Sensex ends down 165 points
Tuesday, 18 May 2010
MUMBAI, May 17 (Business Standard): The Sensex has ended (provisional) at 16,829 - down 165 points. The Nifty has ended (provisional) down 37 points at 5,057.
Engineering major, Larsen & Toubro, has pushed markets towards the path of recovery in late-noon trades.
Markets have recovered smartly from the lows of the day as L&T announced its Q4 results. The Sensex is now at 16,860 - down just 134 points. Earlier in the day, the index had touched a low of 16,551. The Nifty after dropping below the 5,000 mark has regained some strength and is now down 23 points at 5,070.
Among the sectoral indices the capital goods index has gained 2.8 per cent to 13,601. The realty, oil and IT sector, however, are still in red.
Larsen & Toubro has jumped 4.5 per cent to Rs 1,598. The company reported quarterly profit rose 44 per cent, beating market estimates, on the back of a pickup in order execution. Net profit rose to Rs 14.38 billion in its fiscal fourth quarter ended March from Rs 9.99 billion a year ago.
Hindustan Unilever has gained 2.3 per cent at Rs 239. SBI and Bharti Airtel have added around 1 per cent each.
Meanwhile, realty stocks remain soft. DLF has shed 4 per cent to Rs 287. Jaiprakash Associates has dropped 2.8 per cent to Rs 126. Reliance Infrastructure has slipped 2.3 per cent to Rs 1,001.
Engineering major, Larsen & Toubro, has pushed markets towards the path of recovery in late-noon trades.
Markets have recovered smartly from the lows of the day as L&T announced its Q4 results. The Sensex is now at 16,860 - down just 134 points. Earlier in the day, the index had touched a low of 16,551. The Nifty after dropping below the 5,000 mark has regained some strength and is now down 23 points at 5,070.
Among the sectoral indices the capital goods index has gained 2.8 per cent to 13,601. The realty, oil and IT sector, however, are still in red.
Larsen & Toubro has jumped 4.5 per cent to Rs 1,598. The company reported quarterly profit rose 44 per cent, beating market estimates, on the back of a pickup in order execution. Net profit rose to Rs 14.38 billion in its fiscal fourth quarter ended March from Rs 9.99 billion a year ago.
Hindustan Unilever has gained 2.3 per cent at Rs 239. SBI and Bharti Airtel have added around 1 per cent each.
Meanwhile, realty stocks remain soft. DLF has shed 4 per cent to Rs 287. Jaiprakash Associates has dropped 2.8 per cent to Rs 126. Reliance Infrastructure has slipped 2.3 per cent to Rs 1,001.