MTNL, cement steal show - Views on News from Equitymaster

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MTNL, cement steal show

Jan 24, 2001

The BSE Sensex closed at 4,328 (up 31 points) and the NSE Nifty closed at 1,367 (up 12 points). The rupee was trading at Rs 46.37 to a dollar.The major thrust came from MTNL on expectation of good 3QFY01 results. The company is slated to declare results tomorrow. The stock closed up 7.7% and pushed the sensex up by 12.9 points. The uptrend in oil stocks saw Reliance Petro go up by 1% which pushed the index up by 4.2 points. The infotech majors Infy (up 0.8%) and Satyam (up 2.1%) contributed 8.9 points to the Sensex's surge. The general up trend in cement sector helped ACC gain 7.7% today. This translated into over 3 points gain in the Sensex.

NIIT's lower than expected results pushed the sensex down by 5.7 points today. The stock was down (6.6%). After yesterday's rise Zee was down 2.3%, thus contributing to a 3.6 points fall in the BSE Index.

To find out an estimate of the contribution each of these stocks made to the gain in the Sensex, check out our Sensitivity analyser.

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