| | Index Performance | Index | Sensex | Nifty | Open | 15,770.16 | 4,760.65 | High | 15,770.40 | 4,769.55 | Low | 15,479.42 | 4,677.80 | Today's Cls | 15,587.62 | 4,709.65 | Prev Cls | 15,757.08 | 4,761.20 | Change | -169.46 | -51.55 | % Change | -1.08 | -1.08 | | | Market Indicators | Top Movers (Group A) | Company | Price (Rs) | % chg | Gainers | Tech Mahindra | 828.95 | 11.59 | Yes bank | 162.20 | 11.55 | Sintex Industries | 405.60 | 9.87 | GMDC | 299.35 | 6.47 | Max India | 165.35 | 6.37 | Losers | Tata Comm | 479.45 | -11.43 | SAIL | 157.55 | -6.14 | L & T | 2,581.30 | -5.09 | Jai Corp | 451.10 | -4.99 | Wipro | 414.00 | -4.60 | | Market Statistics | - | BSE | NSE | Advances | 1,393 | 607 | Declines | 1,210 | 556 | Unchanged | 69 | 31 | Volume(Nos) | 25.54cr | 45.60cr | | | | | Market Commentary | | Sensex drops 169 points | The market succumbed to weak international markets and lost over 1% amid heavy selling in heavyweights, CG, Metal and IT stocks. | After yesterday's strong upsurge of 414 points, the market failed to rally further as weak Asian indices and flat close on US bourses weighed on the sentiment. | | | Barring the consumer durables (CD) and Bankex stocks, selling was visible in all the sectors. The benchmark Sensex opened with a positive gap of 13 points at 15,770 and never recovered from the early slump. While the market moved in a range below 15,600 for better part of the trading session, the index witnessed a fall towards the mid hours and nearly breached the 15,000 mark to touch the day's low of 15,479. The Sensex however pared losses on selective gains and ended the session with losses of 169 points at 15,588, while the Nifty declined 52 points to close at 4,710. | | Movers & Shakers | - Ranbaxy Laboratories moved down in spite of the report that the company has become the first foreign generic company to develop a generic product independently outside Japan and to receive authorisation from MHLW-Japan.
- Larsen & Toubro inched lower although the company bagged orders worth Rs1,687 crore for water supply project, steel plants and coal handling plant.
- C&C Constructions logged gains on bagging an EPC contract worth Rs574 crore.
| | | However, the market breadth was positive. Of the 2,672 stocks traded on the Bombay Stock Exchange (BSE) 1,393 stocks advanced, 1,210 stocks declined and 69 stocks ended unchanged. Among the sectoral indices, the BSE Metal dropped sharply and lost 1.93% while the BSE CG index, the BSE IT index, the BSE Teck index and the BSE Realty index were down over 1% each. The BSE Bankex & the BSE CD index were the only gainers. Heavyweights led the fall in the Sensex. Larsen & Toubro dropped 5.09% at Rs2,581, Wipro slumped 4.60% at Rs414, Jaiprakash Associates shed 4.48% at Rs221.55, Tata Steel lost 3.39% at Rs656.30, Ranbaxy Laboratories slipped by 2.71% at Rs470.75 and Grasim Industries tumbled 2.56% at Rs2,560. NTPC, Infosys, HUL and Maruti Suzuki declined over 2% each. Among the selective gainers, BHEL rose 4.67% at Rs1,712, while Bharti Airtel, ICICI Bank, HDFC, HDFC Bank and SBI ended with modest gains. Metal stocks slipped sharply. SAIL dropped 6.14% at Rs157.55, Jindal Steel declined 4.49% at Rs1,812.75, NALCO lost 3.55% at Rs432.45 and Tata Steel slipped by 3.39% at Rs656.30. JSW Steel, SH Precoated, Jindal Saw, Maharashtra Steel and Hindalco were down around 1-2% each. Among the gainers in the Bankex stocks, Yes Bank advanced 11.55% at Rs162.20, Union Bank rose 3.33% at Rs153.55, Federal Bank gained 3.31% at Rs228, Karnataka Bank added 2.37% at Rs205 and Kotak Bank was up 2.14% at Rs643. Over 2.05 crore Orchid Chemical shares changed hands on the BSE followed by RNRL (1.14 crore shares), Sita Shree (1.06 crore shares), IB Securities (76.56 lakh shares) and RPL (71.11 lakh shares). | | | | | | | | European Indices at 16:00 IST on 08-04-2008 | | | Index | Level | Change (pts) | Change (%) | FTSE 100 Index | 5960.30 | -54.50 | -0.91 | CAC 40 Index | 4886.67 | -57.93 | -1.17 | DAX Index | 6738.55 | -82.48 | -1.21 | | | | | | | | | | | Asian Indices at close on 08-04-2008 | | | Index | Level | Change (pts) | Change (%) | Nikkei 225 | 13250.43 | -199.80 | -1.49 | Hang Seng Index | 24311.69 | -267.07 | -1.09 | Kospi Index | 1754.71 | -18.85 | -1.06 | Straits Times Index | 3130.42 | -51.50 | -1.62 | Jakarta Composite Index | 2249.77 | -37.03 | -1.62 | | | | | | | | To know more about our products and services, click here. | | | | | | “This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report. The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (“SHAREKHAN and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN.” | To unsubscribe write to myaccount@sharekhan.com | |
No comments:
Post a Comment