Wednesday, April 16, 2008

Post Market Commentary-16-April-08

Market extends gains as heavyweights rise

The 30-share BSE Sensex rose 90.53 points or 0.56% at 16,244.19. The Sensex gained 260.14 points at day�s high of 16,413.80, hit in early trade.

The S&P CNX Nifty rose 7.65 points or 0.16% at 4887.30.

Rallis India galloped 5.82% to Rs 432.50 after the company reported 115.40% surge in net profit to Rs 125.19 crore on 7.60% rise in net sales to Rs 692.15 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).

Reliance Industrial Infrastructure was locked at upper limit of 5% at Rs 999.85 after posting 52.4% rise in net profit to Rs 6.43 crore on 38.6% rise in sales to Rs 18.92 crore in Q4 March 2008 over Q4 March 2007.

In the calendar year so far, FIIs sold shares worth a net Rs 11720.90 crore (till 15 April 2008), to offset their huge losses in the US sub-prime mortgage market.

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