Sensex

Monday, May 12, 2008

DG - FW: Sharekhan Post-Market Report dated May 12, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 12 May 2008 16:30
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated May 12, 2008

 

 

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May 12, 2008

 

Index Performance

Index

Sensex

Nifty

Open

16,641.45

4,981.00

High

16,897.36

5,021.75

Low

16,546.55

4,913.80

Today's Cls

16,860.90

5,012.65

Prev Cls

16,737.07

4,982.60

Change

123.83

30.05

% Change

0.74

0.60

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Shree Precoated Steel

199.00

10.68

Cairn India

302.95

10.59

Nagarjuna Fertilizers

46.65

8.61

Chambal Fertilisers

69.80

7.63

Ranbaxy

494.20

5.27

Losers

Indiabulls Financials

444.55

-5.88

Pantaloon Retail

432.60

-5.70

Indian Oil Corporation

418.35

-5.49

Reliance Industrial Infra

1,323.05

-5.00

BPCL

358.10

-4.48

Market Statistics

-

BSE

NSE

Advances

920

350

Declines

1,777

840

Unchanged

50

21

Volume(Nos)

37.75cr

57.03cr

 Market Commentary 

IT stocks help Sensex bounce back

A late round of buying triggered a rally in the market and the Sensex gained 124 points at the close.

The market returned to stability by mid-noon trades and gradually picked up momentum towards the close amid healthy buying support in heavyweights, IT, tech 

 

and oil counters. After a cautious start at 16,641, four points below its previous close of 16,737, the index slipped deep into red after a disappointing 3% year-on-year growth in the index of industrial production (IIP), much below the consensus expectation of 5.8% year-on-year growth. The Sensex touched the day's low of 16,547, down 190 points. However, the rupee touching the 13-month low of Rs42.02 a dollar triggered a major rally in IT stocks and the index touched the intra-day high of 16,897, up 350 points from the day's low. The Sensex finally ended the session marginally below the 16,900 mark at 16,861, up 124 points, while the Nifty added 30 points to close at 5,013.

The breadth of the market was negative, with the losers outpacing the gainers in a ratio of 1.90:1. Of the 2,747 stocks traded on the BSE, 1,777 stocks declined, 920 stocks advanced and 50 stocks ended unchanged. Most of the sectoral indices closed with gains on BSE, except realty, Auto, CD and PSU indices. BSE IT index rose by 1.48% followed by the BSE FMCG index (up 1.11%), the BSE Teck index (up 1.03%) and the BSE Oil & Gas index (up 1.02%).

Heavyweights led the upsurge in the market. Ranbaxy Laboratories soared 5.27% at Rs494, Satyam Computer Services added 3.41% at Rs490, ITC shot up by 2.52% at Rs224, HDFC increased by 2.03% at Rs2,699, Reliance Communications vaulted 2.02% at Rs550. Select counters, however, finished on a weak note. Grasim shed 3.61% at Rs2,256, JP Associates dropped 1.95% at Rs246, ACC declined by 1.45% at Rs702 and DLF lost 1.35% at Rs622.

Over 6.11 crore Aishwarya Telecom shares changed hands on the BSE followed by Reliance Petroleum (1.78 crore shares), RNRL (1.74 crore shares), IFCI (1.33 crore shares) and Ispat Industries (1.22 crore shares).

Valuewise, Aishwarya Telecom registered a turnover of Rs558 crore on the BSE followed by Reliance Petroleum (Rs316 crore), Cairn India (Rs260 crore), Reliance Capital (Rs258 crore) and Reliance Industries (Rs214 crore).

European Indices at 16:10 IST on 12-05-2008

Index

Level

Change (pts)

Change (%)

FTSE 100

6237.90

33.20

0.54

CAC 40 Index

4994.95

34.39

0.69

Dax Index

7043.07

39.90

0.57

Asian Indices at close on 12-05-2008

Index

Level

Change (pts)

Change (%)

Nikkei

13743.36

88.02

0.64

Straits Times

3180.61

18.13

0.57

Jakarta Composite

2378.00

2.98

0.13

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