Sensex

Tuesday, April 29, 2008

DG - FW: Sharekhan Post-Market Report dated April 29, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 29 April 2008 16:50
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated April 29, 2008

 

 

 

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April 29, 2008

 

Index Performance

Index

Sensex

Nifty

Open

17,050.87

5,092.40

High

17,424.94

5,210.90

Low

17,011.60

5,082.15

Today's Cls

17,378.46

5,195.50

Prev Cls

17,015.96

5,089.65

Change

362.50

105.85

% Change

2.13

2.08

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Bombay Dyeing

987.40

13.27

Sesa Goa

4,172.60

12.56

Tech Mahindra

902.00

10.51

Titan Ind

1,302.90

9.41

DLF

725.85

8.57

Losers

Grasim Ind

2,472.30

-6.16

Welspun Gujarat

413.20

-5.17

India Infoline

949.95

-4.01

Idea Cellular

105.05

-3.67

Spice Tele

40.40

-3.58

Market Statistics

-

BSE

NSE

Advances

1,588

736

Declines

1,121

450

Unchanged

61

30

Volume(Nos)

37.83cr

71.59cr

 Market Commentary 

Market ends firm on IT-led surge 

Led by sharp gains in IT stocks, the market ended on a firm note

The market posted significant gains with buying, particularly, in IT and realty stocks, followed by decent gains in metal and other select counters jacking up 

 

the sentiment. However, the market witnessed sharp volatility within minutes of the commencement of the trading session. After resuming 35 points above its previous close of 17,051, the Sensex moved down 4 points and touched the day's low of 17,011. The index soon rebounded into positive territory on smart gains and rose sharply to an intra-day high of 17,425 in noon trades. While it moved in a range with a positive bias thereafter, the Sensex ended the session with gains of 363 points at 17,378. The Nifty moved up by 106 points to close at 5,196.

Movers & Shakers

  • Tata Power ended with steady gains after the company refinanced the bridge loan taken for the acquisition of a 30% stake in coal companies.
  • Satyam Computer moved up sharply on the report that the company has inked a framework agreement with Arcelor Mittal.
  • Reliance Capital held strong gains on reports of impressive Q4FY2008 and FY2008 earnings numbers.


The market breadth was firm. Of the 2,770 stocks traded on the BSE, 1,588 stocks advanced, 1,121 stocks declined and 61 stocks ended unchanged. Among the sectoral indices, all the indices closed in positive territory. BSE Realty index rose 5.90%, the BSE IT index advanced 5.24% and the BSE Metal was up 3.64%. The BSE CD index, however, tumbled 2.31%, while the BSE CD, Teck and Oil & Gas index gained over 2% each. All the remaining indices gained ended with marginal gains.

IT pivotals among the index stocks led the upsurge. Tech Mahindra soared 10.51% at Rs902. While Satyam advanced 8.22% at Rs479.35, HCL Techno at Rs286.40, NIIT Technology moved up 7.27% at Rs137.95 and Infosys gained 5.15% at Rs1,750.75. Among the other movers of the IT Index, Mphasis added 4.97% at Rs237.55, Wipro scaled up 4.70% at Rs479.20, Patni Computer moved up by 4.70% at Rs479.20, Aptech rose 4.37% at Rs260.10, TCS climbed 3.15% at Rs910.80 and NIIT was up nearly 2.09% at Rs102.40. 

Action was also seen in Sensex stocks. DLF flared up 8.57% at Rs725.85, Hindalco jumped by 6.44% at Rs198.20 and HDFC rose 5.95% at Rs2,881.45. Jaiprakash Associates at Rs266.10, Tata Steel at Rs808.90, SBI at Rs1,793, RIL at Rs2,653 and L&T at Rs3,007 gained 2-5% each.

Over 2.15 crore Reliance Natural Resources Ltd shares changed hands on the BSE followed by ISPAT Industries (1.71 crore shares), IFCI (1.56 crore shares), IB Securities (1.51 crore shares) and RPL (1.47 crore shares).

Reliance Capital clocked a turnover of Rs317 crore followed by Sesa Goa (Rs309 crore), Reliance Petroleum (Rs295 crore), Reliance Natural Resources Ltd (Rs270 crore) and RIL (Rs231 crore). 

European Indices at 16:15 IST on 29-04-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

6110.60

20.20

0.33

CAC 40 Index

4995.36

-17.39

-0.35

DAX Index

6880.13

-45.20

-0.65

 

Asian Indices at close on 29-04-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

13894.37

0.00

0.00

Hang Seng Index

25914.15

247.86

0.97

Kospi Index

1811.51

-11.66

-0.64

Straits Times Index

3172.36

-29.37

-0.91

Jakarta Composite Index

2303.53

49.22

2.18

 

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