Sensex finishes higher in volatile session

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 01/07/2009 | 04:23 PM IST

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NDTV Correspondent and Agencies

Wednesday, July 01, 2009 (New Delhi)

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The benchmark index gained 151 points to close at 14,645 in a choppy session in which it traded between 14,355 and 14,727. Investors were edgy ahead of the budget and the gains were capped due to selling pressure at higher levels.

“Markets are seeing a cooling off as some investors are taking the profits off the table before the budget. In case the markets approach the budget in an overheated fashion, the chances of the markets coming down drastically are far more,” said Gajendra Nagpal, CEO of Unicon Financial Intermediaries.

The overseas cues for the Indian markets were mixed. European stock markets were higher in early trade as investors started the third quarter with mild optimism following some upbeat economic data, but Asian markets were only mixed after a disappointing Japanese business survey.

Though the Purchasing Managers’ Index (PMI) for India in June was a tad lower at 55.3, from 55.7 in May 2009, the reading still indicated that the manufacturing sector was on a recovery path. A reading of 50 indicates expansion as compared to the previous month.

Realty, banking and auto stocks led the gains on the bourses today. The BSE realty index surged 4.2 per cent on gains in IBREL, DLF and Unitech. IBREL soared 7.2 per cent to Rs 209.

The BSE bankex advanced 1.3 per cent and the auto index gained 1.2 per cent. The oil & gas index on the BSE closed 1.1 per cent higher.

In the 30-share Sensex pack, 25 stocks rose while the remaining counters ended lower. DLF was the top gainer in the pack, up 4.7 per cent to Rs 325. M&M, Reliance Infra and RCom were the main gainers in the pack. The stocks rose more than 2.9 per cent today. Hindalco, however, was the biggest loser in the group. The stock fell 3.5 per cent to Rs 83.

Areva T&D India rose 7.9 per cent to end at Rs 363 after its parent said that it will sell its T&D operations across the globe. Shipping Corporation of India jumped 7.3 per cent to Rs 133 after the shipping minister said the government will examine divestment in the company.

Elsewhere in the Indian markets, the action was focused on stocks that investors hope could see some support from the budget. State-run oil marketing companies HPCL and BPCL rose 4-5.5 per cent on hopes the Union Budget 2009-2010 may include a roadmap for decontrolling fuel prices in the country.

Education sector was buzzing ahead of budget. NIIT, Educomp, Aptech and Everonn Sys rose between 9.6 per cent and 15 per cent.

The early gains in Europe came after closely watched manufacturing surveys for both the 16 countries that use the euro and for Britain raised hopes that growth may emerge later this year. The purchasing managers index — a gauge of business activity — for the euro zone's manufacturing sector rose for the fourth month running to 42.6 in June from May’s 40.7. The equivalent index for Britain spiked to a 13-month high of 47 in June from 45.4 in May.

Two surveys earlier suggested that Chinese manufacturing expanded slightly in June in a sign that the world's third-largest economy is slowly rebounding from the collapse in global trade. Despite the improving signals out of China, which helped the Shanghai Composite index to rise 1.7 per cent to 3,008.15 — its first close above the symbolic 3,000 level since June 12, 2008 — Asian stock markets ended were mixed after a weaker than expected "tankan" business survey from the Bank of Japan. After climbing as much as 1 per cent, Japan’s Nikkei 225 index fell 18.51 points, or 0.2 per cent, to close at 9,939.93.