Sensex

Tuesday, May 29, 2007

$$ DreamGains !! $$ FW: Sharekhan Post-Market Report dated May 29, 2007

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 29 May 2007 17:24
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated May 29, 2007

 

 

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May 29, 2007

 

Index Performance

Index

Sensex

Nifty

Open

14,418.98

4,257.60

High

14,530.15

4,298.85

Low

14,372.07

4,248.90

Today's Cls

14,508.21

4,293.25

Prev Cls

14,397.89

4,256.55

Change

110.32

36.70

% Change

0.77

0.86

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Tata Elxsi

360.30

10.15

GE Shipping

289.55

10.07

PFC

163.65

9.06

Concor

2,268.90

8.64

Birla Corporation

257.20

7.19

Losers

Adani Enterprises

212.25

-9.99

Castrol India

286.30

-7.47

Alfa Laval

1,155.60

-2.85

VSNL

448.75

-2.68

National Fertilisers

29.90

-2.61

Market Statistics

-

BSE

NSE

Advances

1,357

557

Declines

1,213

493

Unchanged

102

36

Volume(Nos)

26.86cr

42.68cr

 Market Commentary 

Market regains as capital goods surge

The Sensex maintained its upward bias for the third straight session and gained 110 points to close above 14500.

Despite getting mixed signals from Asian markets the Sensex resumed on a positive note at 14419, up 21 points. But it soon lost momentum as traders took to profit  

 

booking  and touched the day's low of 14372. The market gained momentum in the mid-morning trades after a hectic upsurge in capital goods, consumer durables and oil stocks that lifted the Sensex to positive territory. The buying remained stock-specific thereafter as investors remained on the sidelines, expecting a further fall. As trading progressed, the mood turned extremely buoyant in the afternoon on hectic buying in select large cap stocks and the Sensex touched the intra-day high of 14530. Buying was also seen in a number of mid-cap and small cap stocks. Buoyancy among heavyweights towards the close ensured that the Sensex moved past the 14500 mark and ended the session with a surge of 110 points at 14508. The Nifty rose 36 points to close at 4293.

The breadth of the market was positive. Out of a total of 2,672 stocks traded on the BSE today, 1,357 stocks posted gains, 1,213 stocks were down in the red and 102 stocks remained unchanged. Among the sectoral indices, the BSE CG index jumped 2.81% at 10,896 followed by the BSE HC index (up 1.70% at 3858), the BSE CD index (up 1.59% at 3943) and the BSE Oil & Gas index (up 1.19% at 7793).

Movers & Shakers

  • Flawless Diamond gained after an agreement with "The Bombay Store" to open several outlets for sale of its “AUM” brand of jewellery.
  • 3i Infotech moved up on acquiring a 50.5% stake in AOK in-house BPO Services and AOK in-house Factoring Services Pvt Ltd.
  • Tantia Constructions flared up on receiving projects worth Rs178 crore from CPWD.
  • Tata Steel closed in the green on signing a memorandum of understanding with Vietnam Steel Corporation for the proposed steel project in Ha Tinh province in Vietnam.
  • Elder Pharmaceuticals gained marginally on entering into an agreement with Cymbiotics of USA for marketing their pharmaceutical formulations.

Barring a few select counters, most of the heavyweights ended at higher levels. Among the blue chips, Cipla shot up by 4.95% at Rs219, BHEL soared 4.86% at Rs2,856, L&T surged 4% at Rs1,857, Ranbaxy advanced by 2.17% at Rs390, Reliance communication added 2.05% at Rs521, Reliance Industries moved up 1.85% at Rs1,755, HDFC Bank scaled up 1.78% at Rs1,145 and SBI was up 1.22% at Rs1,322. Among the laggards, HDFC dropped 1.72% at Rs1,813 and Gujarat Ambuja Cement shed 1.03% at Rs115 while NTPC, Infosys, ITC, Maruti Udyog, Bajaj Auto and ICICI Bank closed marginally lower.

Capital goods stocks were in the limelight and closed with strong gains. Reliance Industrial Infrastructure vaulted 5% at Rs499, Crompton Greaves soared 4.54% at Rs251, Carborundum Universal surged 4.14% at Rs173 and Lakshmi Machine Works advanced by 3.93% at Rs2,755. 

Over 1.83 crore Reliance Natural Resources shares changed hands on the BSE followed by IFCI (96.70 lakh shares), NOCIL (87.59 lakh shares), Orbit Corporation (84.79 lakh shares) and Sunflag Iron & Steel (74.32 lakh shares).

Orbit Corporation clocked a turnover of Rs208 crore on the BSE followed by Unitech (Rs150 crore), Reliance Industries (Rs149 crore), Advanta (Rs129 crore) and India Infoline (Rs122 crore). 

European Indices at 16:20 IST on 29-05-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6593.70

23.20

0.35

CAC 40 Index

6069.95

-1.52

-0.03

DAX Index

7778.23

39.03

0.50

Asian Indices at close on 29-05-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

17672.56

84.97

0.48

Hang Seng

20469.59

-60.17

-0.29

KOSPI Composite

1661.80

3.89

0.23

Straits Times Index

3527.08

13.71

0.39

Jakarta Composite Index

2058.74

-18.02

-0.87

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