The Hindu : Business : Mid and small-cap shares extend gains

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Tuesday, Nov 20, 2007
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Business

Mid and small-cap shares extend gains

MUMBAI: The Sensex again ended in the red as frontline stocks continued to get resistance at higher levels even as mid-cap and small-cap shares extended their gains to fifth straight day on Monday on brisk activity.

The mid-cap index gained 218.44 points or 2.57 per cent to end the day at 8730.82 while the small-cap index spurted by 292.16 points or 2.81 per cent to 10672.89.

The Bombay Stock Exchange benchmark Sensex touched the intra-day high of 19971.44 at the outset but later fell back to close at 19633.36, netting a loss of 65 points or 0.33 per cent against Friday’s close of 19698.36.

The S&P CNX Nifty of the National Stock Exchange, however, ended flat at 5907.65 against last close of 5906.85.

Investors have stepped activity in mid-cap and small-cap stocks at the prevailing attractive price levels after a strong two-day surge in these segments, market players said.

Shares of auto, consumer durables, realty, power and healthcare were in keen demand throughout the session.

Rupee ends lower

The rupee surrendered its early gains and showed some signs of weakness before closing at 39.34/35 against the dollar on Monday against 39.32/33 on Friday following sluggish Asian stock markets and slow down in capital inflows.

In fairly active trading at the interbank foreign exchange market, the domestic unit opened strong at 39.26/28 a dollar.

The currency, however, failed to maintain higher levels on expectations of dollar buying by the central bank as well as negative turnaround in equity markets, forex dealers said. — PTI

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