Sensex All Time High.

The Sensex lost territory after reaching a new all time high of 8722.17 points in afternoon trades today. The Sensex opened lower at 8588.47 points, but soon recovered on all round buying interest and headed higher, following the sustained liquidity flow from local mutual funds and FIIs. Sensex has resistance at 8658 and 8703, has support at 8614 and 8582.

FII = Rs.42.50Cr & MF = Rs.200.21Cr  both +ve.

The Dow Jones and the Nasdaq also ended higher yesterday.

The Sensex ended at 8650.17 points, a gain of 44.14 points or 0.51%.

The NSE Nifty ended with a gain of 12.70 points, crossing the 2600-mark, at 2611.20 points.

The low for the day was 8588.47 points.

The Sensex has seen an intra-day swing of 135 odd points today amidst a high degree of volatility.

The Sensex has seen a lot of choppiness today on account of expiry of derivative contracts for the month of September 2005.

The BSE Midcap Index ended lower by 0.5% and the BSE Small Cap index was down sharply, by 1.88%.

Sectorally, the BSE PSU index was down 0.08%, the BSE Bankex was down by 0.42%, the BSE Metal index was down 0.22%, the BSE FMCG index was down 0.91% while the BSE Auto index finished higher by 0.6% and the BSE IT index rose by 1.4%.

Total turnover for the day amounted to Rs 4,236 crore, much higher than yesterday's turnover of Rs 3,685 crore.

The advance-decline ratio was weak at close to 1:5, with 418 shares closing higher and 2,152 lower. 22 shares remained unchanged . Most of the stocks that declined were small cap stocks.

Among Sensex stocks, 15 closed in the green and 15 in the red.

Cipla was the biggest gainer in the Sensex, up 5.02% to Rs 381, on volumes of 3.73 lakh shares.

BHEL followed with a gain of 4.55% to Rs 1,213, on volumes of 1.71 lakh shares.

Gujarat Ambuja Cements climbed 2.15% to Rs 75.55 on volumes of 15.94 lakh shares.

Satyam Computers added 1.6% to Rs 550.55 on volumes of 26.83 lakh shares.

HDFC was the biggest loser, down 2.75% to Rs 1,010, on volumes of 1.29 lakh shares.

Ranbaxy followed with a decline of 2.5% to Rs 496.30 on volumes of 2.34 lakh shares.

HPCL was down 1.67% to Rs 318.55 on volumes of 1.02 lakh shares.

FCS Software topped turnover, with Rs 317.26 crore, followed by Reliance Industries, with Rs 229.64 crore, and Mc Dowell, with Rs 184.88 crore.

Counters like PSL, Vardhman Industries, Jindal Saw, Hindustan Construction, Rasoi, Nahar Industries, Ferro Alloys, Fortis Financial, Akar Tools, Asian Hotels, Nanda Exim, Kanchan International and Jayant Agro were all gainers, in a range of 9% to 13%.

Gujarat Intrux, Moving Picture, Tera Software, FCS Software, Morgan Industries, Shetron, Ruchi Strips and Sarang Chemicals, were all down 10% each.

Notable block deals of the day were in Amtek Auto (1.60 lakh shares at Rs 279 per share), Federal Bank (1.51 lakh at Rs 186.30 per share), Gujarat Ambuja Cements (4.02 lakh shares at Rs 76.65 per share), ING Vysya Bank (2.50 lakh shares at Rs 186.50 per share), LIC Housing (1.50 lakh shares at Rs 202.75 per share), TVS Motors (6.90 lakh shares at Rs 91.50 per share) and Tata Teleservices (Maharashtra) (5.66 lakh shares at Rs 33.20 per share).

Cement scrips advanced further today on expectations of a hike in cement prices post monsoon. Cement prices may rise by Rs 5 per bag as per a print media report.

The rise was across the board - OCL India jumped 6% to Rs 160.05, and Gujarat Ambuja Cements (GACL) gained 2.16% to Rs 75.55.

ACC gained 2.13% to Rs 488, Birla Corporation gained 4.52% to Rs 251, India Cements gained 1.6% to Rs 109.60, and Shree Cement gained 1.06% to Rs 466.

ONGC hit a new high of Rs 1,100 in afternoon trades. Finally the counter ended at Rs 1,068.25 on huge volumes of 6.63 lakh shares. ONGC has announced that its overseas arm ONGC Videsh has been selected by PetroVietnam as the winner for Block 127 in the Phu Khanh Basin with 100% participating interest and operatorship.

Reliance Industries also hit a new high of Rs 813.50. It closed 0.94% higher at Rs 807.85. The company denied reports that it may consider a stock split earlier today.

Few stocks, that were suspended due to non compliance with the clauses of the listing agreement with effect from Tuesday 04 October 2005, were frozen at the lower circuit filter - Diamond Cables Golden Carpets, Kaiser Press, Master Trust, NK Industries, Polar Pharma India, Punjab Wool Combers, Wisec Global all slumped 5% each as there were no buyers on such counters. Saptarishi Agro Industries was down 1%. Vadilal Enterprises was down 10%.

IFSL plunged 10% to Rs 24.35 and Minal Engineering lost 5% to Rs 258.20 after Sebi banned the promoters of the companies from trading in their own shares suspecting manipulation in the stock prices.

SBI Home Finance was down 5% for the second day, after the stock exchanges suspended trading in the scrip from 5 October 2005.

Hindustan Construction jumped 10.35% to Rs 1101 after the company’s board announced a sub-division of each equity share of Rs 10 of the company into 10 equity shares of Re 1 each.

L&T advanced 4.8% to Rs 1543.80 on renewed buying on the back of strong order flow and healthy order book position of Rs 17,800 crore at the end of Q1 June 2005.

Indian Rayon and Industries added 1.8% to Rs 621.10. The company acquired 371.8 million equity shares of Idea Cellular, representing 16.45% of the latter’s paid-up equity, for a total price of US$ 150 million, from Cingular Wireless, USA.

Gail (India) was up 1.55% to Rs 262 after drew up plans to acquire a mid-sized upstream company as a backward integration move. Gail has also plans to participate in the multi-billion dollar transnational gas pipeline project in Europe.

CESC was down 1% to Rs 224.15. The company has completed an overseas offering of Global Depositary Shares (GDS) for an amount of US$ 40 million at a price of US$ 5.0473 per GDS comprising 1 equity share of Rs 10 at a price of Rs 222.

Ramco Systems ended lower by 1.02% to Rs 456.90. It announced bagging an order from Mohan Clothing Company, known for the Blackberrys brand in the men's apparel industry.

Greenply Industries lost 2.9% to Rs 78. The company is setting up its fourth manufacturing greenfield facility at a cost of Rs 80 crore at the Pantnagar Industrial Estate in Udhamsingh Nagar district, Uttaranchal.

GR Cables slumped 6% to Rs 13.95 even after winning a Rs 51-lakh order for its new range of power cables and electrical accessories for housing projects from different customers.

Kotak Mahindra Bank was down 0.3% to Rs 203.55. The banks’ board of directors approved a proposal to issue up to 1.50 crore equity shares either in the domestic or international market. The proposed issue shall constitute around 5% of the current paid-up capital of the bank.

Dr Reddys Laboratories climbed up 3.25% to Rs 838 after it entered into a co-development and commercialization agreement with Denmark based Rheoscience A/S.

Natco Pharma ended lower by 2% to Rs 125.75. The company allotted 72,561 equity shares of Rs 10 each at a conversion price of Rs 121 per share to Jermyn Capital Partner Plc.

Rana Sugars jumped 5.62% to Rs 32.90 ahead of its board meet on 05 October 2005 to consider a GDR issue.

Helios & Matheson Information Technology edged higher by 1.66% to Rs 416 after the company said it proposes to invest Rs 75 crore for expansion in the state of Tamil Nadu.

Bajaj Auto was firm by 1.44% to Rs 1670 on reports that the company targets to sell more than 2 lakh two-wheeler and three-wheeler vehicles in the month of September 2005.

Amtek Auto was up 1.7% to Rs 279 after it informed BSE that the board of directors of the company at its meeting held yesterday has converted FCCBs of US$ 9 millions into 18,73,944 equity shares of the company of Rs 2 each at a premium of Rs 207.83.

Noida Toll Bridge ended 1.4% higher to Rs 33 after the company informed BSE that the board of directors at its meeting held yesterday decided to proceed with the formalities regarding the rights issue.

JB Chemicals & Pharmaceuticals firmed up 0.6% to Rs 91.50 after the company announced that it has received final approval from the office of Generic Drugs, Food and Drug Administration (US FDA), to manufacture and market Fluconazole tablets in the US market.

A block deal of 10,000 shares was executed on Gujarat Gas counter at Rs 1070 per share.

Escorts hit a high of Rs 114 after the company on Wednesday sold its equity stake in Escorts Heart Institute and Research Centre to the Ranbaxy controlled Fortis Healthcare for Rs 585 crore. It closed down 4% to Rs 103.35.

Britannia Industries jumped 8.21% to Rs 1,310.50 after hitting a high of Rs 1453.30. The stock spurted on the back of block deals of about 2.75 lakh shares on BSE and NSE at a price of Rs 1,280 – a 5.6% premium to Wednesday’s (28 September) closing price of Rs 1,211.10.

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