The State Bank of India included into the Fortune 500 club during Om Prakash Bhatt’s ongoing five-year tenure as chairman. He is proud of the fact that not only did he get SBI there, but the bank has also getting success in market stock price and market capturization via branch establishments.

However, there is something about that list which bothers him. He points out that he is the lowest-paid CEO on the Fortune 500 list. (The SBI chairman’s compensation in the last financial year was Rs 27 lakh, while on an average a Fortune 500 CEO earns at least $10 million or Rs 47 crore a year).

By his own admission , he cannot afford to retire on the pension of SBI. “I need to work to support my family,” he says rather humbly over coffee in his rather spacious 18th floor office in Mumbai’s central business district — Nariman Point

Mumbai: After a fluctuating session, Indian stock market gave a good sign and the Sensex ended  with moderate gains on the last day of  August F&O expiry day. Capital goods,FMCG sector remains profitable where as profit booking is seen in oil,consumer durable,realty sector. First half was in positive but in next half it dips in red, at last it closed in positive with a high of 18,261.06 and low of 18,159.13.

At the close, the benchmark 30-share index, BSE Sensex added 46.71 points or 0.26% at 18,226.35 with 18 components posting rise. Meanwhile, the broad based NSE Nifty climbed by 15.55 points or 0.28% at 5,477.90.

Sensex Movers: ITC contributed rise of 18.4 points in the Sensex. It was followed by State Bank Of India (15.29 points), Housing Development Finance Corporation (13.1 points), NTPC (9.27 points) and Larsen & Toubro (7.46 points).

However, Reliance Industries contributed fall of 26.74 points in the Sensex. It was followed by H D F C Bank (7.35 points), Infosys Technologies (5.24 points), Hindustan Unilever (4.13 points) and Sterlite Industries (India) (3.87 points).

Nifty Movers: NTPC (2.22%), D L F (2.14%), I T C (1.68%), State Bank Of India (1.47%), Housing Development Finance Corporation (1.30%), and Bharti Airtel (1.28%).

On the other hand, Reliance Communications (2.35%), Sterlite Industries (India) (1.23%), Reliance Industries (1.18%), Hindustan Unilever (1.08%), Jaiprakash Associates (0.91%), and Reliance Energy (0.86%) were the biggest losers in the Sensex.

Indian BSE benchmark Sensex index ended marginally higher and increased by 23 points to 18,167.03.

Stock market ended higher due to back of rise in interest rate related stocks–realty, consumer durable, banking and auto segments.

Market rise due to improvements of monsoon rains, heavy buying of foreign funds and strong sales in the of July and August starting. In the July month.

Banking stocks gained after India’s largest commercial bank State Bank of India reported strong Q1 June 2010 results.

According to report, shares of SBI hit a record high above Rs 2,800-level to end at Rs 2,849.40 by gaining 8.75% after the Parliament approved a bill enabling the government to reduce its holding in State Bank of India to 51% and help it to raise capital.

Indian market gained momentum today as European markets where on positive opening.

At 2:56 National Stock Exchange CNX Nifty was at 5472.70 up by 33.45 points or 0.61%. The index touched the high of 5473.60 and went to 5433.25 as low point.

At 2:59 BSE sensex was at 18,255.70 up by 117.68 points or 0.63 %. BSE Midcap was at 7614.36 points up by 78.65 or 1.04%.

Top gainer of Nifty included Unitech (3.88%), DLF (3.51%), ICICI Bank (3.26%), Power Grid (2.66%) and Reliance Communications (2.43%).

While top losers were Cairn India (-1.05%), HDFC Bank (-0.69%), Cipla (-0.50%), GAIL (-0.50%) and Sun Pharma (-0.47%).

European markets were up following the buying in commodities.

India’s largest steel maker company Steel Authority of India Limited (SAIL) has reported Q1 2010 Results today on Friday 30 July.

SAIL reported net profit is declined by 11.5% at Rs. 1,117 crore for first quarter ended 30 June.

SAIL said net profit is declined due lower sales and high input cost. Company reported Rs 1,330.4 net profit for same quarter last year.

SAIL Chairman C.S. Verma said, “In the first quarter, the input cost was up by 42-45% than the year-ago period. Our sales in terms of volume was down by 0.46 million tonnes at 2.32 million tonnes.

“Besides this, there was a performance related pay to our employees for the last three years, which amounted to Rs 299 crore. This has also reflected in our results,” he added.

Verma also added, “Our average sales realization improved in the first quarter to Rs 34,000 a tonne as compared to Rs 31,000 a tonne a year-ago.”