Market opens on a firm note

At 10:21 IST, the 30-share BSE Sensex was up 76.06 points or 0.43% at 17,089.17. Sensex hit a high of 17,114.56 in early trade. At the day’s high, Sensex rose 98.6 points.

The broader based S&P CNX Nifty was up 16.05 points or 0.32% at 5,105.70.

The market breadth was strong on BSE with 1030 shares advancing as compared to 551 that declined. 44 remained unchanged.




The BSE Mid-Cap index rose 0.54% to 7105.49 and BSE Small-Cap index rose 0.58% to 8,760.41.

Banking stocks rose. State Bank of India (up 1.29% to Rs 1,759) and HDFC Bank (up 0.66% to Rs 1,527.95) edged higher. India’s largest private sector bank by assets ICICI Bank rose 0.53% to Rs 899.95.

Auto Stocks edged higher. India’s largest tractor maker by sales Mahindra & Mahindra (up 0.73% to Rs 639.90), Maruti Suzuki India (up 0.87% to Rs 729.70), Hero Honda Motors (up 0.23% to Rs 820), Tata Motors (up 1.01% to Rs 640) edged higher.

Relaty stocks were mixed. Indiabulls Real Estate (down 0.91% to Rs 535.90) and Unitech (down 1.01% to Rs 290.55) edged lower. Lanco Infratech (up 1.76% to Rs 496.70) and DLF (up 0.61% to Rs 672.60) edged higher.

Tata Steel (up 3.51% to Rs 805), Hindalco Industries (up 1.5% to Rs 189), Jaiprakash Associates (up 1.51% to Rs 254.95), ACC (up 0.74% to Rs 772.50) edged higher from Sensex pack.




Hindustan Unilever declined 0.32% to Rs 246.75. Net profit of Hindustan Unilever declined 3.04% to Rs 380.95 crore on 19.14% rise in sales to Rs 3793.94 crore in Q1 March 2008 Q1 March 2007. The board of the company has approved the change in the financial year to April-March

Reliance Communications declined 0.48% to Rs 582 while Bharti Airtel fell 1.12% to Rs 918. Reliance Communications said on Monday, 28 April 2008, it would offer unlimited national long distance calls within its network for a fixed rental with immediate effect. Earlier yesterday, sector leader Bharti Airtel slashed long distance and roaming tariffs by 43% effective 30 April 2008.

Alok Industries advanced 2.31% to Rs 71. The company’s board has approved issue and allotment of 98 lakh equity shares of the face value of Rs 10 each for cash at a premium of Rs 92 per share, to Jiwrajka Associates, a part of the promoter group. It also approved hiving-off its retail business to the company's wholly subsidiary company Alok Homes & Apparels.




Sesa Goa rose 3.75% to Rs 3,860.20. Sesa Goa said on Monday, 28 April 2008 it would split its shares giving shareholders 10 shares for each existing share, and after the split would make a one-for-one bonus issue of shares. Sesa Goa reported 216.37% surge in net profit to Rs 798.30 crore on 116.21% increase in sales to Rs 1669.97 crore in Q4 March 2008 over Q4 March 2007.

State Trading Corporation of India rose 1.27% to Rs 417. Net profit of State Trading Corporation of India rose 125.04% to Rs 44.67 crore on 14.28% rise in sales to Rs 4255.98 crore in Q4 March 2008 over Q4 March 2007.

Titagarh Wagons rose 0.7% to Rs 680. Titagarh Wagons reported net profit of Rs 60.57 crore on sales of Rs 559.64 crore in the year ended March 2008.




Finolex Cables rose 0.95% to Rs 69.05. Net profit of Finolex Cables rose 13.14% to Rs 9.99 crore on 44.83% increase in sales to Rs 423.21 crore in Q4 March 2008 Q4 March 2007.

Celestial Labs rose 5.72% to Rs 43.45. Net profit of Celestial Labs rose 222.78% to Rs 2.55 crore on 56.33% rise in sales to Rs 4.94 crore in Q4 March 2008 Q4 March 2007.

Shiv-Vani Oil & Gas Exploration Services rose 4% to Rs 591. Net profit of Shiv-Vani Oil & Gas Exploration Services rose 109.25% to Rs 19.23 crore on 118.42% rise in sales to Rs 137.19 crore in Q4 March 2008 over March 2007.