Sensex

Tuesday, January 22, 2008

DG - FW: Sharekhan Post-Market Report dated January 22, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 22 January 2008 19:03
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated January 22, 2008

 

 

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January 22, 2008

 

Index Performance

Index

Sensex

Nifty

Open

16,884.09

5,203.35

High

17,068.57

5,203.35

Low

15,332.42

4,448.50

Today's Cls

16,729.94

4,899.30

Prev Cls

17,605.35

5,208.80

Change

-875.41

-309.50

% Change

-4.97

-5.94

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Indian Bank

201.50

8.07

Kotak Bank

1,009.55

4.17

Finolex Cables

92.40

3.13

Nirma

197.00

2.82

Pfizer

659.95

2.77

Losers

Sterlite Tech

157.95

-31.31

Omaxe

224.75

-30.22

Neyveli Lignite

117.80

-28.50

Ispat Industries

33.70

-23.50

Edelweiss Capital

857.90

-23.07

Market Statistics

-

BSE

NSE

Advances

152

82

Declines

2,273

1,068

Unchanged

29

9

Volume(Nos)

38.07cr

80.08cr

 Market Commentary 

Sensex drops 5% amidst high drama

The market erased most of its losses from the early crash, with the Sensex ending 4.97% lower and the Nifty dipping by 5.94% at close.

The market witnessed the biggest carnage today with the trading coming to a halt within minutes of the opening bell following a sharp drop of over 10% on both the Bombay

 

Stock Exchange (BSE) and the National Stock Exchange (NSE). Last time the market was suspended from trading was on October 17, 2007. Against the backdrop of weak Asian indices and yesterday's crash of over 1,400 points, the Sensex witnessed a free-fall and plunged below the 15,500 level to touch an intra-day low of 15,332, down 2,273 points. Following the resumption of trading in mid-morning, the Sensex and the Nifty recovered substantially from their earlier losses. The Sensex and Nifty traded above the 16,500 mark and the 4,800 level respectively after the finance minister issued a statement that there was no problem with the fundamentals of the economy and banks would provide enough liquidity. Finally, the Sensex ended 4.97% lower or 875 points down at 16,730, whereas the Nifty was down 5.94% or 309 points at 4,899.

The market breadth was overwhelmingly weak, with losers outnumbering gainers by 14.64:1 on the BSE. Of the 2,454 stocks traded on the BSE 2,273 stocks declined, 152 stocks advanced and 29 stocks ended unchanged. All the BSE sectoral indices continued to trade weak and dropped around 3-10% each. The BSE Oil & Gas Index was the major loser and lost 10% while the BSE Realty Index shed 9%. 

Majority of the 30-Sensex stocks ended in the red. Among the major losers ONGC shed 13.62% at Rs962, ITC plunged 9.54% at Rs184, Hindalco crumbled 9.37% at Rs150, M&M crashed 9.14% at Rs611, Ambuja Cement slipped by 8.57% at Rs116, Cipla tumbled 8.14% at Rs175, HDFC lost 8.10% at Rs2,480, Reliance Industries dropped 7.32% at Rs2,358, Tata Steel slumped 7.11% at Rs671 and HLL fell by 6.78% at Rs186. Select front-line counters rebounded from their intra-day lows and ended in the green. Bharti Airtel rose 2.54% at Rs849 while Tata Motors gained marginally at Rs658. 

Over 3.74 crore RNRL shares changed hands on the BSE followed by Reliance Petroleum (3.08 crore shares), Ispat Industries (2.32 crore shares), IFCI (2.20 crore shares) and Tata Teleservices (1.44 crore shares). 

Valuewise, Reliance Industries registered a turnover of Rs440 crore followed by Reliance Petroleum (Rs413 crore), RNRL (Rs404 crore), Reliance Energy (Rs367 crore) and ICICI Bank (Rs175 crore). 

European Indices at 16:10 IST on 22-01-2008

Index

Level

Change (pts)

Change (%)

FTSE 100

5586.60

8.40

0.15

CAC 40 Index

4722.81

-21.64

-0.46

Dax Index

6643.27

-148.07

-2.16

Asian Indices at close on 22-01-2008

Index

Level

Change (pts)

Change (%)

Nikkei

12573.05

-752.89

-5.65

Hang Seng

21757.63

-2061.23

-8.65

Kospi Composite

1609.02

-74.54

-4.43

Straits Times

2866.55

-50.60

-1.73

Jakarta Composite

2294.52

-191.35

-7.70

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