Metals hold ground amid fall

STOCK REPORT

Key indices ended down marginally on Tuesday after a volatile session on profits sales and weak cues from the Asian and European markets.

Asian indices ended down due to profit sales and on reports of US spy satellites having detected signs that North Korea is preparing to test a second nuclear weapon.

The European indices were also down ahead of release of the US government reports that may provide further evidence the world's largest economy is slowing down.

The Bombay Stock Exchange's 30-share Sensex briefly touched its new all-time record high of 12994.45, against Monday's intraday high of 12953.76 points. It ended at 12883.83, down 44.35 points or 0.3 per cent from Monday, after moving between 12819.35 and 12994.45 intraday.

The National Stock Exchange's 50-share Nifty ended at 3716.10, down 7.85 points or 0.2 per cent, after moving between 3691.35 and 3742.50 intraday. Combined turnover on the exchanges was roughly Rs 10,700 crore, as against Rs 10,500 crore on Monday.

The CNX Midcap ended down 0.5 per cent and S&P CNX 500 Index ended down 0.4 per cent. On the BSE, declines led advances 2:1.

Shares of metal companies were major gainers on Nifty due to sharp rise in prices on the London Metal Exchange on Monday on supply concerns.

The BSE Metal Index, up 1 per cent, was the top gainer among BSE indices. Steel Authority of India was up 4 per cent at Rs 86 and Tata Steel was up 1 per cent at Rs 516. Hindalco Industries was up 1 per cent at Rs 183 on expectations of robust second quarter results on Wednesday.

HCL Technologies up 4 per cent at Rs 607 was the top Nifty gainer. The company on Monday reported net profit of Rs 250 crore for July-September, up 49.4 per cent on year. Revenue increased 42.1 per cent to Rs 1,380 crore.

Oil retailers were major laggards after crude oil rose above $60 a barrel on NYMEX on the Opec's output cut meet.