| | Index Performance | Index | Sensex | Nifty | Open | 14,129.89 | 4,168.90 | High | 14,189.21 | 4,180.90 | Low | 13,912.92 | 4,109.70 | Today's Cls | 13,934.27 | 4,117.35 | Prev Cls | 14,078.21 | 4,150.85 | Change | -143.94 | -33.50 | % Change | -1.02 | -0.81 | | | Market Indicators | Top Movers (Group A) | Company | Price (Rs) | % chg | Gainers | Colgate Palmolive | 396.45 | 12.69 | Jindal Stainless | 162.60 | 6.27 | Aditya birla Nuvo | 1,219.55 | 6.04 | IndusInd Bank | 47.80 | 5.75 | SCI | 227.30 | 5.57 | Losers | United Phosphorus | 309.40 | -6.20 | Ramco System | 150.65 | -3.65 | Geometric Software | 119.50 | -3.59 | BPCL | 334.65 | -3.43 | Century Enka | 140.00 | -3.11 | | Market Statistics | - | BSE | NSE | Advances | 1,130 | 598 | Declines | 1,453 | 824 | Unchanged | 84 | 30 | Volume(Nos) | 29.22cr | 53.58cr | | | | | Market Commentary | | Heavyweights, oil stocks drag down market | The weakness in heavyweight, oil and capital goods stocks saw the Sensex shed 144 points during the day. | The market sentiment was high after the smart gains of over 200 points yesterday. The Sensex opened on a positive note with a gap of 52 points on the back of firm | | | international markets and selective buying in cement, metal and banking stocks. The Finance Bill was passed by the Lok Sabha yesterday, with the finance minister modifying the dual excise duty structure on cement to bring in a 12% ad valorem duty in place of the specific duty of Rs600 per tonne. This generated significant buying interest in cement stocks in the early trades. As the market players started profit booking among the front-line stocks, the Sensex slipped in to the red. The market remained range-bound with a negative bias thereafter. The lower-than-expected inflation number at 5.77% for the week ended April 22 lifted the market sentiment in the afternoon, causing the Sensex to enter into positive territory again. However, the strong bout of selling in heavyweight, oil and capital goods stocks dragged the Sensex down to the day's low of 13913. The Sensex finally ended the session with a loss of 144 points at 13934. The Nifty ended the session at 4117, down 34 points.
The market breadth was weak. Of the 2,667 stocks traded on the BSE, 1,453 stocks declined, 1,130 stocks advanced and 84 stocks ended unchanged. Among the sectoral indices the BSE Oil & Gas index shed 1.26% at 7245, while the BSE CG index declined 1.26% at 8242. The BSE CD index was the major gainer and moved up 2.08% at 3801.
Select heavyweights declined on strong selling pressure. HDFC slipped 2.66% at Rs1,634, Reliance Industries dropped 2.50% at Rs1,583, L&T fell 2.50% at Rs1,698, Bharti Airtel shed 1.95% at Rs818, ICICI Bank lost 1.92% at Rs855, Satyam Computer declined 1.70% at Rs470, BHEL dipped 1.58% at Rs2,496 and TCS slumped by 1.23% at Rs1,274. Among the select gainers, Cipla advanced by 2.72% at Rs217, Hindalco added 1.54% at Rs148 while ACC, ONGC, Reliance Energy, Bajaj Auto, SBI, Dr Reddy's Lab and HDFC Bank gained marginally.
Select oil stocks came under selling pressure. BPCL slipped 3.43% at Rs335, IOC declined 1.43% at Rs442, Essar Oil lost 0.96% at Rs56, HPCL fell 0.73% at Rs278 and Reliance Petroleum was down 0.12% at Rs81. In the capital goods segment, Astra Micro, Areva, Jyoti Structures and Greaves Cotton were down over 2-3% each.
Select consumer goods stocks, however, attracted buying support. Videocon surged 6.03% at Rs447, LLyod Electric moved up by 2.12% at Rs154, Gitanjali Gems added 0.75% at Rs200 and Blue Star gained 0.62% at Rs227.
Over 3.94 crore IFCI shares changed hands on the BSE followed by Nagarjuna Fertilizers (1.35 crore shares), Himachal Futuristic (1.35 crore shares), Reliance Natural Resources (1.19 crore shares) and Tata Teleservices (1.10 crore shares).
Value-wise India Bulls registered a turnover of Rs377 crore on the BSE followed by Reliance Industries (Rs242 crore), IFCI (Rs185 crore), Tech Mahindra (Rs159 crore) and India Bulls Real Estate (Rs141 crore). | | | | | | | | European Indices at 16:15 IST on 04-05-2007 | | | Index | Level | Change (pts) | Change (%) | FTSE 100 | 6597.90 | 60.10 | 0.92 | CAC 40 Index | 6033.18 | 28.90 | 0.48 | DAX Index | 7499.86 | 23.17 | 0.31 | | | | | | | | | | | Asian Indices at close on 04-05-2007 | | | Index | Level | Change (pts) | Change (%) | Hang Seng | 20841.08 | 159.50 | 0.77 | Kospi Index | 1567.74 | 7.88 | 0.51 | Straits Times Index | 3485.76 | 35.12 | 1.02 | Jakarta Composite Index | 2033.37 | 7.72 | 0.38 | | | | | | | | | | | “This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report. The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (“SHAREKHAN and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN.” | To unsubscribe write to myaccount@sharekhan.com
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