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Indian stock market daily closing report (November 17, 2009)

Contributed by Nirmal Bang

By Nirmal Bang

The markets ended flat after a volatile and choppy session. Buying was seen in IT and banking stocks while oil & gas and realty stocks witnessed selling pressure. The Sensex gained 18 points to end at 17,050 after trading in a narrow zone of 17,080 and 16,882. On the NSE, Nifty ended at 5,062 up 4 points after trading in the range of 5,072 – 5,010. The market breadth was neutral and the total traded volumes remained lower.

The IT index on the BSE rose 2 %. In the IT space, TCS rose 3.6 % to Rs 3.6 %. Mphasis gained 2.3 % and Infosys rose nearly 2 %.

The metal index was up 0.4 %. Jindal Saw, SAIL, Sesa Goa, Hindalco, Tata Steel and Sterlite Industries went up 0.5-2%.

The realty index on the BSE fell 1.2 % led by losses in HDIL and Ansal API. The stocks shed over 3 % each. Orbit Corp was up at 8%.

The BSE oil & gas index was down 0.7 %. ONGC lost 2.29%. BPCL, Reliance Ind and HPCL lost 0.4-1%

In the banking space, HDFC Bank rose 1.47% and Kotak Mahindra gained 0.80%. Bank of Baroda, SBI and Axis Bank ended marginally in the green.

In the power segment Reliance Infrastructure rose 1.9%, Suzlon Energy, NHPC and GVK Power were up 0.3-0.9%.

In the Sensex pack, TCS was the top gainer, up 3.6 %. Hero Honda closed 2.4 % higher at Rs 1,679.

ONGC and ACC were the major losers in the group down over 2 % each.