Traders greet New Year with 155-pt bonus
By siliconindia   |   Wednesday, 03 January 2007, 18:30 IST
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Mumbai: The New Year started in style for traders witnessing a 155-point bonus with strong auto sales numbers and domestic institutional buying. The BSE –30 sensex saw two consecutive loss-making sessions during the last week of 2006. But then it showed positive signs as it gained 1.13 per cent or 155.33 points to end at 13,942.24. In the case of S&P CNX Nifty, the day closed at 4,007.40, up by 1.03 per cent. Nifty crossing the 4,000-mark-up saw shares generally trading in positive territory for the entire day. The major gainer in the game was the BSE Auto index with top companies posting good sales numbers. Auto index ended 3.22 per cent higher at 5,696.04 points. The Auto stocks showed impressive numbers registering positive gains. Bajaj Auto was up 4.58 per cent at Rs 2,738.75, Maruti Udyog gained 4.52 per cent at Rs 969.25, Tata Motors moved up 3.29 per cent at Rs 929.90 and Hero Honda joined in with a 2.86 per cent rise at Rs 784.15. All sectoral indices ended in green. The BSE IT and Teck index ended higher by 1.83 per cent and 1.38 per cent, respectively. Adding to this Ravindra Kasliwala, Head - Equity, Inventure Growth and Securities informs, "Markets are expecting good corporate results in Q3 and Infosys results next week will provide the direction to markets." Dealers said there has been high open interest in Nifty futures with a majority being in IT stocks expecting good Q3 tidings from IT companies. The dealers further felt that if the hopes are belied it could be a cause of concern for the markets. The general feeling among dealers was that no major correction should take place before the Infosys results. On the other hand Kasliwala added, "Sensex may touch 14,200 levels before the results begin."

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