Sensex fails to sustain 18k

The Sensex opened on a positive note at 17,916 on the back of global cues. The benchmark index continued to exhibit strength owing to buying in the realty and cement shares.

The index passed the psychological 18,000 level tracking firm Asian cues in mid-morning trades and touched a high of 18,048-highest level in more than 25 months.

The Sensex however was not able sustain the momentum and wiped off all the gains to touch a low of 17,878, down 170 points from the day's high.

The index towards the end of the trading session finally recovered and ended at 17,970, up 29 points. The NSE Nifty shut shop at 5,374, up eight points.

The Midcap and the smallcap indices outperformed the Sensex, up 0.5% each on the BSE.

Apollo Tyres and Pipavav Shipyard gained 11% each at Rs 81 and Rs 85, respectively on the midcap index.

Aegis Logistics and Shipa Medicare were the major gainers on the smallcap index, up 16% each.

Among the sectoral indices, auto , oil&gas and realty indices added 1% each on the BSE. Apollo Tyres zoomed 11% to Rs 81. It was followed by MRF and Bharat Forge, up 4% on the auto index

The market breadth was fairly positive, out of 2,971 shares traded, 1,675 advanced and 1,212

declined on the BSE.

INDEX MOVERS. . .

Grasim Industries, Tata Motors and ACC were the major gainers on the Sensex, up around 3% each at Rs 2,894, Rs 793 and Rs 974, respectively.

Reliance Infrastructure, Maruti Suzuki, Bharti Airtel and ITC were the other major gainers, up 1-2% each.

. . .AND THE SHAKERS

Hindustan Unilever and Sun Pharma were down 2% each at Rs 225 and Rs 1,792, respectively.

ICICI Bank, Jaiprakash Associates and Mahindra & Mahindra slipped 1% each on the BSE.

VALUE & VOLUME TOPPERS

Axis Bank topped the value chart on the BSE with a turnover of Rs 247.23 crore. It was followed by Reliance (Rs 95 crore), Tata Steel (Rs 66.93 crore), DLF (Rs 60.86 crore) and NMDC (Rs 58.31 crore).

Shree Ashtavinayak led the volume chart on the BSE with trades of 42.71 million shares. It was followed by Birla Power (13.25 million shares), NHPC (12.73 million), Ballarpur Industries (12.36 million) and Pipavav Shipyard (10.35 million).