Sensex

Friday, March 16, 2007

$$ DreamGains !! $$ FW: Sharekhan Post-Market Report dated March 16, 2007

 


From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: Friday, March 16, 2007 5:41 PM
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated March 16, 2007

 
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March 16, 2007
Index Performance
Index

Sensex

Nifty
Open 12,570.52 3,639.35
High 12,638.78 3,683.60
Low 12,316.10 3,573.85
Today's Cls 12,430.40 3,608.55
Prev Cls 12,543.85 3,643.60
Change -113.45 -35.05
% Change -0.90 -0.96
 

Market Indicators
Top Movers (Group A)
Company Price 
(Rs)
%
chg

Gainers

Tata Motors 749.45 3.25
IOB 97.50 3.12
Gujarat Gas 1,350.00 3.02
Orchid Chemicals 248.90 2.28
BPCL 300.05 2.16

Losers

Godrej Consumer 139.15 -5.50
Suzlon Energy 964.35 -5.43
Syngenta 445.00 -5.39
Century Textiles 507.25 -4.61
Dabur India 84.70 -4.56
Market Statistics
- BSE NSE
Advances 817 334
Declines 1,738 983
Unchanged 64 41
Volume(Nos) 17.47cr

27.50cr

 Market Commentary 
Market slips, sheds 113 points
Heavy selling in capital goods, consumer durables and banking stocks triggered a major sell-off in the market and the Sensex shed nearly 1% during the day.
The market opened in positive territory despite negative Asian indices led by the buying in metal and pharma stocks. However the Sensex came off    
its high on substantial selling in heavyweight, telecom and capital goods stocks and slipped into the red. After wiping out the early gains of 68 points, the market remained weak throughout the session. The Sensex slipped further in the afternoon on reports of a rise in the inflation rate and touched a low of 12316, down 323 points from the day's high. There was buying at lower levels and the Sensex managed to pare some losses towards the close and end the session at 12430, down 113 points. The Nifty shed 35 points and closed at 3609.

The breadth of the market was negative. Of the 2,619 scrips traded on the BSE, 1,738 stocks declined, 817 stocks advanced and 64 stocks ended unchanged. Except the BSE Oil & Gas Index all the sectoral indices of the BSE ended in negative territory. The BSE CG Index shed 2.60% at 8335. The BSE Bankex, the BSE Teck Index, the BSE CD Index and the BSE PSU Index were down around 1% each.

Reliance Communications triggered a major sell-off in the market and tumbled 3.52% at Rs377. Among the other major losers L&T dropped 3.03% at Rs1,449, Hero Honda declined 3% at Rs648, BHEL lost 2.57% at Rs1,956, Maruti shed 2.25% at Rs779, Gujarat Ambuja slumped 2.22% at Rs104, Cipla slipped 1.65% at Rs224 and ONGC dipped 1.61% at Rs762. ITC, Infosys, HDFC Bank, Reliance Energy, Bharti Airtel, ICICI Bank, and ACC lost around 1% each. However, Tata Motors managed to report gains of 3.25% at Rs749, Ranbaxy added 1.61% at Rs316, Reliance Industries gained 1.25% at Rs1,230, Dr Reddy's advanced 1.07% at Rs682 and Wipro closed with marginal gains at Rs566. 

Movers & Shakers

  • Gail India slipped despite signing a memorandum of understanding with Reliance Industries for cooperation in the gas sector. 
  • Ranbaxy Laboratories notched up gains on receiving a tentative approval from the US FDA to manufacture and market Zolpidem Tartrate tablets. 
  • Satyam Computer Services declined despite announcing a services and technology collaboration with 7Hills Business Solutions for offering supply chain solutions.
  • Punj Lloyd slipped despite announcing that it will construct UK's first world scale bio-ethanol plant.


Select capital goods stocks took a heavy beating on the bourses. Triveni Engineering tanked 5.84% at Rs50, Areva fell 4.70% at Rs994 and Kirloskar Brothers lost 4.61% at Rs372. 

Over 63.65 lakh Idea Cellular shares changed hands on the BSE followed by Reliance Communications (36.54 lakh shares), SAIL (18.48 lakh shares), ITC (17.64 lakh shares) and Parsvanath Developers (15.22 lakh shares).

Reliance Industries was the most actively traded counter on the BSE with a turnover of Rs152 crore followed by Reliance Communications (Rs138 crore), SBI (Rs78 crore), Idea Cellular (Rs58 crore) and Infosys (Rs57 crore).

European Indices at 17:04 IST on 16-03-2007
Index Level Change (pts) Change (%)
FTSE 100 Index 6114.00 -19.20 -0.31
CAC 40 Index 5357.92 -31.93 -0.59
DAX Index 6545.78 -39.69 -0.60
Asian Indices at close on 16-03-2007
Index Level Change (pts) Change (%)
Nikkei 225 16744.15 -116.24 -0.69
Hang Seng Index 18953.50 -15.94 -0.08
Kospi Index 1427.88 0.95 0.07
Straits Times Index 3068.75 -25.85 -0.84
Jakarta Composite Index 1777.89 1.53 0.09

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