Sensex

Thursday, October 11, 2007

$$ DreamGains !! $$ FW: Sharekhan Post-Market Report dated October 11, 2007

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 11 October 2007 15:16
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated October 11, 2007

 

 

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October 11, 2007

 

Index Performance

Index

Sensex

Nifty

Open

18,696.62

5,438.90

High

18,832.65

5,532.75

Low

18,536.97

5,424.25

Today's Cls

18,814.07

5,524.85

Prev Cls

18,658.25

5,441.85

Change

155.82

83.00

% Change

0.84

1.53

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Power Grid

114.15

11.04

Bongaigaon Refinery

68.00

9.68

VSNL

543.30

8.43

IDFC

184.80

7.66

M&M

813.85

7.62

Losers

Satyam Computer

447.95

-7.50

Infosys

1,976.00

-6.99

HCL Tech

312.25

-5.35

TCS

1,071.90

-4.72

Hexaware

120.90

-3.40

Market Statistics

-

BSE

NSE

Advances

1,347

629

Declines

1,383

491

Unchanged

75

28

Volume(Nos)

50.27cr

57.16cr

 Market Commentary 

Sensex recovers in late rally

Sustained buying in auto, capital goods, and metal stocks helped the Sensex bounce back from lower levels and end on a higher note.

The market recouped its lost ground in noon trades and rallied sharply thereafter, after a fall of about 91 points to the day's low of 18,537. The market was quiet in  

 

early trades as the second quarter performance of Infosys Technologies disappointed investors. IT stocks, which rallied over the past couple of sessions expecting the technology bellwether to surprise, were beaten down. However, the market trimmed losses as the trading progressed and zigzagged between positive and negative territory in late morning trades before taking a dip on renewed selling. The index shrugged off its bearish trend towards the closing hours and surged to another record high of 18,833 on healthy buying in auto, capital goods, and metal stocks. The Sensex finally ended 156 points higher at 18,814, while the Nifty gained 83 points to close at 5,525.

Among the sectoral indices the PSU index led the upsurge with gains of 3.094% at 8,778 followed by the BSE CG index (up 2.75% at 17,088), the BSE Auto index (up 2.69% at 5,604) and the BSE Metal (up 2.69% at 14,833). The market breadth was neutral. Of the 2,805 stocks traded on the BSE 1,347 stocks advanced, 1,383 stocks declined and 75 stocks ended unchanged.

Movers & Shakers

  • Maruti Udyog gained after it formed a joint venture company with Suzuki Motor and Magneti Marelli to produce electronic control units (ECU) for diesel engines.
  • Larsen &Toubro surged on entering into an agreement with Malaysia-based Tamco Corporate Holdings to acquire its de-merged switchgear business.
  • Bharati Shipyard slipped despite receiving order from Shipping Corporation of India to supply four ships worth Rs351 crore.


Out of the 30 Sensex stocks, 23 managed to end in the green while seven stocks ended with losses. M&M registered solid gains and soared 7.62% at Rs814. ONGC jumped 5.66% at Rs1,066, Grasim shot up by 4.14% at Rs3,800, BHEL advanced 3.89% at Rs2,421, ACC moved up by 3.46% at Rs1,260, L&T added 3.40% at Rs3,487 and Hindalco gained 3.26% at Rs176. Among the laggards Satyam Computer dropped 7.50% at Rs448, Infosys shed 6.99% at Rs1,976, TCS declined by 4.72% at Rs1,072, Wipro fell 2.99% at Rs488 and Cipla slipped 1.14% at Rs191, while Dr Reddy's Lab and Bajaj Auto closed with marginal losses. 

Over 5.25 crore Power Grid Corporation shares changed hands on the BSE followed by Reliance Natural Resources (2.11 crore shares), IFCI (1.99 crore shares), Reliance Petroleum (1.72 crore shares) and Ispat Industries (1.23 crore shares).

Reliance Industries registered a turnover of Rs604 crore on the BSE followed by Power Grid Corporation (Rs581 crore), Infosys (Rs483 crore), Reliance Capital (Rs386 crore) and Reliance Communication (Rs336 crore).

European Indices at 16:15 IST on 11-10-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6689.30

56.30

0.85

CAC 40 Index

5867.86

29.37

0.50

DAX Index

8039.67

53.10

0.66

Asian Indices at close on 11-10-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

17458.98

281.09

1.64

Hang Seng

29133.02

563.69

1.97

Kospi Index

2058.85

17.73

0.87

Straits Times

3875.77

61.32

1.61

Jakarta Composite Index

2638.21

46.73

1.80

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