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Indian stock market daily closing report (November 6, 2009)

Contributed by Nirmal Bang

By Nirmal Bang

The Nifty ended higher for the third consecutive day on the back of buying in banking & financial, metal, realty and oil & gas stocks along with L&T. It remained above the 4,800 mark in the first half of trade but could not hold that level in the second half of trade due to volatility.

Banking stocks like SBI rose 3%. PNB and Axis Bank gained 2% each. Bank of Baroda went up 1.5%. HDFC Bank and ICICI Bank were up 0.5-0.8%.

In the metal space, Tata Steel, Jindal Saw, Sterlite Industries, NALCO and SAIL moved up 1.3-3%. Hindalco was up just 0.44%.

Realty was another sector, which was seen buying interest. Unitech, DLF and Indiabulls Real gained 1.5-2.4%.

In the auto pack, Ashok Leyland, Apollo Tyres, Bharat Forge and M&M gained 1-3.8% while Hero Honda, Tata Motors and Maruti Suzuki fell 1-2%.

In the telecom pack, Idea Cellular tumbled 5.51%. Tata Teleservices went down 1.10% and MTNL was down 0.69% while Bharti and Reliance Communication were flat.

Selling was seen in FMCG and cement stocks. HUL, United Spirits and ITC declined 1.5-2% in the FMCG space while in the cement pack, Ambuja Cements lost 2.4%. Grasim and ACC fell 0.4-0.6%.