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Indian stock market daily closing report (November 18, 2009)

November 18, 2009, Wednesday, 12:29 GMT | 07:29 EST | 17:59 IST | 20:29 SGT
Contributed by Nirmal Bang


By Nirmal Bang

 

The benchmark index ended 51 points lower at 16,998 after trading in a narrow range of 16,958 and 17,098. On the NSE, Nifty ended almost flat at 5,055 down 7 points. The broader indices outperformed the benchmark indices - the BSE Midcap Index was up 0.3% and the Smallcap was up 0.8%. The breadth in the broader markets was however positive but total volumes were lower compared to yesterday at 88,476 cr. Metal and IT stocks posted some gains today.


The BSE metal index rose 1.2 % led by gains in Ispat Industries and JSW Steel. The stocks rose over 4 % each. JSW Steel ended up 4 % at Rs 965. Tata Steel was up 1.6% and Jindal Saw was up 2%.


The IT index on the BSE was up 0.7 %. Infosys rose 1.5 % to Rs 2,433 and Polaris Soft up 1%.


Shipping stocks also surged today after the Baltic Dry Index rose to new highs. Essar Shipping jumped 11.5 % and Mercator Lines was also up 7.8 %.


Oil & gas and banking stocks ended lower today. The oil & gas index was down 0.8 %. HPCL, IOC, Reliance Ind was down 1.5-2.3%.


In the capital goods space L&T declined 1.72%, Bhel and Punj Lloyd was down 0.19-0.56%


In the banking space, Bank of Baroda, Kotak Mahindra and ICICI Bank fell over 1.4 % each.


In the Sensex pack, Tata Motors was the top gainer. The stock was up 3.1 % at Rs 646. Tata Steel, ITC and Infosys gained over 1.5 % each.


Reliance Infra, however, was the biggest loser. The stock shed 3.2 % to finish at Rs 1,150. L&T, ICICI Bank and RIL lost over 1.4 %.