Sensex

Thursday, April 24, 2008

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

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 24 April 2008 16:25
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated April 24, 2008

 

 

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April 24, 2008

 

Index Performance

Index

Sensex

Nifty

Open

16,796.26

5,022.90

High

16,844.02

5,072.70

Low

16,668.60

4,991.35

Today's Cls

16,721.08

4,999.85

Prev Cls

16,698.04

5,022.80

Change

23.04

-22.95

% Change

0.14

-0.46

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

United Spritis

1,752.00

9.91

JSW Steel

896.20

5.10

Reliance Industrial Infra

1,275.95

5.00

Spice Tele

43.35

4.96

Lupin

576.80

4.95

Losers

ACC

798.10

-5.49

Pantaloon Retail

461.60

-5.41

Praj Industries

169.90

-5.27

Petronet LNG

79.35

-5.03

MMTC

26,673.30

-4.74

Market Statistics

-

BSE

NSE

Advances

1,266

443

Declines

1,465

740

Unchanged

54

27

Volume(Nos)

36.69cr

69.27cr

 Market Commentary 

Market ends steady amid sharp volatility

The Sensex ended with modest gains after witnessing an intra-day swing of 175 points.

The stock market witnessed volatile moves and swung 175 points during intra-day trades, as shares gyrated sharply between zones through the trading session.  

 

Taking cue from the firm global indices, the Sensex started on a positive note at 16,796, but failed to sustain gains as a sharp bout of profit-taking pulled the index below the 16,700 mark to an intra-day low of 16,669. While the market remained lacklustre with a negative bias, the Sensex rolled back into green by mid-noon trades on renewed buying support and surged to an intra-day high of 16,844. However, a fresh round of profit-taking towards the fag-end saw the Sensex pare gains and end at 16,698, up 23 points, while the Nifty lost 23 points to close at 5,000.

Movers & Shakers

  • Sobha Developers slipped despite signing a letter of intent with TUV Rheinland Group.
  • Hindustan Zinc jumped on report that the company has become the world's Largest integrated zinc-lead producer.
  • Parsvnath Developers logged gains, as the company launched Precious Apartments and Parsvnath Mall in Jamnagar.


The breadth of the market was weak. Of the 2,785 stocks traded on the BSE 1,465 stocks declined, 1,266 stocks advanced and 54 stocks remained unchanged. Among the sectoral indices, the BSE PSU index dropped 1.53% at 7,724 while the BSE Metal index, the BSE CD index, the BSE Power index and the BSE HC index also ended at lower levels. The BSE IT index gained 1%. While BSE FMCG, TECk, CG, and Bankex ended with steady gains.

Select heavyweights edged higher on decent buying support. HUL jumped 3.12% at Rs249.35, Infosys advanced 2.86% at Rs1,693.05, Satyam Computer added 2.06% at Rs439.30 and Wipro gained 1.46% at Rs449.55. However, select front-line stocks came under selling pressure. ACC was the major loser and dropped 5.49% at Rs798.10. Other draggers Reliance Communications declined 2.89% at Rs532.80, Reliance Energy dropped 2.73% at Rs1,306.45, NTPC shed 2.68% at Rs190.55, Tata Steel lost 2.65% at Rs776.50 and Maruti Suzuki fell 2% at Rs745.95.

Over 1.83 crore IFCI shares changed hands on the BSE followed by ISPAT Industries (1.31 crore shares), IB Securities (1.10 crore shares), RNRL (1.08 crore shares), Spice Tele (1.06 crore shares) and RPL (1.02 crore shares).

European Indices at 16:10 IST on 24-04-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5978.00

-105.60

-1.74

CAC 40 Index

4881.07

-63.58

-1.29

DAX Index

6747.98

-47.05

-0.69

Asian Indices at close on 24-04-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

13540.87

-38.29

-0.28

Hang Seng Index

25680.78

391.54

1.55

Kospi Index

1799.34

-1.45

-0.08

Straits Times Index

3177.55

-16.29

-0.51

Jakarta Composite Index

2269.98

-44.32

-1.92

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