Sensex

Thursday, January 24, 2008

DG - FW: Sharekhan Post-Market Report dated January 24, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 24 January 2008 19:14
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated January 24, 2008

 

 

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January 24, 2008

 

Index Performance

Index

Sensex

Nifty

Open

17,920.98

5,208.00

High

18,185.10

5,357.20

Low

17,070.05

4,995.80

Today's Cls

17,221.74

5,033.45

Prev Cls

17,594.07

5,203.40

Change

-372.33

-169.95

% Change

-2.12

-3.27

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Bongaigaon Refinery

64.00

7.83

LIC Housing Finance

298.00

7.52

Hero Honda Motors

642.00

6.08

Tata Tea

719.70

5.55

Indian Oil Corporation

475.05

5.00

Losers

GNFC

167.30

-11.46

Birla Corporation

206.40

-11.15

Bank of India

364.45

-10.77

Bombay Dyeing

702.10

-10.69

Lanco Infra

504.00

-10.55

Market Statistics

-

BSE

NSE

Advances

385

216

Declines

2,341

965

Unchanged

15

10

Volume(Nos)

34.97cr

69.98cr

 Market Commentary 

Dalal Street takes another hit

Across-the-board selling pressure led by metal and power stocks saw the Sensex lose 2.12%.

Continuing the bearish mood, the market witnessed another round of selling, with index heavyweights, metal, power, and capital goods stocks shaving off around 

 

1,000 points from the Sensex in intra-day trades. After opening on a positive note, the Sensex rallied sharply to touch the day's high of 18,185 on sustained buying in frontline stocks. However, as selling gained momentum the market slipped deep into the red to touch the day's low of 17,070. But, the rise in European markets helped the Sensex to erase partial losses towards the close as value buying emerged in index pivotal stocks. The Sensex finally closed the session with a loss of 372 points at 17,222. The broad-based Nifty too, slipped 170 points to close at 5,033. 

The market breadth was negative, with the losers outnumbering the gainers in the ratio of 6.09:1. Of the 2,741 stocks traded on the Bombay Stock Exchange (BSE), 2,341 stocks declined, 385 stocks advanced and 15 stocks ended unchanged. All the sectoral indices had a weak outing. The BSE Metal index slipped sharply and dropped 5.70% followed by the BSE Power index (down 5.32%), the BSE CG index (down 4.87%), the BSE Realty index (down 4.41%) and the BSE PSU index (down 4.10%).

Out of the 30 Sensex stocks, 24 stocks closed in negative territory. Among the major losers, NTPC slumped by 8.94% at Rs204, Reliance Energy plummeted by 8.75% at Rs1,816, L&T tumbled by 5.62% at Rs3,538, Hindalco shed 5.47% at Rs152, Bajaj Auto crashed by 4.76% at Rs2,110, ONGC dropped 4.70% at Rs944 and Wipro declined by around 4.55% at Rs412. However, HDFC surged 3.22% at Rs2,614, Satyam Computer moved up 1.77% at Rs400, Reliance Communications added 1.64% at Rs625 while, SBI, Bharti Airtel and ACC closed with marginal losses. 

Over 2.95 crore shares of Ispat Industries changed hands on the BSE followed by RNRL (2.91 crore shares), Reliance Petroleum (1.80 crore shares), Tata Teleservices (1.22 crore shares) and IFCI (1.21 crore shares).

Valuewise, RNRL registered a turnover of Rs407 crore on the BSE followed by Reliance Industries (Rs313 crore), Reliance Petroleum (Rs304 crore), Reliance Energy (Rs175 crore) and Reliance Capital (Rs169 crore).

European Indices at 16:30 IST on 24-01-2008

Index

Level

Change (pts)

Change (%)

FTSE 100

5813.30

204.00

3.64

CAC 40 Index

4882.82

246.06

5.31

Dax Index

6795.28

358.83

5.60

Asian Indices at close on 24-01-2008

Index

Level

Change (pts)

Change (%)

Nikkei

13092.78

263.72

2.06

Hang Seng

23539.27

-550.90

-2.29

Kospi Composite

1663.00

34.58

2.12

Straits Times

3050.09

66.47

2.23

Jakarta Composite

2516.70

40.42

1.63

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