| | | | Index Performance | | Index | Sensex | Nifty | | Open | 16,468.32 | 4,953.60 | | High | 16,498.24 | 4,953.60 | | Low | 16,300.88 | 4,858.00 | | Today's Cls | 16,348.50 | 4,875.05 | | Prev Cls | 16,649.64 | 4,946.55 | | Change | -301.14 | -71.50 | | % Change | -1.81 | -1.45 | | | | Market Indicators | | Top Movers (Group A) | | Company | Price
(Rs) | %
chg | | Gainers | | Spice Tele | 48.75 | 8.94 | | GTL Infra | 52.70 | 5.51 | | GSK Pharma | 1,130.35 | 5.27 | | Sun Pharma | 1,379.00 | 3.92 | | Infosys | 1,886.40 | 3.29 | | Losers | | Bajaj Holdings | 598.25 | -11.17 | | Bajaj Hindusthan | 199.00 | -8.82 | | IVRCL Infra | 381.00 | -7.66 | | Deccan Aviation | 119.25 | -6.62 | | Praj Industries | 191.40 | -6.61 | | | Market Statistics | | - | BSE | NSE | | Advances | 667 | 183 | | Declines | 2,043 | 1,034 | | Unchanged | 48 | 17 | | Volume(Nos) | 25.75cr | 43.11cr | | | | | | Market Commentary | | | Market slumps on weak global cues | | Weak international markets coupled with record-high crude oil prices triggered a major sell off with the Sensex dropping over 1.81% at close. | | The market continued to remain under the grip of a bear hug for the third straight session and crashed nearly 350 points during intra-day trades, as investors | | | | tracked weak international markets and rise in the global crude oil prices. Continuing from the yesterday's loss of 257 points, the Sensex resumed 180 points lower at 16,468 and lost more ground as trading progressed. The market witnessed a steep fall in early noon trades as selling in heavyweights, Bankex, capital good and metals dragged the index below the 16,300 mark to the day's low of 16,300. After lingering in the negative territory thereafter, the Sensex wrapped up the session at 16,349, down 301 points, while the Nifty shed 72 points to close at 4,875. | | | Movers & Shakers | - Hindustan Dorr Oliver moved up on reports that the company has received Rs250 crore-worth order from Vedanta Aluminium.
- Ashok Leyland inched lower after the company signed three separate joint venture agreements with Nissan Motor of Japan for the development, manufacture and sale of light commercial vehicles and power trains.
- AI Champdany Industries, which recommended dividend and stock split, ended in the red.
| | | |
Market breadth was extremely weak. Of the 2,758 stocks traded on the BSE, 2,043 stocks declined while only 667 stocks advanced. The remaining 48 stocks ended unchanged. Except IT and Teck, all the sectoral indices finished in red. The BSE Bankex index was the major loser and declined 3.56% at 7,939 followed by the BSE CG index (down 2.72% at 12,834), the BSE Metal index (down 2.69% at 16,343) and the BSE PSU index (down 2.49% at 7,337).
Barring few select stocks, most frontline stocks faltered under the selling pressure. Among the major laggards JP Associates shed 5.58% at Rs224.40, Ambuja Cement dropped 5.38% at Rs96.65, BHEL slumped 5.21% at Rs1656, Reliance Communications declined 5.08% at Rs543.20, ICICI Bank fell 4.29% at Rs826.70, HDFC tumbled 3.92% at Rs2,573 and Maruti slipped by 3.83% at Rs759.85. Infosys, however, advanced 3.29% at Rs1,886 while Bharti Airtel, TCS and Satyam Computer ended with steady gains.
Among sectoral stocks, Bankex slipped sharply. Federal Bank tumbled 6.09% at Rs221.95, Kotak Bank lost 5.99% at Rs658.05, Indian Overseas Bank fell 4.75% at Rs130.20, Axis Bank declined 4.61% at Rs762.95 and Allahabad Bank shed 4.03% at Rs84.55. Capital goods stocks also bore the brunt and lost ground. Praj Industries, BHEL, Thermax, Bharat Electricals, Alstom, Punj Lloyd, Kirloskar Brothers, Elecon Eng, L&T and Lakshmi Machine crashed over 3-6% each.
Over 1.69 crore Ispat Industries shares changed hands on the BSE followed by IFCI (1.14 crore shares), Aishwarya Telecom (86.54 lakh shares), Spice Telecom (80.18 lakh shares) and RNRL (65.51 lakh shares).
Valuewise, Cairn India was the most actively traded counter on the BSE and registered a turnover of Rs180 crore followed by Reliance Industries (Rs148 crore), Reliance Capital (Rs145 crore), Bajaj Auto (Rs144 crore) and Reliance Power (Rs142 crore).
| | | | | | | | European Indices at 16:24 IST on 26-05-2008 | | | | Index | Level | Change (pts) | Change (%) | | FTSE 100 Index | 6087.30 | -94.30 | -1.53 | | CAC 40 Index | 4945.79 | 12.02 | 0.24 | | DAX Index | 6946.80 | 2.75 | 0.04 | | | | | | | | | | | Asian Indices at close on 26-05-2008 | | | | Index | Level | Change (pts) | Change (%) | | Nikkei 225 | 13690.19 | -322.01 | -2.30 | | Hang Seng Index | 24127.31 | -586.76 | -2.37 | | Kospi Index | 1800.58 | -27.36 | -1.50 | | Straits Times Index | 3103.30 | -18.85 | -0.60 | | Jakarta Composite Index | 2419.73 | -46.23 | -1.87 | | | | | | | | 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