Sensex hits new high, closes on a flat note

Mumbai, Jan 2 | Updated: Jan 3 2006, 07:00am hrs
The benchmark Sensex started 2006 on a good note by hitting a new intra-day high of 9,457.09 on the first trading day of the new year. However, with most of the global markets closed, the Indian bourses lacked direction and ended the day on a flat note.

The 30-share Sensex lost 7.79 points to close at 9,390.14. The broader S&P CNX Nifty of the National Stock Exchange (NSE) ended almost unchanged at 2,835.95. However, the market breadth was quite strong with 1,836 stocks gaining ground on BSE, much higher than losers at 699.47 stocks ended the day on a flat note.

The strong market breadth was primarily due to the gains witnessed in mid-cap and small-cap stocks. Both, BSE Midcap and BSE Smallcap indices, gained more than 1% each on Monday.

The turnover on BSE and NSE was lower at Rs 2,811.42 crore and Rs 5,128.76 crore, respectively.

FIIs were net buyers in the cash market at Rs 526.90 crore on Friday, bringing the net FII investments for CY05 to $10.8 billion - the highest ever in any single calendar year. Among the Sensex stocks, Tata Motors led the losers pack at Rs 639.35, shedding 2.09%. Bharti Tele-Ventures, Hero Honda Motors and Dr Reddys Labs all lost nearly 2% on Monday.

ITC, NTPC, Satyam Computers, HDFC and HLL also closed in the red. On the other hand, ICICI Bank, Hindalco Industries, ONGC, HDFC Bank, Bhel, Reliance Industries Ltd (RIL), Reliance Energy and Bajaj Auto were some of the stocks that closed in the black.