Markets recover; Sensex up 124 pts

News Flash

Net sales up 8.67% at Rs.259.5cr vs Rs.238.8cr (QoQ)
Q1 PAT up 22.3% at Rs.17cr vs Rs.13.9cr (QoQ)
Watch CEO Exchange At 8:30 Sat & Sun
Board approves 1:10 bonus issue
Vishal Info Tech IPO closes; Subscribed 1.19 times
Inflation and IIP not moving in tandem: CMIE
Expect inflation to come down but very gradually
Mfg products & primary inflation still remain an issue
Inflation at 11.89% slightly below expectations
Oil & Gas Index up 1.5%, Realty Index up 0.6%
Power Index down 2%, Bankex down 1.8%
Metal Index down 2.9%, IT Index down 2.8%
Midcaps Index down 0.3%, Smallcap Index down 0.2%
Sensex down 1.1%, Nifty down 1% at close
Machine and machine tools up 0.2%
Fruits and vegetables up 2%
Inflation at 11.89% for week ended July 12 vs 11.91%
Non-Food articles up 0.8%; Food articles up 0.6%
Fuel, Power, Lights remain unchanged
Manufactured products up 0.05%
Inflation for week ended May 17 revised to 8.66%
Inflation remains stable: Finance Ministry
Good performance despite challenging environment
RIL Q1 Exports up 112% at Rs.28,357 cr (YoY)
RIL Q1 Other income up 14.7% at Rs.226cr vs Rs.197cr (YoY)
RIL Q1 EPS up 13.2% at Rs.28.3 vs Rs.25 (YoY)
RIL Q1 GRMs at $15.70/bbl vs $15.40/bbl (YoY)
PAT up 13.2% at Rs.4110 cr vs Rs.3630 cr (YoY)
Sales up 41% at Rs.41,579 cr vs Rs.29,504 cr (YoY)
Q1 PAT at Rs.263 cr vs Rs.308.5 cr (YoY) (cons)

Updated: 12/05/2008 | 03:52 PM IST

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Bijay S Patel

Monday, May 12, 2008 (Mumbai)

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Markets closed firm on Monday with the Sensex gaining 0.7 per cent or 124 points. It closed at 16,860 levels.

In the broader markets, Nifty was in green territory by 0.6 per cent and it closed at 5012 levels.

Buying was evident in IT, oil & gas, banking and healthcare counters by over 0.6 per cent each.

“The markets would be choppy and range-bound and so the investors should be cautious,” said R Swaminathan, Vice-President & National Head of Mutual Fund, IDBI Capital.

The other Asian markets closed mixed on Monday. While South Korea's Kospi closed in the red by 1.3 per cent, Japan's Nikkei was in green territory by 0.6 per cent.

Ranbaxy Laboratories at Rs 495 gaining 5.4 per cent or Rs 26 was the biggest gainer among the BSE-30 scrips. Other major gainers in this pack were Satyam Computer, ITC, Housing Development Finance and Reliance Communication.

IT surges

The BSE IT index gaining 1.5 per cent or 63 points was the biggest gainer among the sectoral indices. Mphasis, Satyam, Tech Mahindra and NIIT Tech were the major gainers in this pack.