Sensex

Wednesday, April 09, 2008

DG - FW: Sharekhan Post-Market Report dated April 09, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 09 April 2008 19:44
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated April 09, 2008

 

 

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April 09, 2008

 

Index Performance

Index

Sensex

Nifty

Open

15,512.70

4,707.05

High

15,829.59

4,758.25

Low

15,464.72

4,667.50

Today's Cls

15,790.51

4,747.05

Prev Cls

15,587.62

4,709.65

Change

202.89

37.40

% Change

1.30

0.79

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Bajaj Hindustan

209.45

11.77

Deccan Aviation

130.45

8.89

Rajesh Exports

88.30

7.62

Triveni Engineering

113.75

7.31

Bhushan Steel

696.75

5.72

Losers

Nicholas Piramal

316.50

-3.61

Lanco Infra

399.90

-3.56

Indiabulls Financial

424.80

-3.51

Indiabulls Real Estate

479.80

-3.33

Bajaj Holdings

650.45

-3.15

Market Statistics

-

BSE

NSE

Advances

1,829

1,056

Declines

794

474

Unchanged

66

25

Volume(Nos)

29.99cr

48.33cr

 Market Commentary 

Market ends higher amid sharp swing

After witnessing a swing of 365 points in intra-day trades, the Sensex ended with sharp gains on selective buying.

The market showed signs of easing off in the first half, as the Sensex dropped nearly 123 points, but a recovery in the afternoon trades and selective buying towards the 

 

close saw the Sensex end higher. Exhibiting sharp volatility in the first half, the Sensex resumed with a huge negative gap of 75 points at 15,513 and soon crossed the 15,500 mark to touch an intra-day low of 15,465 on sustained selling support. However, the market soon turned into positive territory, as a sharp bout of buying in old economy stocks led the index to an intra-day high of 15,830. The Sensex finally wound up the session with gains of 1.30% or 203 points at 15,791 while, the Nifty advanced 37 points to close at 4,747.

Movers & Shakers

  • i-flex Solutions rose on report that Israel Discount Bank, one of the leading financial groups of Israel has chosen FLEXCUBE as the core banking platform for its UK operations.
  • Ranbaxy Laboratories ended a bit weak in spite of entering into a collaborative research agreement with the Department of Biotechnology (a government of India corcern) in the area of New Drug Discovery Research. 


The market breadth however ended positive. Of the 2,689 stocks traded on the Bombay Stock Exchange (BSE) 1,829 stocks advanced, 794 stocks declined and 66 stocks ended unchanged. Among the sectoral indices the BSE Bankex index was the major gainer and moved up 3.01% while, the BSE Power index and the BSE CG were up nearly 2% each. The BSE Realty index and the BSE FMCG index, however, ended weak.

Select heavyweights helped the Sensex end at higher levels. HDFC Bank rose 5.50% to Rs1,376.05 and HDFC advanced 4.24% to Rs2407.50. Among other major gainers, BHEL jumped 3.74% to Rs1,776.75, Tata Steel scaled up 3.44% to Rs678.90 and ICICI Bank moved up 2.86% to Rs836.50. However, Maruti Suzuki dropped 1.44% to Rs733.45, HUL tumbled 1.39% to Rs244.45, Bharti Airtel shed 1.04% to Rs819.95 and TCS lost 0.98% to Rs876.65. DLF, Jaiprakash Associates, Reliance Communications and ACC also ended with losses.

Select Bankex stocks rallied sharply. Bank of Baroda zoomed 4.98% to Rs294.10, Yes Bank advanced 4.65% to Rs169.75, Axis Bank added 4.62% to Rs796.10, Kotak Bank gained 4.47% to Rs671.85 and Federal Bank gained 4.45% to Rs237.

Over 2.53 crore Orchid Chemicals shares changed hands on the BSE followed by Sita Shree Food Products(1.95 crore shares), Ispat Industries (1.11 crore shares), RNRL (0.84 crore shares) and SAIL (0.68 crore shares).

European Indices at 16:55 IST on 09-04-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

6003.30

13.30

0.22

CAC 40 Index

4917.86

5.17

0.11

DAX Index

6773.74

1.76

0.03

Asian Indices at close on 09-04-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

13111.89

-138.54

-1.05

Hang Seng Index

23984.57

-327.12

-1.35

Kospi Index

1754.71

-18.85

-1.06

Straits Times Index

3089.72

-40.70

-1.30

Jakarta Composite Index

2180.09

-69.68

-3.10

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