It was a jerky session on Dalal Street. After a hopeful beginning, the indices came below a session of profit booking and trimmed off the majority of the day’s gains. The Nifty ended flat at 4,620 points after gaining just 1.40 points, whereas the Sensex ended the day at 15,795, up 63 points.

The stock markets closed on a flat note after a quite impulsive session. The boarder markets ended in the red with a weak breadth. In the F&O section, the return was the highest ever at Rs 64,281 crore.

IT, capital goods and IT stocks - Reliance Energy, Satyam, BHEL, NTPC, and HDFC Bank ended the day in the green, ended higher. But, selling pressure was seen in auto, FMCG, and pharma stocks.

The 30-share index opened unenthusiastically and trading weak. Select stocks from IT led the advancements while auto, cement, telecom and banking led the declines.

Asian markets also turned down in the early sessions on fears of the rejection in the housing demand in USA.

Bharat Thakur, assistant manager, Karvy stock broking told that some profit booking is expected to take place today. He is confident on power sector and commends Reliance Energy and HDFC for trading.

Ambareesh Baliga of Karvy Stock Broking is of the view that investors wi

Cipla dipped 4.4% to Rs 192 after declaring a 30% fall in net earnings for the first quarter ended June 30, 2007.

The stock hit an intraday low of Rs 191.70 and an intraday high of Rs 199.85 during the day.

The scrip turned down on high volume of 21.1 lakh shares on the BSE counter.

The company recorded a 30% fall in its net profit to Rs 120 crore in Q1 June 2007 as against in the corresponding period (Q1 June 2006) of the last year.

Mumbai: Drug manufacturer Cipla posted a 29.73 percent enhancement in its net earnings at Rs 119.76 crore for the quarter ended June 30 as against Rs 170.43 crore for the same period of the last year.

The company’s total income (net of excise) augmented 4.34 per cent to Rs 920.37 crore for the June quarter against Rs 882.05 crore for the quarter ended June 30, 2006.

At the board meeting, the company’s directors also recommended a dividend of Rs 2 per equity share for the year 2006-2007 amounting to Rs 155.46 crore.

Shares of Cipla last traded at Rs 200.90, down 2.21 per cent on the BSE.

According to Bharat Thakur, assistant manager, Karvy Stock Broking the stock market is likely to lift up further on coming Monday (July 16).