of treatment in cancers, there has been a long standing need for a drug that is stable and long lasting with reduced toxicity and side effects. The scrip touched an intra-day high of Rs254 and a low of Rs245 and recorded volumes of over 6,000 shares on NSE.