The markets pared gains at close as realty, metals fell apart, however, the Reliance group stocks ended on a firm note following the Ambani brothers truce. The Indian bourses today pared all its gains and slipped into the red towards the end of the trading session owing to weakness in the metal and realty stocks. European markets which started 1% higher later slipped into the red and turned out to be the sentiment dampner.

Had it not been for the contribution of Reliance (60 points on the Sensex), the markets would have ended in the negative territory

The markets surged in early trades as index heavy weight Reliance Industries and Anil Ambani group (ADAG) shares soared after the Ambani brothers truce. They agreed to cancel all non-compete agreements and work in harmony. The Sensex opened at 16,494 and within few minutes of trading the NSE Nifty crossed the 5,000 mark barrier. Buying was seen in almost all the sectors while the Reliance group stocks were the major gainers.

However towards the end of the trading session even though the markets fell apart and slipped into the red to 16,413, down almost around 345 points from the day’s high, the Reliance group stocks managed to hold their gains.

Mukesh Ambani controlled Reliance Industries ended 2.5% higher at Rs 1,021 and Reliance Industrial Infrastructure soared over 11% to Rs 784. Among the ADAG pack, Reliance Natural Resources zoomed 23% to Rs 55. Reliance Infrastructure (6%), Reliance Capital (4%), Reliance Communications (10%) and Reliance Power (8%), respectively.

The Sensex finally ended at 16,469, up 24 points and the NSE Nifty ended 12 points higher at 4,943.

Hero Honda, Larsen & Toubro were the other major gainers, up 1% each.

While on the other hand Hindalco Industries dropped 4% to Rs 145. It was followed by Grasim Industries, DLF, Mahindra & Mahindra, HDFC and Maruti Suzuki, down over 2% each.

The market breadth was positive, out of 2,928 shares traded, 1,675 advanced and 1,154 declined on the BSE.

All the sectoral indices, barring metal and realty stocks ended in the green. The oil&gas index added 2% at 9,839 while realty index slipped 2%, respectively.

Anant Raj Industries and HDIL dropped over 2.5% each to Rs 108 and Rs 208, respectively on the realty index.

The BSE midcap ended flat and the smallcap index was up 0.5% each.

VALUE & VOLUME TOPPERS

Adani Enterprise topped the value chart on the BSE with a turnover of Rs 309.81 crore. It was followed by Piramal Healthcare (Rs 260.05 crore), Reliance Industries (Rs 131.75 crore), RNRL (Rs 131.40 crore) and Reliance Infrastructure (Rs 129.22 crore).

RNRL led the volumes chart on the BSE with trades of 24.16 million shares. It was followed by Birla Power (14.29 million), Sanraa Media (8.20 million), Unitech (5.87 million) and Adani Power (5.61 million) shares on the BSE.

Source: Business Standard

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