Sensex

Tuesday, October 23, 2007

$$ DreamGains !! $$ FW: Sharekhan Post-Market Report dated October 23, 2007

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 23 October 2007 15:17
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated October 23, 2007

 

 

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October 23, 2007

 

Index Performance

Index

Sensex

Nifty

Open

17,910.30

5,185.30

High

18,542.41

5,488.50

Low

17,910.30

5,176.85

Today's Cls

18,492.84

5,473.70

Prev Cls

17,613.99

5,184.00

Change

878.85

289.70

% Change

4.99

5.59

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Bank of India

314.80

22.28

LIC Home Finance

269.45

19.15

Reliance Capital

1,752.15

14.19

Micro Inks

401.30

13.38

Kotak Bank

949.80

13.21

Losers

GMDC

2,045.00

-3.20

Asahi India

103.40

-1.85

Mphasis

294.05

-1.57

ING Vysya Bank

261.00

-1.12

Geometric Software

84.25

-1.12

Market Statistics

-

BSE

NSE

Advances

2,089

953

Declines

658

170

Unchanged

51

21

Volume(Nos)

34.03cr

55.58cr

 Market Commentary 

Bulls strike back; Sensex up 879 points

The market rallied sharply and closed marginally below the 18,500 mark due to sharp appreciation in capital goods, oil, and banking stocks.

After a subdued trend in last few sessions, the market staged a solid comeback today. The market rallied sharply, making up for the lost ground, after the  

 

Securities and Exchange Board of India (SEBI) clarified its position to foreign fund investors on participatory notes. The bulls were back in action after closing flat yesterday. The Sensex took cues from buoyant international markets and resumed 296 points above its previous close at 17,910 on the back of strong buying in heavyweights, capital goods, oil, and banking stocks. The buoyancy propelled the Sensex to the day's high of 18,542 by the afternoon. The Sensex finally closed with a gain of 879 points at 18,493. Nifty advanced 290 points to close at 5,474.

The market breadth was highly positive, with the gainers outpacing the losers in the ratio of 3.10:1 on the Bombay Stock Exchange (BSE). Of the 2,798 stocks traded on the BSE, 2,089 stocks advanced, 658 stocks declined and 51 stocks ended unchanged. All the sectoral indices notched up significant gains. The BSE CG index was the biggest gainer and soared by 7.76% followed by the BSE PSU index (up 7.01%), the BSE Metal index (up 6.65%), the BSE Oil & Gas index (up 6.55%), the BSE Realty index (up 6.38%), the BSE Bankex index (up 5.91%) and the BSE FMCG index (up 4.08%).

Barring few, all the stocks in the Sensex basket ended at higher levels. BHEL led the upsurge and flared by 11.54% at Rs2,294. Among the other major gainers Reliance Energy surged 11.18% at Rs1,523, NTPC moved up by 8.84% at Rs217 and Bharti Airtel advanced 8.38% at Rs1,005. Reliance Industries vaulted 7.83% at Rs2,601, L&T shot up by 7.53% at Rs3,331, HDFC Bank added 7.42% at Rs1,474 and Cipla rose 7.24% at Rs193. However, TCS, Ambuja Cement, Wipro, HDFC and Infosys slipped marginally.

Capital good stocks were the star attraction during the day and rallied sharply. Punj Lloyd soared 13.08% at Rs387, Crompton Greaves jumped 10.29% at Rs365, Suzlon Energy added 9.84% at Rs1,741 and AIA Engineering gained 8.50% at Rs1,262. 

Over 1.80 crore Reliance Natural Resources shares changed hands on the BSE followed by Power Grid Corporation (1.63 crore shares), Unitech (1.38 crore shares), Tata Teleservices (1.26 crore shares) and IKF Technologies (1.16 crore shares).

Unitech was the most actively traded counter on the BSE and registered a turnover of Rs447 crore followed by Reliance Energy (Rs396 crore), United Breweries (Rs366 crore), Reliance Industries (Rs297 crore) and Reliance Capital (Rs235 crore).

European Indices at 16:15 IST on 23-10-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6538.90

79.60

1.25

CAC 40 Index

5711.14

49.87

0.88

DAX Index

7844.08

49.22

0.63

Asian Indices at close on 23-10-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

16450.58

12.11

0.07

Hang Seng

29376.86

1003.23

3.54

Kospi Index

1947.98

44.17

2.32

Straits Times

3695.30

52.66

1.45

Jakarta Composite Index

2553.80

100.59

4.10

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