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Global markets gives support to Indian markets on Monday

August 1st, 2011

Thanks to the positive news from global markets, the Indian stock markets managed to close the first day of the week in the green.

Sensex closed the day at 18314.33 up 117.13. The Nifty closed the day at 5516.8 up 34.80. The CNX Midcap Index ended just above the 8000 mark at 8007.35 down 10 points. The BSE Smallcap index is down 21.7 points at 8283.88.
Ranbaxy is up 4.48% in today’s trade. Other leading gainers are Larsen & Toubro, IDFC, Tata Steel and Power Grid, all up over 2%. On the losers end is SAIL that saw investor selling after poor quarterly numbers. SAIL closed the day at 119.90 down 5.1%. Other losing stocks are Reliance Capital, Jindal Steel, Sesa Goa, Sterlite amongst others.

Shree Cements (BSE: 500387 | NSE: SHREECEM | ISIN: INE070A01015) has a bad quarterly numbers but surprisingly the markets didn’t punish the script much today. The script had managed to close at 1789.60 amidst sharp moves post the numbers are out during the latter part of the day. Net profits reduced by 48% YoY. The profits declined to Rs. 55 crores from Rs. 105.9 crores compared to the corresponding period in the last year. The net sales too feel by 9.5% while expenditure increased by 16% largely due to hike in raw material costs.

Entry Filed under: Equity Markets, Closing Bell, Cement