Sensex

Tuesday, June 12, 2007

$$ DreamGains !! $$ FW: Sharekhan Post-Market Report dated June 12, 2007

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 12 June 2007 17:07
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated June 12, 2007

 

 

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June 12, 2007

 

Index Performance

Index

Sensex

Nifty

Open

14,122.33

4,139.70

High

14,153.44

4,166.85

Low

13,946.99

4,100.80

Today's Cls

14,130.95

4,155.20

Prev Cls

14,083.41

4,145.60

Change

47.54

9.60

% Change

0.34

0.23

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Sterlite Optical

237.25

5.61

ACC

806.95

5.56

Abbott India

495.25

4.22

UTI Bank

588.05

4.13

Tata Steel

603.10

4.03

Losers

Rolta India

410.05

-6.69

Exide Inds

47.20

-4.65

Bank of India

188.60

-4.24

Indian Bank

116.00

-4.13

Union Bank

113.85

-4.05

Market Statistics

-

BSE

NSE

Advances

823

310

Declines

1,678

743

Unchanged

80

25

Volume(Nos)

20.36cr

33.76cr

 Market Commentary 

Sensex posts modest gains

Lack of movement in most of the counters caused the market to exhibit a lacklustre trend and close with gains of 48 points.

The market opened marginally up at 14122, tracking mixed global cues. It was quite sluggish opening with low volumes and thin market breadth.  

 

As the trading progressed the Sensex lost its momentum and gave up its early gains on across-the-board selling. The sustained selling in heavyweights, auto and consumer durable stocks dragged the Sensex to the day's low of 13947 by afternoon. The Sensex witnessed some movement in the second half of the trading session. The buying at lower levels in select Sensex stocks helped the index to recover some losses and enter into positive territory. Cement stocks, ACC and Gujarat Ambuja Cement witnessed buying action as the data from the Cement Manufacturers' Association showed an increase of sales by 10.6% to 1,421 million tonne in May. The market rallied sharply towards the close as gains in metal, oil & gas and banking stocks propelled the index to an intra-day high of 14153. The Sensex finally wrapped up the session with gains of 48 points at 14131 and the Nifty closed the session by adding nine points at 4155.

Surprisingly the market breadth was weak, with the losers outnumbering the gainers in the ratio of 2.03:1. Of the 2,581 stocks traded on the BSE 1,678 stocks declined, 823 stocks advanced and 80 stocks ended unchanged. Except the BSE Oil & Gas index, the BSE Metal index and the BSE Bankex most of the sectoral indices ended in negative territory. The BSE Auto index dropped 1.23% followed by the BSE CD index (down 0.96%), the BSE Teck index (down 0.80%) and the BSE IT index (down 0.79%).

Movers & Shakers

  • Satra Properties rallied sharply on proposal to build a 20-storey residential tower at Turner Road, Bandra (W), Mumbai.
  • Diamond Cables hit the upper circuit on receiving Rs75 crore worth of orders from various distribution companies of GUNVL and various private customers.
  • Rajesh Exports slipped despite deciding to initiate the development of five selected properties from the company's existing land bank of 32 properties.
  • L&T gained marginally on receiving contracts from ONGC and SAIL worth Rs991 crore. 
  • EPIC Energy fell despite acquiring the entire business of SRS Engineers, a boutique power electronics & energy conservation firm.
  • Cadila closed in the red despite receiving approvals from the USFDA to market Benzonatate, Naproxen and Amlodipine Besylate tablets.


Among the Sensex stocks, cement stocks logged significant gains. ACC led the surge and vaulted by 5.56% at Rs807, while Grasim soared 2.06% at Rs2395 and Gujarat Ambuja Cement advanced by 0.78% at Rs110. Among the other major gainers Tata Steel scaled up by 4.03% at Rs603, ICICI Bank shot up by 1.90% at Rs919, Reliance Industries vaulted by 1.88% at Rs1,670 and HDFC jumped 1.16% at Rs1,781. Hero Honda, L&T and HLL gained marginally.

Oil stocks were in the limelight. Jindal Drilling & Industries scaled up by 2.85% at Rs666, Castrol surged 2.47% at Rs272, BPCL added 2.40% at Rs346 and HPCL edged higher by 1.17% at Rs277. 

Over 1.25 crore GV Films share changed hands on the BSE followed by Reliance Natural Resources (93.31 lakh shares), S Kumars (66.64 lakh shares), IFCI (62.18 lakh shares) and IKF Technologies (55.86 lakh shares).

Value-wise Reliance Industries registered a turnover of Rs176 crore on the BSE followed by Nitin Fire Protections (Rs130 crore), Reliance Communication (Rs99 crore), SBI (Rs94 crore) and Tata Steel (Rs82 crore).

European Indices at 16:30 IST on 12-06-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6555.00

-12.50

-0.19

CAC 40 Index

5918.96

-21.13

-0.36

DAX Index

7680.57

-25.53

-0.33

Asian Indices at close on 12-06-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

17760.91

-73.57

-0.41

Hang Seng

20636.39

20.90

0.10

Kospi Index

1729.88

13.32

0.78

Straits Times

3561.54

16.08

0.45

Jakarta Composite Index

2108.58

24.55

1.18

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